Almost every country has detailed rules on the amount of cash one can take in or out a country. Why do countries have strict regulations on cash-taking during border exit/entry? That because they need to know exactly the purpose of that cash, where it comes from and where it goes.
A traveler takes excessive cash with him or her and fails to declare at the Customs, the Customs inspectors will suspect the money as ill-gotten one and think it will be used for other illegal purposes like money laundering.
Take the US for example. If you take too much cash to enter the country and have no declaration, the results could be: your exceeded cash will be confiscated, you will get fined or even charged. Only in Los Angeles airport every year, millions of US dollars are confiscated from those who take excess cash.
Following are detailed cash-carrying rules on China’s entry and exit, by knowing them well will help you stay away from troubles when passing the customs.
Q: How much foreign currency can take in or out of China?
A: For this aspect, the document of China’s Interim Administration Measures for Foreign Currency Notes in Entry and Exit has explicit rules:
Travelers entering China with no more than the equivalent of 5,000 US dollars don’t have to declare. More than the equivalent of 5,000 US dollars, should be written to declare at the time of entry. Multiple round trips in one day and short-term multiple round trips are not included. There is no upper limit for travelers’ foreign currency cash.
- One carries the foreign currency cash out of the country and doesn’t exceed the amount of the foreign currency cash in the latest entry, he or she does not need to apply for the Permit for Taking Foreign Currency out of the Customs Territory.
- One carries cash of value less than USD 5000 equivalent to exit the country, he or she does not need to apply for the Permit.
- If the amount of money carried by the person leaving the country is between USD 5,000 and USD 10,000 of the equivalent value, he or she shall apply to the bank for a carrying permit, which shall be issued by the bank with its seal on it. The customs will not release those who carry foreign currency of more than 10,000 equivalent USD in total with more than one carrying permits.
Q: How much Chinese currency can take in or out of the country?
A: Currently, travelers are allowed to carry 20000RMB to enter or leave China.
Q: Will be the exceeded part confiscated?
A: For those who carry excessive Chinese currency and make no declarations, then the customs will tax or confiscate the exceeded part and the carrier will also get fined for that.
Q: Can a traveler take cheque or other payment documents?
A: The Chinese customs currently has no regulations on payment documents like the bill, traveler’s cheque, international credit card, and bank deposit certificate. In other words, currently, these are allowed to carry to pass.
♦ If you found this article useful, please join our newsletter by using the forms on this website so we can stay in touch.
Featured Photo By Wikipedia.com