A Radio frequency Identification (RFID)-based financial management system, comprising a smart terminal (100,300,801), a bank card (700,802) and a banking system, wherein the smart terminal (100,300,801) comprises a first RFID antenna (101,301,8011), a sensor switch (102,302,8012), a processor (103,303,8013) and a signaling module (306,8016) configured to interact with the banking system via network based on RFID signals; the bank card (700,802) comprises a second RFID antenna (702,8012), an RFID chip (701,8021) and an inductive source (703,8023), the RFID chip (701,8021) comprising information of the bank card (700,802); wherein when the bank card (700,802) approaches the smart terminal (100,300,801), the sensor switch (102,302,8012) senses the inductive source (703,8023) and thus activates the first RFID antenna (101,301,8011) directly or through the processor (103,303,8013) to receive the RFID signals transmitted by the second RFID antenna (702,8022) to implement RFID function; wherein the inductive source (703,8023) is of magnetic material, and the sensor switch (102,302,8012) is a Hall switch; wherein when the bank card (700,802) approaches the smart terminal (100,300,801), the Hall switch senses a magnetic field produced by the magnetic material and is automatically closed and thus activates the first RFID antenna (101,301,8011) directly or through the processor (103,303,8013); when the bank card (700,802) moves away from the smart terminal (100,300,801), the Hall switch no longer senses the magnetic field produced by the magnetic material and is automatically opened and thus deactivates the first RFID antenna (101,301,8011) directly or through the processor (103,303,8013); wherein the smart terminal (100,300, 801) further comprises an electromagnet (304, 8014) configured to be powered on when the Hall switch senses the inductive source (703,8023) and is closed, and to produce a magnetic field to cause the bank card (700,802) comprising a magnetic block to be attracted onto the smart terminal (100,300,801); wherein the inductive source (703,8023) is a magnetic strip. the smart terminal (100,300,801) comprises a first RFID antenna (101,301,8011), a sensor switch (102,302,8012), a processor (103,303,8013) and a signaling module (306,8016) configured to interact with the banking system via network based on RFID signals; the bank card (700,802) comprises a second RFID antenna (702,8012), an RFID chip (701,8021) and an inductive source (703,8023), the RFID chip (701,8021) comprising information of the bank card (700,802); wherein when the bank card (700,802) approaches the smart terminal (100,300,801), the sensor switch (102,302,8012) senses the inductive source (703,8023) and thus activates the first RFID antenna (101,301,8011) directly or through the processor (103,303,8013) to receive the RFID signals transmitted by the second RFID antenna (702,8022) to implement RFID function; wherein the inductive source (703,8023) is of magnetic material, and the sensor switch (102,302,8012) is a Hall switch; wherein when the bank card (700,802) approaches the smart terminal (100,300,801), the Hall switch senses a magnetic field produced by the magnetic material and is automatically closed and thus activates the first RFID antenna (101,301,8011) directly or through the processor (103,303,8013); when the bank card (700,802) moves away from the smart terminal (100,300,801), the Hall switch no longer senses the magnetic field produced by the magnetic material and is automatically opened and thus deactivates the first RFID antenna (101,301,8011) directly or through the processor (103,303,8013); wherein the smart terminal (100,300, 801) further comprises an electromagnet (304, 8014) configured to be powered on when the Hall switch senses the inductive source (703,8023) and is closed, and to produce a magnetic field to cause the bank card (700,802) comprising a magnetic block to be attracted onto the smart terminal (100,300,801); wherein the inductive source (703,8023) is a magnetic strip.