Effective from March 1!New changes in cash withdrawal!

2022-06-15 0 By

Recently, the People’s Bank of China, bank of China insurance regulatory commission, China Securities Regulatory Commission recently issued by the financial institutions customer due diligence and client id information and transaction records management method “(bank of China, the insurance supervision and administration commission of the People’s Bank of China The China Securities Regulatory Commission to [2022] no. 1,The Measures shall come into force on March 1, 2022.Among them, “method” mentioned in article 10 of commercial Banks, rural cooperative Banks, rural credit cooperatives, village Banks and other financial institutions for natural customers deal with single 50000 yuan of above, or foreign currency more than 10000 dollars in cash equivalent access to business, shall identify and verify customer’s identity, to understand and the source of the registered capital or USES,Follow the rules of large cash management.In addition, as required by the Measures, financial institutions shall conduct due diligence on customers or identify and verify customers’ identities, register basic information of customers’ identities, and retain photocopies or photocopies of customers’ valid identity certificates or other identification documents:Article 9 of the Measures states thatDevelopmental financial institution, policy Banks, commercial Banks, rural cooperative Banks, rural credit cooperatives, village Banks and other financial institutions and engaged in exchange for not open an account the agency provide cash remittance, cash conversion and bill payment, physical precious metals trading, sales of various financial products and so on the disposable single transaction and transaction amount RMB 50000 yuan of aboveOr the foreign currency equivalent of more than US $10,000;One-off transactions include several transactions that are obviously related and reach the above sum within 5 days.Article 12 of the Measures points out that securities companies, futures companies, securities investment fund management companies and other institutions engaged in fund sales sell various financial products to customers who have not opened accounts with their own institutions and the transaction amount is more than RMB 50,000 for a single transaction or the foreign currency equivalent is more than USD 10,000.Article 17 of the Measures points out that non-bank payment institutions establish business relations with customers by opening payment accounts, or sell registered prepaid cards to customers or sell unregistered prepaid cards of more than RMB 10,000 yuan in a lump sum.Provide payment transaction processing for customers who do not open payment accounts in the institution by signing contracts or tying cards, and the transaction amount is more than RMB 10,000 for a single transaction or usd 1,000 of foreign currency equivalent, or the accumulative amount of bilateral payment and receipt of RMB 50,000 or USD 10,000 of foreign currency equivalent within 30 days.”Method” article 21 points, insurance asset management company, financial assets management companies, enterprise group finance companies, financial leasing companies, auto finance companies, consumer finance companies, currency brokerage companies, loan companies, bank financial subsidiaries and other financial institutions as determined by the People’s Bank of China in the financial business contracts with customers and trading amount more than $50000.