A customer, Mr. Lin, expressed frustration after spending over ¥32,000 on commemorative coins and medals marketed by Postal Savings Bank of China (PSBC) Credit Card Center. The bank had initially promoted these items as having collectible value and appreciation potential, with promises of repurchase. However, when Mr. Lin attempted to cash them in, he was told the bank would not honor the repurchase agreement.
Mr. Lin, a PSBC credit cardholder from Shanxi, recalled receiving promotional calls from the bank’s 400 hotline in September 2020. The sales representatives assured him that the coins—including zodiac-themed pieces, 24 Solar Terms medals, and commemorative series like "Great Journey" and "Long March Rockets"—could be resold through the bank if needed. Yet, when he recently sought to liquidate his collection due to financial constraints, he found no legitimate market for them, and PSBC refused to repurchase.
One invoice showed a ¥5,980 charge for an "Ag999 (80g silver) and Au999 (1g gold)" commemorative set under the "Great Journey" series. At current market rates (silver: ¥13/g, gold: ¥940/g), the material cost was only ¥1,980—a 200% markup. Another set, "Twelve Zodiac Silver Plates," sold for ¥5,980 but had a material value of just ¥1,560.
Mr. Lin’s experience is not isolated. Online complaints reveal similar grievances from PSBC credit card users nationwide. For instance, a Jiangsu customer, Mr. Chen, was told in 2022 that his commemorative coins could be returned to any PSBC branch, only to later discover no such option existed.
Further investigation revealed that the coins were invoiced by third-party vendors like Shanghai Qiji Intelligent Technology and Jingke Lian Tong (Beijing) Network Technology—companies specializing in bank marketing outsourcing. When contacted, Jingke Lian Tong’s客服 denied any repurchase arrangement, suggesting customers sell the coins independently.
PSBC Credit Card Center later offered a partial refund—30% of the purchase price for unopened items bought in 2021–2022, but nothing for older purchases. Mr. Lin rejected the proposal, demanding a full refund.
As of now, PSBC has not provided a resolution. Customers urge the bank to address the issue transparently and honor its original commitments.
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