The act of helping others to exchange foreign currency can be identified as buying and selling foreign exchange privately, buying and selling foreign exchange in disguise, buying and selling foreign exchange in reverse, or illegally introducing and buying and selling foreign exchange. According to the size of the illegal amount, penalties such as warning, confiscation of illegal income and fines can be given. If the circumstances are serious, they may face criminal responsibility, including but not limited to fixed-term imprisonment or criminal detention, as well as fines or confiscation of property.
Foreign currency exchange must meet the following conditions:
1, valid ID card. I need to bring my valid identity documents, such as resident identity cards, valid military identity cards, Hong Kong and Macao residents' travel permits to and from the mainland, passports of mainland travel permit for taiwan residents and foreign citizens, etc.
2. Application for purchasing foreign exchange. Fill in the application form for personal foreign exchange purchase at the bank and hand it over to the staff.
3. Annual total amount limit. According to the Detailed Rules for the Implementation of the Measures for the Administration of Personal Foreign Exchange, the annual total is equivalent to $50,000 per person per year.
4. Provisions on taking foreign currency out of the country. According to the regulations of China Customs, each person can carry no more than RMB 20,000 or USD 5,000 in cash or equivalent foreign currency. If it exceeds the quota, it must be declared to China Customs before leaving the country.
To sum up, it is illegal to exchange foreign currency for others, and you should go to the exchange window of the bank to exchange it.
Legal basis:
Regulations of People's Republic of China (PRC) Municipality on Foreign Exchange Control
Article 45
Buying and selling foreign exchange without permission, buying and selling foreign exchange in disguised form, buying and selling foreign exchange in reverse, or illegally introducing and buying and selling foreign exchange in a large amount shall be given a warning by the foreign exchange administration organs, the illegal income shall be confiscated, and a fine of less than 30% of the illegal amount shall be imposed. If the circumstances are serious, a fine of not less than 30% but not more than the equivalent of the illegal amount shall be imposed. If a crime is constituted, criminal responsibility shall be investigated according to law.