Dicationic N,N′‐dibenzylated cyclophane‐type derivative 1 of a bisisoquinoline macrocyclic alkaloid, S,S‐(+)‐tetrandrine, was prepared and characterized. In aqueous solution 1 undergoes dimerization, which was studied by the concentration dependence of its 1H NMR signals. The salt effect on the dimerization constant was analyzed by using different versions of Debye–Hückel‐type equations. 1H NMR titration of 1 by 10 dicarboxylate anions of different structures revealed strong peak binding selectivity for succinate in the series of α,ω‐dicarboxylates. Aromatic carboxylates have larger binding constants and for o‐phthalate the formation of both 1:1 and 1:2 host–guest complexes is observed. Binding of nucleotides (AMP, ADP and ATP) to 1 is surprisingly insensitive to the guest charge, indicating a major contribution of stacking interactions of the nucleobase with 1. Copyright © 2001 John Wiley & Sons, Ltd.