Domestic individuals selling or buying foreign exchange (that is, settlement and sale of foreign exchange) shall be subject to annual total management. The annual total is equivalent to 50,000 dollars per person per year. Individuals who purchase foreign exchange with the equivalent of less than $50,000 within one year can go directly to the bank with their valid identity documents. If it exceeds the limit, in addition to the valid personal identity documents, it is necessary to go to the designated foreign exchange bank to handle the relevant certification materials that need to be paid.
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All commercial banks in Chinese mainland do not exchange foreign currency cash, including foreign currency that has stopped circulating, slightly damaged foreign currency and foreign currency of some small currency countries. In Chinese mainland, there are a large number of valuable foreign banknotes with small face value, slight damage and small currency value.
Through the secured transaction function of Alipay, the leading independent third-party payment platform in China, these valuable banknotes will be returned to the issuing country through legal channels, thus reducing the people's unnecessary foreign exchange settlement losses.
Old banknotes that have not been invalidated but withdrawn from circulation, such as US dollar, British pound, Swiss franc, Norwegian krona, Swedish krona, Danish krona, Canadian dollar, Australian dollar, New Zealand dollar, New Taiwan dollar, Hong Kong dollar, Macau pataca, Japanese yen, Korean won, Singapore dollar, Brunei dollar and Malaysian ringgit.
Baidu encyclopedia-foreign exchange