News News

Foreign exchange bureau: From 2018 onwards, each person’s domestic card will not exceed 100,000 yuan

日期: 2013-11-29
浏览次数: 5

Starting from January 1, 2018, individuals with domestic bank cards will withdraw cash overseas. The total number of bank cards in their name must not exceed 100,000 yuan per natural year. If the annual amount exceeds the annual quota, the domestic bank card will be suspended for cash withdrawal outside the country this year and the following year.


On December 30, the SAFE issued the Notice of the State Administration of Foreign Exchange on Regulating the Large-Scale Cash Withdrawal of Bank Cards (hereinafter referred to as the “Notice”), regulating the large amount of cash withdrawals from bank cards and improving cross-border anti-money laundering supervision. At the same time, this does not change the amount of foreign exchange purchases of 50,000 US dollars for personal convenience, and does not affect the normal withdrawal of cash and consumption by individuals, and does not affect the convenience of personal use.


The main contents of the Notice include:


1. Individuals holding domestic bank cards to withdraw cash from abroad, and the total number of bank cards (including supplementary cards) under their name shall not exceed 100,000 yuan per natural year;


Second, the daily amount of cash drawn from the RMB card and foreign currency card will be unified to the equivalent of RMB 10,000 per day;


3. If an individual holds a domestic bank card and withdraws cash outside the annual quota, he/she will be suspended from holding a domestic bank card to withdraw cash from abroad in the current year and the following year;


4. Individuals may not circumvent or assist in evading overseas cash withdrawal management by borrowing other people's bank cards or lending their bank cards.


The SAFE insists on supporting cross-border compliance use of individual card holders. Regulating the large amount of cash withdrawals from bank cards abroad is a necessary measure for anti-money laundering, anti-terrorism financing, and anti-tax evasion. It can further prevent illegal activities of bank cards in cash withdrawal. The Notice follows the current account convertibility requirements and does not change the amount of foreign exchange purchases of $50,000 in personal convenience. It does not affect the normal withdrawal of cash and consumption by individuals, and does not affect the convenience of personal use.


The Notice was implemented on January 1, 2018.


Share to:
News / Recommended news More
2019 - 10 - 15
Figure with markets related to BRI totals 6.65 trillion yuan, up 9.5% year-on-yearChina's foreign trade maintained stable performance during the first three quarters despite trade friction with the United States, the latest customs data showed.Looking ahead, the expansion of international trade will depend largely on the easing of trade tensions, which, left unresolved, may further dampen the glob...
2019 - 10 - 12
BEIJING - The number of charging posts for new energy vehicles in China continued steady growth thanks to the robust development of the country's green transportation, data from China Electric Vehicle Charging Infrastructure Promotion Alliance showed.The number of charging posts across the country has reached 1.08 million by the end of August, representing a year-on-year growth of 67.8 percent, th...
2019 - 10 - 09
BEIJING - Gao Xiang and his colleagues never pictured coal as a black cloud billowing from smokestacks or a sooty remnant of the Industrial Revolution.'There are only unclean technologies; no unclean energy,' said Gao, a winner of China's National Awards for Scientific and Technical Progress and a professor at the State Environmental Protection Engineering Center for Coal-Fired Air Pollution Contr...
2019 - 10 - 08
High-end manufacturing must be integrated into the development of city clusters, regional linkages and digital innovation, as well as the Belt and Road Initiative for China to achieve breakthroughs in fields that it has been lagging, a leading economist said.Wei Jianguo, vice-chairman of the China Center for International Economic Exchanges, said city clusters will play a huge role in optimizing t...
Phone: 86-510-85750782 
Zip code:214031
Address: Room 3606, Block A, Yunhe East Road 555, Wuxi, Jiangsu Province, China
Copyright ©2018 - 2021 Leonzon International Trading Co., Ltd.
犀牛云提供企业云服务