Legal analysis: Personal current account foreign exchange business should have a real and legal trading background. Individual settlement of foreign exchange and domestic individual purchase of foreign exchange are subject to the annual facilitation quota management, and the facilitation quota is equivalent to $50,000 per person per year. Individuals with valid identity documents handle the settlement and purchase of foreign exchange in the bank within the annual convenient limit. The household registration book marked with the ID number and the temporary id card can be used as valid identity documents for domestic individuals. Domestic and foreign individuals engaged in market procurement trade can handle the settlement of market procurement trade that meets the requirements of Article 5 of this Notice through their personal foreign exchange accounts. Individuals who handle foreign exchange settlement under market procurement trade and provide transaction amount certification materials or transaction electronic information do not occupy the personal annual facilitation quota. Domestic individuals, with their valid identity documents and materials for the use of foreign exchange purchase funds, can purchase foreign exchange in the current account at the bank without occupying the annual convenient quota.

Legal basis: Article 13 of the Law of People's Republic of China (PRC) Commercial Bank establishes a national commercial bank with a minimum registered capital of 10 billion yuan. The minimum registered capital for establishing city commercial banks is 1 100 million yuan, and the minimum registered capital for establishing rural commercial banks is 50 million yuan. Registered capital shall be paid-in capital. The banking supervision institution of the State Council may adjust the minimum registered capital according to the needs of prudential supervision, but it shall not be lower than the limit specified in the preceding paragraph.