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Foreign Currency Exchange |
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Definition of foreign currency banknote exchange
Foreign currency banknote exchange refers that the domestic and foreign individuals conduct the exchange business between foreign currency banknote and RMB with their ID card or passport at Personal Foreign Exchange Business Center of the Bank.
Convertible currencies
Rubles, U.S. dollars, Japanese yen, Hong Kong dollars, Euro, Pound
Business process
1. You can hold the ID card or passport to the Bank to conduct foreign currency banknote exchange business.
2. For converting foreign currencies to RMB, foreign currencies will be converted into equivalent RMB at the cash purchasing rates released by the Bank at the same day, and the Bank will open foreign exchange memo and pay the customer RMB in cash.
3. For converting RMB to foreign currencies, RMB will be converted into equivalent foreign currencies at the selling rates released by the Bank at the same day, and the Bank will open foreign exchange memo and pay the customer foreign currencies in cash.
4. Customers holding foreign passports should pay attention to keep the memo, and they can use the foreign exchange memo within six months to convert back part of the foreign currencies one-time.
5. According to the relevant provisions of the State Administration of Foreign Exchange, conduct foreign currency banknote exchange business should strictly implement "Personal Foreign Exchange Management Regulations" and the implementation rules issued by the State Administration of Foreign Exchange.
Converting foreign currencies to RMB
① Foreign currency banknote exchange less than USD5,000 (inclusive) can be handled directly in the Bank;
② For foreign currency banknote exchange more than USD5,000 but less than USD50,000 (inclusive), the managing bank will require you to provide relevant supporting documents and record them before handling;
③ For exchange more than USD50,000, the managing bank will require you to provide relevant supporting documents and SAFE's approvals before handling;
Converting RMB to foreign currencies
① Foreign currency banknote exchange less than USD10,000 (inclusive) can be handled directly in the Bank;
② For foreign currency banknote exchange more than USD10,000 but less than USD50,000 (inclusive), the managing bank will require you to provide relevant supporting documents and record them before handling;
③ For exchange more than USD50,000, the managing bank will require you to provide relevant supporting documents and SAFE's approvals before handling.
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