What Is Financial Product? Watch Out For Financial Traps Around You

Whether it is the high yield fraud of bank financial products, or the "stealing" of savings and insurance, or even the most widely used credit card and bank card, because consumers are unreasonable or charging items are not public, consumers are often faced with "lack of arms and legs" on these products from time to time.

In today's financial products "flourishing" today, consumers are also facing the trap of financial management.

How to enhance our ability to distinguish wealth swindle is a compulsory course for everyone.

Beware of linked items of bank financial products

In such a case, a consumer bought a gold linked gold in a large state-owned bank in January this year.

The consumer said that from 1 to February, when gold rose very rapidly, he wanted to check whether the price of gold broke through the interval, but could not find the exact price.

Later, it was learned that the target of the product was based on the gold dollar fixed price announced at 18:30 Beijing time at Reuters XAUFIXAM page, and the consumer's computer could only see the price of domestic gold, and no relevant pages were found on search engines.

Similar cases occurred in other banks. Last year, a foreign bank issued a financial product linked to stocks, which was listed on the Swiss stock exchange. The bank does not provide stock prices to investors. Once the stock price fluctuates and exceeds the volatility of the bank design, investors will only be unlucky.

How can consumers ensure that they are not poisoned by the incomplete disclosure of information or the way consumers can not query the wealth management products with fluctuating earnings?

Yu Yong, the two regulator of the China Banking Regulatory Commission, told reporters that the financial products designed by the bank, no matter how complex, are pparent at the time of regulatory reporting and sales to consumers. There is no problem from the regulatory level.

"The market needs products with different risk levels and different levels of income to meet different needs of consumers."

Most of the products have low liquidity, and customers can not terminate the contract in advance. A small number of products can be terminated or pledged, but the fees or pledge loans are of high interest.

Therefore, once financial products are started, they are responsible for risks.

From a consumer perspective, Yu Yong suggests that consumers buy products at their own risk level.

"Financial products.

"There is no such thing as a free lunch, nor will it be sold for no reason."

Yu Yong said that the more profitable financial products, the more consumers should pay attention to possible risks.

Watch out for the loss of sleeping cards.

According to media reports, 5 years ago, Miss Tung, a student from a school in Hangzhou, handled a credit card with an overdraft of 200 yuan. After graduation, she did not know that the card had a 191.11 yuan overdraft. After 5 years, she became a debt of 10854.43 yuan.

According to miss Tung, she hasn't changed her mobile phone in 5 years, nor has she received any reminder from the bank.

The incident is not yet conclusive.

From the perspective of the event itself, if entering the judicial process, the key and general of the burden of proof.

But for other credit card overdraft customers, they should contact the credit card issuing bank to change their places of residence, cell phone number or email address, so as to avoid receiving the consumer notice.

After all, the credit card is not returned after overdraft, which is a breach of the customer's agreement.

In addition, Yu Yong said that long-term cards, such as credit cards, savings cards and other dormant cards, consumers had better take the initiative to go to the bank to write off.

It is understood that it is necessary to cancel the bank card before changing the residential city consumers.

If some bank cards are not canceled, they will easily generate "small account management fees" and other expenses.

In general, the procedures for canceling bank cards are: carrying personal identity cards to the counters at the issuing bank within the city limits.

Bank teller usually takes all cash in the card and reclaims the card.

Watch out for savings to become insurance.

Recently, a netizen said that his father had gone to the bank to deposit money. A person wearing similar bank staff introduced a high interest financial product to his father. Not only three years later, he could recover the principal, pay dividends every year, but also give a ten year free gift.

For the mechanism of bank insurance cooperation, the relevant departments have explicitly prohibited the insurance companies from selling insurance products at banks, but banks can sell them by proxy.

In 2010, the CBRC issued a notice requiring commercial banks to develop agency insurance business. Product sales activities should fully reveal the characteristics, attributes and risks of insurance products to customers, and not mislead customers.

A bank employee said that the sales of bancassurance products in their banks had been going on.

But bank salesmen are obliged to explain information to the insured.

Investment linked insurance and guaranteed floating income insurance will also be explained in different depth according to different risks.

According to the insiders, if a bank sells insurance, it should first be confirmed that the bank staff is selling insurance or insurance companies.

Generally speaking, the insurance of the bank sales is higher and the risk is small, because the bank is only in order to earn some of the middle business income. In order to maintain its own image, the bank will not launch the "framed" product.

If consumers want to buy insurance products, they should carefully understand the details of insurance period, premium payment standard and profit sharing time, so as to avoid rushing to buy in case of unknown circumstances.