Foreign currency exchange and foreign exchange settlement

1. How to remit overseas foreign exchange to our bank

We open accounts in various currencies in overseas banks, and transfer our relevant foreign accountsaccount openingBank, account number and English name of our bank to inform the customer, please notify the remitting person, inform the remitting trip, and state the payee, the payee's account opening name and account number. The international business department of the head office has direct contact with foreign account banks by telex and SWIFT, and can receive foreign remittances as soon as possible. We do not charge exchange fees, transfer fees and account management fees.

After receiving the remittance, our bank will transfer the full amount to the customer's foreign exchange account, or transfer the first exchange of foreign exchange to the customer's RMB account at the sub-branch the next morning. Each sub-branch cooperates with the international business department of the head office to ask customers to fill in the declaration form on time.

2. Personal foreign exchange purchases by domestic residents

The annual total amount of foreign exchange purchased by domestic residents shall be managed, and the annual total amount shall be equivalent to 50,000 US dollars per person per year. If domestic residents purchase foreign exchange internally in the annual total amount, they shall handle it with their real identity certificate and declare the purpose to the bank; if the purchase of foreign exchange exceeds the annual total amount, it shall be handled after the bank has reviewed the real demand certificate stipulated in the foreign exchange management regulations.

The foreign exchange purchased by domestic residents within the total annual amount can be deposited into their domestic foreign exchange accounts or used for current account foreign exchange expenditures. All foreign exchange remitted overseas, withdrawn foreign currency cash or carried out of the country shall still be handled in accordance with the original foreign exchange management regulations.

Domestic residents in the annual total of internal purchases, should be handled by themselves or entrusted to their immediate family members to handle. Where the immediate family members on behalf of the handling, need to provide the client and the agent's identity certificate, proof of kinship, and the client's authorization letter.

The foreign exchange bureau no longer implements verification management on individual foreign exchange purchases by domestic residents.

3. Overseas sales and payment for business

Required materials:

(1) Written application

(2) Approval for going abroad, or approval for going to Hong Kong and Macao

(3) Budget table for foreign exchange use by overseas delegation groups (budget standards and content shall comply with the provisions of the Ministry of Finance and the Ministry of Foreign Affairs on the Expenditure Standards and Administrative Measures for Temporary Overseas Personnel Expenses).

Precautions

(1) The sale of foreign exchange should be handled before going abroad, and not reissued afterwards;

(2) The group unit purchases foreign exchange uniformly;

(3) For the sale of foreign exchange by the mixed group, the unit within the financial budget shall hold the approval for the mission abroad, or the approval for the mission to Hong Kong and Macao shall first go to the financial department to approve the foreign exchange, and affix the special seal for the use of foreign exchange abroad. The financial department shall keep a copy, and the original shall be returned to the mixed group, which shall be used as the foreign exchange designated bank to handle the foreign exchange sales certificate for the rest of the personnel, and the foreign exchange designated bank shall keep the original.

(4) For "multiple round trips", foreign exchange sales shall be handled according to the number of days per exit and before each exit, and the records of the last exit shall be reviewed.

4. How to exchange foreign exchange bills

When the customer holds foreign currency bills overseas, please bring your own documents. If the payee is a unit, the unit will affix the endorsement stamp, go to the bank for exchange procedures, and import the statistical declaration form of foreign-related income according to the requirements of the Foreign Exchange Administration. Only in this way can the foreign exchange deposit be settled into the RMB account.

There are two ways of discounting and collecting foreign exchange bills.

Discount is when a bank purchases a foreign exchange bill held by a customer, deducts a certain percentage of the bill's denomination, and transfers the balance to a foreign exchange deposit. In the case of a traveler's check purchased abroad, it can be immediately cashed or exchanged into RMB at the foreign exchange purchase price of the day.

Collection is by the bank on behalf of the customer to foreign banks to collect bills of money, usually 20 days to a month, after the bank receives the money by the customer for deposit, in order to prevent possible refunds, but also to ensure the rights and interests of domestic recipients, the bank stipulates: bank draft, non-personal purchase of traveler's checks, postal draft, limit draft and other bills, discount transfer deposit, within one month can not be withdrawn in advance; personal checks, company checks because there is no bank credit as a guarantee, after collection at least one month to deposit.

5. Domestic residents' cash accounts remit overseas

Domestic resident individuals in the annual total of 50,000 US dollars internal purchase and payment of foreign exchange, with my real identity certificate and declare the use of the bank after handling. The other part shall be handled according to the following circumstances stipulated by the State Administration of Foreign Exchange:

(1) For individuals who hold a passport authorizing two-way entry or one-way exit visas, they are allowed to transfer or bring out.

(2) For the purchase of medicines, instruments, newspapers and periodicals, foreign exchange can be remitted by letter or invoice, and the registration fee, tuition fee, and living expenses for studying abroad at their own expense can be remitted by the school notice;

(3) In the event of special circumstances (serious illness, death, or accidental disaster) in the immediate family of the depositor abroad, foreign exchange can be remitted with the valid certificate of the overseas notary department, or the certificate of my embassy or consulate abroad, or the application report of the patient's location (unit), or the prescription issued by the hospital.

If the resident's personal deposit account is a cash account, it is also necessary to convert the cash into cash exchange before remitting it overseas.

6. How to send money abroad to relatives and friends at home

Common methods include the following:GMI Forex

(1) Send a personal check. The check is filled in the recipient and the amount and sent to China. The recipient brings his ID card to the bank for collection. Generally, it takes 15-20 days for collection.

(2) Send bank drafts or postal drafts, limited checks, and traveler's checks.

(3) telegraphic transfer. If it is urgent or the amount is large, the telegraphic transfer is the business of the remitter to release the freely convertible currency to the recipient through the account bank or the agent bank of the remitting bank. Our bank can handle the inward remittance business of US dollars, Hong Kong dollars, euros and yen.

The handling method is as follows:

A ask our bank for the remittance route and provide it to the remitter;

B The remitter is in any bank in the country and remits according to our bank's remittance line. The remitter must indicate the recipient's name, ID number and other relevant information that can identify the recipient's identity when transferring money.;

After our bank receives the payment, we will promptly notify the payee to provide my identity certificate and other relevant documents to come to our bank for payment and declare the balance of payments as required.

7. What are the procedures for residents to go to the bank for foreign exchange remittance?

Outgoing remittance is the business of the remitter sending foreign currency money to the recipient through the bank. Our bank can handle outgoing remittance business of US dollars, Hong Kong dollars, euros and yen.

1, domestic residents in the annual total of $50,000 internal purchase payment, with my real identity certificate and declare to the bank directly after the use.

2. The part exceeding 50,000 USD needs to bring and submit the relevant remittance vouchers (such as letters, invoices, notices, etc.) to the bank.

3, holding foreign currency cash remittance, the day of the cumulative equivalent of less than 10,000 US dollars (inclusive), with my valid identity documents; more than the above amount, should also provide the People's Republic of China customs entry passenger baggage declaration form signed by the customs or my original deposit bank foreign currency cash withdrawal documents for processing.

4. Fill in the remittance application form and fill in the real purpose in the application for remittance purpose column.

5. According to our country's balance of payments statistics declaration system, fill in the declaration form for private remittance.

8. What are the regulations of the foreign exchange bureau for carrying foreign currency out of the country? What are the regulations on the foreign currency carrying certificate?

If the amount brought out by the outbound personnel is within the equivalent value of 5,000 US dollars (including 5,000 US dollars), it is not necessary to apply for a "Carry Certificate", and the customs will release it. Except for those who make multiple round trips on the same day and multiple round trips in a short period of time; if the amount brought out by the outbound personnel is between 5,000 US dollars and 10,000 US dollars (including 10,000 US dollars), they shall apply for a "Carry Certificate" from the bank. When leaving the country, the customs will check and release the "Carry Certificate" stamped with the seal of the bank. For those who use multiple "Carry Certificates", if the accumulated total amount of the "Carry Certificates" stamped with the bank seal exceeds the equivalent of 10,000 US dollars, the customs will not release them; if the amount carried out by the outbound personnel is more than 10,000 US dollars, they shall apply for the "Carry Certificates" from the branches of the State Administration of Foreign Exchange where the deposit or foreign exchange purchasing bank is located (hereinafter referred to as the "SAFE"), and the customs will check and release the "Carry Certificates" stamped with the seal of the SAFE.

(1) Carrying the certificate in triplicate, the first is deposited by the issuing bank for check, the second is submitted by the issuing bank to the local foreign exchange bureau for check on a quarterly basis, and the third is deposited by the outbound personnel for customs check.

(2) The carrying certificate shall be stamped with both the "State Administration of Foreign Exchange Carrying Foreign Exchange Outbound Approval Seal" and the "Bank Carrying Foreign Exchange Outbound Special Seal", and shall be valid for one use within 30 days from the date of issuance.

(3) When issuing the carrying certificate, the bank shall require the outbound personnel to fill in the corresponding balance of payments statistical declaration form in accordance with the "Balance of Payments Statistical Declaration Measures".

(4) The bank shall report the issuance of the carrying certificate to the local foreign exchange bureau for verification within 10 days of the end of each quarter.

(5) Banks must issue carry certificates in accordance with the provisions of the state on foreign exchange administration. For banks that violate the regulations, the foreign exchange bureau may, depending on the seriousness of the circumstances, impose fines until it stops issuing the carry certificate. Outbound personnel shall declare to the customs in accordance with the regulations and apply to the foreign exchange bureau or the bank for a carry certificate. Those who violate the regulations shall be punished in accordance with the relevant laws and regulations of the state.

9. How to transfer foreign exchange deposits (including cash and cash) from other banks to our bank?

(1) At present, our bank will open a foreign exchange account in our city's interbank. If you have a foreign exchange account in the corresponding bank above, you can directly handle the transfer (except for the Bank of China, which requires a certain fee, everything else is free).

(2) Transfer of foreign exchange deposits to our bank in the above banks and currencies can be cleared through the clearing account of the Municipal Administration of Foreign Exchange through daily intra-city exchanges.

(3) If there is cash transferred to our bank, you need to go to the counter of other banks to take out the cash before transferring it to our bank. If the deposit amount is large, our bank can send staff to go with you.

10. What are the conditions for foreign exchange settlement of capital projects?

First of all, go to the outer tube to apply for approval. If the one-time foreign exchange settlement is less than 200,000 US dollars (including 200,000 US dollars), you can directly settle the foreign exchange with the application letter and bank bill, but when handling the next payment, you must provide a detailed list of the uses of the previous foreign exchange settlement funds. If 200,000 US dollars or more, provide a written payment order and relevant contract invoice. Pay directly to the designated account.

11. What are the conditions for the sale of foreign exchange for capital items?

Required approval from relevant departments, approved by the Administration of Foreign Exchange, and handled at a designated foreign exchange bank.