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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    China sets a ceiling for overseas withdrawals using local bank cards

    Rocky
    Rocky
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     China sets a ceiling for overseas withdrawals using local bank cards Empty China sets a ceiling for overseas withdrawals using local bank cards

    Post by Rocky Mon 01 Jan 2018, 2:05 am

    [size=30]China sets a ceiling for overseas withdrawals using local bank cards[/size]
    31/12/2017 10:57 | Number of readings: 161
    font size:  China sets a ceiling for overseas withdrawals using local bank cards Font_decrease  China sets a ceiling for overseas withdrawals using local bank cards Font_enlarge
     China sets a ceiling for overseas withdrawals using local bank cards Thumbnail.php?file=e2aa020fdd5944d8a986d07663c82c23_289907516
    Trend Press / Agencies
     
     
    China's foreign exchange regulator said it would impose a maximum of 100,000 yuan ($ 15,370) a year for overseas withdrawals using local Chinese bank cards in an effort to target money laundering, terrorist financing and tax evasion.
     
    The foreign exchange authority said in a statement on its website on Sunday that individuals who exceed the annual limit will be banned from foreign transactions for the rest of the year and an additional year.
     
    Under the new rules, the Foreign Exchange Authority will provide a daily list of individuals who are prohibited from carrying out external withdrawals using bank cards, the announcement said.
     
    "Local card users will also be prevented from withdrawing more than 10,000 yuan a day abroad," he said.
     
    "The new rules will come into force on January 1 and the banks will have to implement the amendments by April 2018," he said.


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