Yes, it is. Generally, the Agricultural Bank will deduct the so-called entrance fee of about 6 yuan. There is no need to declare $500, and the bank will transfer it directly to your personal account after receiving it.

If you take it out, it depends on the size of the bank. Larger branches have reserves that can be withdrawn at any time. Small branches need to make an appointment one day in advance to take it out, without any formalities and certificates.