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Big cash transactions Over 100,000 yuan will be Restricted
Published on: 2020-06-28
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A bank employee stacks yuan banknotesA bank employee stacks yuan banknotes

China has designated three pilot areas to regulate cash transactions in large amounts amid efforts to strengthen cash circulation management and curb illegal activities, the central bank said.
 

Hebei Province will start the two-year pilot program in July, while Zhejiang Province and the city of Shenzhen will start the experiment in October, according to a plan released by the People's Bank of China.
 

All three pilot areas will regulate cash transactions of 500,000 yuan or above for business accounts.

For personal accounts, Hebei, Zhejiang and Shenzhen have set the thresholds of regulation at 100,000 yuan, 300,000 yuan and 200,000 yuan, respectively.

CASH 02The pilot program will encourage reservation-based cash withdrawals in large amounts, establish a system that records, analyzes and supervises large cash transactions, and prevent risks related to such transactions.
 

With the pilots, the country aims to meet the needs of social and economic development, further improve the cash flow environment and reduce the cost of social management, according to the central bank.
 

It added the thresholds are set to strengthen the monitoring of abnormal cash transactions including those related to tax evasion or dodging supervision, while still meeting the reasonable cash demands of businesses and individuals.
 

The central bank also said that the regulations will not significantly affect normal daily economic activities as multiple payment alternatives are readily available.
 

Besides, the set thresholds are higher than most people's daily cash use, and large cash transactions are not restricted as long as the customers comply with registration rules.
 

7月1日起,私转私、公转私10万元起将被重点监控!

重大消息!刚刚,央行正式发布大额现金管理办法,7月起,河北省开始试点,10万元以上的转账将重点监控!
 

试点时间2年,自2020年7月开始,河北省开始试点。2020年10月起,浙江省和深圳市开始试点。
 

1、对公账户:管理金额起点均为50万元。

2、对私账户:管理金额起点分别是河北省10万元、浙江省 30万元、深圳市20万元。

从文件的内容分析,金额起点既包括单笔,也包括多笔累计,累计的期间应该为一个自然日。
 

客户提取、存入起点金额之上的现金,应在办理业务时进行登记,其中大额的提取还需要预约。商业银行同时应将相关信息上报至人民银行各中心支行。

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