Personal settlement of foreign exchange refers to the behavior of individual residents who completely own and freely dispose of foreign exchange income obtained from abroad and sell it to designated foreign exchange banks or chartered currency exchange institutions, and the designated foreign exchange banks or institutions pay the equivalent RMB at the exchange rate on the transaction day.

Personal purchase of foreign exchange refers to the behavior that individual residents buy foreign exchange from banks for overseas payment, and designated foreign exchange banks sell foreign exchange to foreign exchange users and collect the equivalent RMB according to the RMB exchange rate on the transaction day. The characteristic of personal settlement and sale of foreign exchange is that by handling this business, the scope of personal foreign exchange business products of banks can be expanded, and individuals can be provided with the opportunity to choose multiple banks to purchase foreign exchange. Personal settlement and sale of foreign exchange is applicable to individual customers.