What are the main relevant regulations on cross border foreign exchange payment and settlement of ba

Legal Analysis: In 2020, the regulations on personal remittance abroad are as follows:

1. Cash receipts and expenditures with a single or cumulative transaction amount of more than RMB 50,000 (including 50,000 yuan) and foreign currency equivalent of more than 10,000 US dollars (including 10,000 US dollars) on the same day.

2. The payment account of a non-natural person customer is transferred to another account with a single or cumulative transaction amount of more than RMB 2 million (including RMB 2 million) and the equivalent of USD 200,000 (including USD 200,000) in foreign currency on the same day.

3. Domestic fund transfers with a single or cumulative transaction amount of more than RMB 500,000 (including RMB 500,000) and foreign currency equivalent of more than USD 100,000 (including USD 100,000) between the payment account of a natural person customer and other accounts on the same day.

4. Cross-border transfers of a single or cumulative transaction amount of more than RMB 200,000 (including RMB 200,000) and the equivalent of US$10,000 in foreign currency (including US$10,000) between the payment account of a natural person customer and other bank accounts on the same day.

In other words, from January 1, 2019, personal overseas remittances with a single day transaction of 50,000 yuan and a transfer of more than 200,000 yuan will be subject to the monitoring of the central bank.

At the same time, the upper limit of foreign exchange that an individual can purchase within a year is 50,000 US dollars equivalent in foreign currency, and an individual must not pay foreign currency to overseas enterprises; As an enterprise, if it needs to remit money overseas, it needs to apply for import and export rights, purchase foreign exchange from the bank with relevant documents and remit money overseas; As a business in China, it is not allowed to send money to individuals abroad.

Legal basis: Measures for the Administration of Individual Foreign Exchange Article 2 Individual foreign exchange business is divided into domestic and overseas personal foreign exchange business according to the subject of the transaction, and the individual foreign exchange business under the current account and capital account according to the nature of the transaction. The management of personal foreign exchange business according to the above classification.

The international settlement currencies are US dollar (USD), German mark (DEM), Japanese yen (JPY), Swiss franc (CHF), French franc (FRF), Italian lira (ITL), Dutch guilder (NLG), Belgian franc (BEU), Danish krone (DKR), Swedish krone (SKR), Norwegian krone (NKR), Austrian shilling (ATS), Hong Kong dollar (HKD), Canadian dollar (CAD), Australian dollar (AUD), New Zealand dollar (NZD) , Singapore Dollar (SGD), Euro (EUR), British Pound (GBP), etc.

First, foreign exchange as a means of payment for international settlement, is an indispensable tool for international economic exchanges, to promote international economic development and political and cultural exchanges, debt relations occur between different countries, due to different monetary systems, a country's currency can not be circulated in other countries, in addition to the delivery of internationally recognized means of repayment, the purchasing power between different countries is impossible to transfer.

Second, with the development of the bank's foreign exchange business, a large number of credit instruments (such as bills of exchange) representing foreign exchange are used internationally, making it possible to transfer the purchasing power of currencies between different countries.

Promote the development of international** and capital flows. Foreign exchange is the product of international economic exchanges. Without foreign exchange, it will not be possible to accelerate the international turnover and use of funds, and international economic, financial and financial exchanges will be hindered.

The use of foreign exchange to settle international creditor's rights and debts can not only save the cost of transporting cash and avoid the risk of transporting, but also avoid the backlog of funds, accelerate the turnover of funds, and thus promote the development of international commodity exchange and capital flow.

Facilitate the adjustment of international capital supply and demand. For example, in order to accelerate the pace of construction, developing countries need to make selective use of long-term and short-term credit funds in the international financial market, and there is also a need to find a way out of the surplus funds of developed countries. Therefore, foreign exchange can play a role in adjusting the surplus and deficit between countries.

The accumulation of foreign exchange used to balance the balance of payments, stabilize the exchange rate, and repay external debts.

Third, international settlements can be broadly divided into three categories: remittances, letters of credit and collections. Remittance --- remittance mainly includes bill transfer and telegraphic transfer, and at present, the most used is telegraphic transfer (T t), and paper mail bill remittance has been rarely used.

The telegraphic transfer in international settlement can be understood as the domestic inter-bank remittance, but the domestic inter-bank remittance is realized through the clearing system of the People's Bank of China to realize the inter-bank transfer of funds, while the telegraphic transfer in the international settlement is through SWIFT (Society for Worldwide Interbank Financial Telecommunication) for inter-bank fund transfer. In practice, the importer submits a remittance application to the bank, fills in the foreign exchange remittance application form (at present, most banks have opened an online banking application, and there is no need to go to the bank branch), and provide the corresponding background materials (contract, proforma invoice, etc.).

Dynamically speaking, foreign exchange is the conversion of one country's currency into another country's currency, and its international circulation is used to settle claims and debts arising from international economic exchanges. Statically speaking, foreign exchange is also manifested as a means and instrument for international settlement, such as foreign currency, denominated in foreign currency. It can be seen that foreign exchange is a means of payment expressed in foreign currency for international settlements.

The commonly used international settlement currencies are the US dollar (USD), the German mark (DEM), the Japanese yen (JPY), the Swiss franc (CHF), the French franc (FRF), the Italian lira (ITL), the Dutch guilder (NLG), the Belgian franc (BEU), the Danish krone (DKR), the Swedish krone (SKR), the Norwegian krone (NKR), the Austrian shilling (ATS), the Hong Kong dollar (HKD), the Canadian dollar (CAD), the Australian dollar (AUD), New Zealand Dollar (NZD), Singapore Dollar (SGD), Euro (EUR), British Pound (GBP), etc.

The balance of payments declaration is exempted from declaration under the limit for private foreign-related receipts and payments with an amount of less than US$5,000 equivalent (including US$5,000), that is, the individual reporting entity is exempted from filling in the declaration information in the foreign-related receipts and payments voucher (transaction code, transaction epilogue, name of the country (region) where the payee and payer is resident and **), except for the funds received and paid overseas by domestic non-resident individuals through domestic banks.

For inward remittances whose remittance amount exceeds the balance of payments declaration limit (US$5,000), the procedures shall be handled in accordance with the relevant declaration and statistical regulations of the local foreign exchange administration. (According to the regulations, you should go to the bank to go through the declaration procedures within T+5 days, so under normal circumstances, the Bank of China branch will notify you as soon as possible after the remittance is released.) If you cannot provide the information and materials that meet the declaration requirements, it may affect the accounting.

The above content is for your reference, and the actual business regulations shall prevail.

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Our remittance fees are borne by the remitter, Shufeng Yu SHA is that the remittance fees are borne by the remitter and the payee, and BEN is the remittance fees are borne by the recipient of the potato section.

The above content of the foundation beam is for your reference, and the business regulations are subject to the actual situation.

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The remittance bank is responsible for reviewing the valid identity documents, household registration booklet or notarized documents issued by the notary department provided by the transfer applicant to ensure that the payee is the applicant or his close relatives, and the transfer of accounts with different names must clearly indicate the immediate family relationship between the transfer applicant and the payee in the transfer message; Otherwise, the remitting bank will not go through the account entry procedures, but the remitting bank shall immediately make inquiries to the remitting bank and shall not directly handle the refund of foreign exchange. Due to the differences in business in individual regions, for more information, please enter **customer service manual service or call Bank of China customer service**95566 for manual consultation.

The above content is for your reference, and the actual business regulations shall prevail.

Handle related business.