From March 1st!Personal deposit and withdrawal of cash over 50,000, the bank has a new requirement

2022-05-30 0 By

The People’s Bank of China, China Banking and Insurance Regulatory Commission and China Securities Regulatory Commission jointly issued the Administrative Measures on Customer Due Diligence and Customer Identity Information and Transaction Records of Financial Institutions (hereinafter referred to as the Measures), which took effect on March 1, 2022.”Measures” in a new regulation “personal cash withdrawal more than 50,000 yuan need to register the source of funds” on weibo hot search has several and personal cash withdrawal, remittance, purchase of funds and other closely related content, evening jun also help you to draw the focus.Personal access cash 50000 yuan of above need to registered capital source “method” stipulated in article 10, 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,Understand and register the source or use of funds.(Photo credit:In addition, Article 9 of the Measures stipulates that development financial institutions, policy banks, commercial banks, rural cooperative banks, rural credit cooperatives, village banks and other financial institutions engaged in exchange business,For customers who have not opened accounts in the institution, one-off transactions such as cash remittance, cash exchange, bill payment, trading of physical precious metals, and sales of various financial products with a single transaction amount of more than RMB 50,000 or foreign currency equivalent of more than US $10,000 are provided.Article 12 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 US $10,000.Article 17 points out that non-bank payment institutions establish business relations with customers by opening payment accounts, or sell bearer prepaid cards to customers or sell bearer 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.In view of the above three cases, the Measures provide that financial institutions shall carry out due diligence on customers, register basic information of customers’ identities, and keep copies or photocopies of valid identity certificates or other identification documents of customers.(photo: visual China) prepaid card pay more than RMB 10000 yuan and other non-banking institutions to carry out all the article 17 points out, when other payment institutions deal with the following business, should carry out customer due diligence, basic information and register customer identity, retained customers valid identity certificate copies or photocopies or other identification documents:(1) establishing business relations with customers by opening payment accounts or other means, or selling bearer prepaid cards to customers or selling bearer prepaid cards of more than RMB 10,000 yuan in a lump sum;(2) by signing or tied card and way to pay is not the agency to open accounts of the customers with payment transactions and transaction amount is single RMB or foreign currency equivalent amount more than $1000 of 10000 yuan of above, money within 30 days or bilateral foreign currency equivalent cash amount accumulative total more than 50000 yuan, or $10000 or more;In addition, article 8 states that a financial institution shall not provide services or conduct transactions with unidentified customers, shall not open anonymous or pseudonymous accounts for customers, and shall not open accounts for customers who use the identity of another person.Article 18 points out that Banks, non-bank payment institution specially engaged to provide a single service, should be specially engaged to carry out the customer’s due diligence, and registration of special merchants and its legal representative or chief basic identity information, retained specially engaged and its legal representative or chief valid identity certificate copies or photocopies or other identification documents.In article 19, the trust company to establish a trust or deal with the beneficial right of the trust for customers, at the time of transfer shall identify and verify the client identity, understand the source of the trust property, the identity of the registration of the trustor and the beneficiary basic information, and keep the client a copy of the valid identity certificates or other identification documents or photocopies.Article 20 for clients’ money is trust funds or property belonging to the trust property, financial institutions to establish business relations with customers or provide stipulated amount one-time transaction, shall identify the trustee and the trustee trust relationship, beneficiaries and other effective control of the trust property of natural person identity, to register their names and contact information.Article 21 an 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, finance companies and other financial institutions as determined by the People’s Bank of China, in the purpose of establishing business relations with customers, shall identify and verify customer’s identity,Register the basic information of the customer’s identity, and keep the photocopy or photocopy of the valid identity certificate or other identification documents of the customer.The measures were issued to improve the anti-money laundering supervision mechanism. Financial institutions should conduct an audit at least once a year for clients with the highest risk level of money laundering or terrorist financing.Intensive due diligence measures, such as field visits, should also be taken to understand the customer’s financial or business status.Source: Yueyang Evening News, China Fund News, People’s Bank of China, Yangzi Evening News, etc