Today, an increasing number of people are choosing to buy a pool card because it has multiple benefits, such as the right to receive an advance on the fund. Many might wonder about the pool cards, for example, what kind of cards they are, and how they differ. Next, we're going to analyze the various types of IPF cards from multiple angles。

What kind of card is the pool card

I. Categorization by card issuers

It can be classified according to the issuer of the pool card, which is divided into two categories: the bank-issued pool debit card, and the pool card, which is issued in cooperation with the Provident Fund Management Centre. Bank-issued CPF debit cards, which can be used as a common debit card, have all the functions of a bank card, such as swipe card consumption, cash withdrawal, transfers, etc. In contrast, the Provident Fund joint card of the Provident Fund Management Centre, which is intended primarily to facilitate loans and repayments, can be used as a loan and repayment instrument for the Provident Fund rather than as a common debit card。

II. Classification by cardholders

They can also be divided into two categories, one for individual and the other for unit cardholders, according to the classification of the holder of the United Nations Provident Fund card. Individual cardholders are those who hold a joint Provident Fund card and can carry out personal operations in banks, online banks, etc., such as insurance operations, purchase of property items, etc. Unit-holders, on the other hand, refer to the fact that the holders of the United Nations Provident Fund cards are units, such as large enterprises, enterprises, etc., which can be more easily processed and repaid。

Classification by function

The pool cards can also be classified according to their functions. Generally, the IFAP card has several functions:

1. Provident Fund loan functionality

In cooperation with the Provident Fund Management Centre, the Provident Fund credit facility is available, for example, through the use of the Provident Fund card to apply for loans, which is more easily and expeditiously。

2. Provident Fund function

In processing the withdrawal of the Provident Fund, if the withdrawal exceeds the amount of the Fund ' s balance, the advance could be made by using the pool card, without fear of underfunding。

3. Pension contribution function

For those who have retired, the CPF card can also be used as a pension contribution instrument to support a variety of forms of contribution, such as self-help terminals and online contributions。

Based on the above, the United Nations Provident Fund (UNPF) cards can be categorized in terms of three aspects: issuers, cardholders and functionality, each of which has different characteristics and uses. Whether you need to process a Provident Fund loan or to advance such functions as a Provident Fund or a pension contribution, you can choose the appropriate pool card according to your needs in order to obtain a more favourable benefit。