Individuals holding a large amount of dollars are not illegal as long as they abide by the relevant laws and regulations.

Article 3 Foreign exchange as mentioned in these Regulations refers to the following means of payment and assets expressed in foreign currencies that can be used for international settlement:

(a) Cash in foreign currencies, including banknotes and coins;

(2) Foreign currency payment vouchers or payment instruments, including bills, bank deposit vouchers, bank cards, etc. ;

Foreign currency securities, including bonds and stocks;

(4) Special drawing rights;

(5) Other foreign exchange assets.

Article 4 These Regulations shall apply to the foreign exchange receipts and payments or foreign exchange business activities of domestic institutions and individuals, and the foreign exchange receipts and payments or foreign exchange business activities of overseas institutions and individuals in China.

It is ok to buy some dollars in the bank as a family savings deposit, which is not illegal;

Extended data;

First, US dollar deposits belong to foreign currency savings business in China. At present, foreign currency deposits only support current and fixed deposit types. Most banks can open foreign currency savings accounts, including US dollars. However, this kind of savings account cannot be settled in consumption abroad, but only in China, and there are strict foreign exchange control measures. If there is demand for consumption abroad, you can apply for dual-currency credit cards from various banks.

Foreign exchange banks play an important role in organizing and creating the foreign exchange market. A foreign exchange bank is usually a commercial bank, which can be a domestic bank specializing in foreign exchange business, a domestic bank concurrently engaged in foreign exchange business or a branch of a foreign bank in China. Foreign exchange banks are the most important participants in the foreign exchange market, and their foreign exchange transactions constitute the main body of foreign exchange market activities.

Second, the interest of banks that deposit dollars:

1, state-owned banks

The interest rates of state-owned banks such as China Construction Bank, Industrial and Commercial Bank of China and Agricultural Bank are generally low. At present, the annual interest rate is 0.0500%, the one-year lump-sum deposit and withdrawal rate is 0.8000%, and the two-year lump-sum deposit and withdrawal rate is 0.8000%.

2, joint-stock silver

China Merchants Bank: the current annual interest rate is 0.0500%, the one-year lump-sum interest rate is 0.7000%, and the two-year lump-sum interest rate is 0.7000%.

Minsheng Bank: the current annual interest rate is 0.0500%, the one-year lump-sum deposit and withdrawal annual interest rate is 0.7500%, and the two-year lump-sum deposit and withdrawal annual interest rate is 0.7500%.

China CITIC Bank and Shanghai Pudong Development Bank: the current annual interest rate is 0.0500%, the one-year lump-sum deposit and withdrawal annual interest rate is 0.8000%, and the two-year lump-sum deposit and withdrawal annual interest rate is 0.8000%.

In the RMB deposit business, the deposit interest rate of joint-stock banks is generally higher than that of state-owned banks, but the deposit interest rate of US dollars is not as good as that of state-owned banks.

3. Chinese banks

The interest rate of US dollar deposits of Chinese banks is higher than that of state-owned banks and joint-stock banks. Take Hangzhou Bank as an example. At present, the small dollar interest rate is 0. 1%, and the one-year lump-sum deposit and withdrawal rates and the two-year lump-sum deposit and withdrawal rates are 1% and 1.2% respectively.

4. Foreign banks

The interest rate of one-year US dollar time deposit in some foreign banks has reached more than 3%. For example, the annual interest rate of uob 13-month US dollar time deposit is 3. 18%, and the one-year US dollar time deposit rate of Bank of East Asia is as high as 3. 1%.

On the whole, some Chinese banks and foreign banks have higher interest rates on US dollar deposits. It should be noted that there may be a difference between the deposit interest rate announced by banks in official website and the actual interest rate of outlets, and not all bank outlets can handle US dollar deposits. Please consult your local bank outlets for details.