What is the difference between cash exchange and cash The difference between cash exchange and cash

There are three differences between cash and cash:

1. The meaning of the two is different:

1. The meaning of cash: cash is a form of physical object, which refers to specific and real foreign banknotes and coins.

2. The meaning of spot exchange: Spot exchange refers to the foreign exchange of various payment vouchers expressed in foreign currency, which can be circulated and transferred in the international market and can be freely exchanged for the currencies of other countries. Such as the US dollar, British pound, Swiss franc, Deutsche mark and other major Western currencies.

2. The essence of the two is different:

1. The essence of cash: when customers want to transfer cash out of the country, they can carry it or remit it. However, when the customer takes the "remittance", because the cash is in the form of a physical object, the bank must ship it abroad, and the transportation cost will be borne by the customer, which is manifested as "banknote selling and foreign exchange buying"."(Customers sell cash, ** cash exchange).

It can be seen that cash cannot be turned into an equal amount of cash, and if you want to turn cash into cash, the customer will suffer a certain loss on the amount of foreign exchange.

2. The essence of spot exchange: foreign currency bills remitted from or brought in from abroad are transferred to the individual's bank account in the form of transfer. Spot exchange is the foreign exchange on the books.

There is no physical transfer of its transfer, and it can be directly remitted, but it is only a transfer on the books. When cash is withdrawn, the same amount of cash can be withdrawn because the remitting party has already borne the transportation costs.

Third, the management of the two is different:

1. Management of cash: the price of cash is less than the price of cash, and the selling price of cash is equal. This shows that the country's foreign exchange management policy is to encourage the holding of cash exchange and restrict the holding of cash, because cash exchange is more convenient for foreign exchange management than cash as a fund on the books.

2. Management of spot exchange: there is no restriction on current items (** and non-** payments) and fund transfers in the country's balance of payments; No discriminatory currency measures or multi-currency exchange rates; At the request of another Member State, it is obliged at any time to repurchase the national currency of the other State's current account exchanges.

Freely convertible currencies are widely used in international exchange settlements, can be freely bought and sold in international financial markets, and can be exchanged for the currencies of other countries without restrictions. In the international market, imports and exports settled in these freely convertible currencies are called spot exchange.

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"Foreign exchange account" includes "Spot Account" and "Cash Account". "Spot account" refers to the foreign exchange bill transfer deposit account remitted or brought in from Hong Kong, Macao, Taiwan or overseas; "Cash Account" refers to a foreign currency cash deposit account held by an individual resident in China.

The foreign exchange remitted by individual residents from abroad or the foreign exchange bills brought in by individual residents can be understood as "spot exchange", which can be stored in a spot exchange account; Freely convertible foreign currency banknotes brought in or held by individual residents from abroad can be stored in cash accounts.

Cash and cash exchange are two different forms of foreign exchange assets held by customers

1. Spot exchange refers to the foreign currency bills remitted from or brought in from abroad, which are transferred to the personal account in the bank in the form of transfer, and the corresponding spot exchange account is opened;

2. Cash refers to the cash account opened in foreign currency or the money deposited in the bank in foreign currency.

Note: At present, Ping An Bank does not divide the cash account and the spot exchange account, and it is regarded as the spot exchange account.

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In fact, the meaning is not too much.

After paying the remittance fee in cash, it can be remitted directly, and the cash is to be traded abroad, it is different, and it is also necessary to pay the difference between the cash exchange and the cash, that is, the difference between the bank price Zheng Lu Jingli, the cash ** price and the spot exchange ** price.

As a common currency in China, there is no need to pay additional fees when using RMB, but if you want to use foreign currency cash in China, you not only have to pay a sum of money for packaging, transportation and insurance, but also cannot be used as a common currency. The current call for prudent exchange is to transfer through the form of books, and from the perspective of transaction methods, it does not involve physical currency. Therefore, in the foreign exchange rate announced by the bank, the cash and the spot exchange are not equivalent, generally speaking, the ** price of the cash is cheaper than the ** price of the spot exchange.

1. The nature is different.

Spot exchange refers to the foreign exchange of various payment vouchers expressed in foreign currency, which can be circulated and transferred in the international market and can be freely exchanged for the currencies of other countries. For example, the US dollar, the pound sterling, the Swiss franc, the German mark and other currencies of major Western countries. It refers to the foreign currency bills remitted from or brought in from abroad, which are transferred to an individual's bank account in the form of transfer.

Foreign exchange banknotes are concrete, actual foreign banknotes and coins. When customers want to transfer cash out of the country, they can carry it or remit it. However, when the customer takes the "remittance", because the cash is in the form of a physical object, the bank must ship it abroad, and the transportation cost will be borne by the customer, which is manifested as "banknotes sold and bought.""(Customers sell cash, ** cash exchange).

2. Different from the perspective of storage.

After the bank receives foreign currency cash, it must accumulate a certain amount of money for a period of time before it can be transported and deposited in a foreign bank for allocation and use, during which the bank has to bear a certain amount of interest losses and expenses such as freight and insurance premiums during transportation.

The bank wants to pass on these losses and expenses to the customer who sells the cash, so the bank's cash is lower than the cash exchange, that is, when the customer sells the cash in his hand, it is a little lower than the cash exchange.

3. The value is different.

Taking the U.S. dollar as an example, when remitting money abroad, the amount of cash is limited to the equivalent of 2,000 U.S. dollars, and the cash exchange is equivalent to 50,000 U.S. dollars.

Cash refers to foreign banknotes held by an individual. Spot exchange refers to foreign currency bills and certificates.

Encyclopedia - Cash.

Encyclopedia - Spot.

"Spot exchange account" refers to the foreign exchange bill transfer deposit account remitted or brought in from Hong Kong, Shiyanao, Taiwan or overseas;

"Cash account" refers to a foreign currency cash deposit account held by an individual resident in China. The foreign exchange remitted by individual residents from abroad or the foreign exchange bills brought into Sorollyu can be understood as "spot exchange", and can be stored in a spot exchange account;

1. First of all, the ** price refers to the exchange rate used by the foreign exchange bank ** foreign exchange, and the selling price is the exchange rate used by the foreign exchange bank when selling foreign exchange, and the foreign exchange at this time refers to the foreign exchange deposited by foreign banks, such as the US dollar. Therefore, the ** price and the selling price on the foreign exchange rate are the spot exchange rate.

2. Secondly, the cash price is used by foreign exchange banks when selling cash, and cash refers to foreign exchange cash (banknotes), not foreign bank deposits.

3. Again, because spot exchange and cash are two different concepts, when the bank ** cash exchange, it can directly transfer the foreign exchange it buys to its foreign bank account, there is no interest loss, and when buying foreign currency cash, it needs to be kept in the bank's inventory for a period of time, so that it can be deposited in other banks to obtain interest after collecting enough foreign currency cash (such as 1 million US dollars), so the bank has an interest loss on buying foreign currency cash relative to buying cash exchange, and this part of the loss is of course borne by the party who sells foreign currency cash. Therefore, in the bank's **, the cash ** price must be lower than the spot exchange ** price, and this law will never change, just as the deposit interest rate will always be lower than the loan interest rate.

4. Finally, the selling price of cash is consistent with the selling price of spot exchange, because in this case, there is no interest loss for the bank.