Many students and parents have begun to exchange a large amount of RMB into pounds, but many international students don't know how to exchange money. In this regard, Bian Xiao would like to remind everyone that the equivalent of $50,000 is the upper limit of the annual foreign exchange quota.

If the amount of foreign exchange purchased is within the total annual amount, it can be directly reported to the bank with my identity certificate.

If the purchase of foreign exchange exceeds the total annual amount, the bank may purchase foreign exchange after reviewing the certificate of real demand in accordance with the provisions on foreign exchange control.

International students can't provide corresponding certificates. If the amount of foreign exchange purchased is more than $50,000, they must go to the local safe for examination and approval. After approval, foreign students can only purchase foreign exchange at the bank with the approval documents of the State Administration of Foreign Exchange.

At the same time, students who are going to study abroad should also pay attention to the limit of $5,000 in foreign exchange cash, because this is the upper limit.

At present, when exchanging foreign exchange in China, foreign students can exchange part of their living expenses into foreign currency cash in addition to the fixed tuition fees, and take no more than the equivalent of 5,000 US dollars out of the country.

In addition, it is necessary to remind overseas students that when going to the bank to exchange foreign exchange, the relevant vouchers and materials must be complete.

In the first school year, you should bring your passport, valid visa, formal admission notice with your name, fee notice, translator, ID card or household registration book.

The materials to be brought in the second school year include: the notice of charge for this school year, the proof of payment for the previous school year or semester, my power of attorney, student ID card and other proof of study, a copy of my passport and valid visa, and my or my agent's ID card or household registration book.

At present, the remittance methods provided by banks are basically telegraphic transfer, bank draft, credit card and traveler's check. Wire transfer is safe and fast, but the handling fee is high; Although the cost performance is high, the remittance speed is relatively slow.

With the increasing number of students studying abroad, major banks have also made great efforts to launch many dual-currency cards for international students, and dual-currency international credit cards are the first choice.

Dual-currency international credit card can realize the dream of fast exchange of foreign exchange. Children can go abroad for consumption with the secondary card, and after consumption, the parents of the main card will handle the RMB repayment business for them in China.