It has always been very convenient for everyone to go to the bank to deposit and withdraw money, and you can access it at any time within 50,000 yuan, and there will be no restrictions.
However, from March 1, 2022, if the amount of deposits and withdrawals exceeds 50,000 yuan, some obvious changes will occur, and real-name registration must be carried out.
The central bank requires that after March 2012, the limit limit of more than 50,000 yuan needs to be registered.
On 26 January 2022, the PBOC released Document No. 1 of 2022 entitled "Measures for the Administration of Customer Due Diligence and Customer Identity Information and Transaction Record Preservation of Financial Institutions" on its official website, which came into effect on 1 March 2022.
This document provides very detailed provisions on the transaction records of financial institution customers, and Article 10 of it explicitly states:
Where commercial banks, rural cooperative banks, rural credit cooperatives, village and township banks and other financial institutions handle cash deposits and withdrawals of a single RMB of more than 50,000 yuan or a foreign currency equivalent of more than US$10,000 for natural person customers, they shall identify and verify the identity of the customer, understand and register the source or purpose of the funds.
This means that from March 1, 2022, everyone will need to fill in detailed information when they go to the bank to deposit and withdraw more than 50,000 yuan.
Judging from the information disclosed by the media, the registration content of large cash withdrawals mainly includes name, card number, amount, industry category, withdrawal purpose, and also needs to be reviewed and signed by the person in charge of the outlet.
There is a very detailed content in this, that is, the purpose of withdrawal, of which the registration content of public customers and individual users is different, and the withdrawal purposes registered by individual users are mainly in several categories:
Food, tobacco and alcohol; clothing; housing; daily necessities and services; transportation and communications; education, culture and entertainment; health care; personal collectibles trading; operating expenses; overseas consumption; overseas investment; overseas trade; others.
The content of the deposit registration is similar to the withdrawal, but in the individual user deposit source, the content is not the same, the main source has several options:
Income from wages and salaries; income from the production and operation of individual industrial and commercial households; income from contracted operation and leasing of enterprises and public institutions; income from labor remuneration; income from authors' remuneration; income from royalties; income from interest, dividends, and dividends; income from property leases; income from property transfer; personal collectibles transactions; operating income; withdrawals from overseas financial institutions; exchange by overseas exchange agencies; surpluses carried out of the country in the early stage; and others.
Judging from the content of these registrations, the content of the registration is still very detailed, and everyone must fill in truthfully, otherwise it may be targeted by the regulatory authorities at any time.
In fact, the real-name registration of large cash withdrawals is not only now, as early as 2020, the central bank began a large cash registration pilot in some provinces and cities.
In 2020 Chinese Minmin Bank issued the Notice on Carrying Out Large Cash Management Pilot Projects, and decided to carry out large-amount cash management work on a pilot basis in Hebei Province, Zhejiang Province and Shenzhen City from July 1, 2020, with a pilot period of 2 years.
Among them, Hebei Province began to implement deposits and withdrawals from July 1, 2020, more than 100,000 yuan need to be registered, Zhejiang Province and Shenzhen City from October 10, 2020 to implement, of which Shenzhen access more than 200,000 need to register, Zhejiang access more than 300,000 need to register.
Why does the central bank require deposit and withdrawal of more than 50,000 cash, and must be registered in real name?
Some netizens may be curious, why do the regulatory authorities implement real-name registration of large cash deposits and withdrawals?
In fact, the most fundamental reason for this is to combat money laundering and prevent financial risks.
In the past few decades, with the continuous development of the mainland's economy and society, money laundering activities have become more and more frequent, and money laundering has become more and more hidden.
However, with the continuous development of science and technology, there are now more and more anti-money laundering means in the mainland, and the online money laundering activities have basically been blocked, in this context, many criminals will be offline money laundering, through the deposit and withdrawal of cash to achieve the purpose of money laundering.
In order to combat this offline money laundering, the mainland regulatory authorities and the banking industry have been very strong in cracking down on money laundering, such as the introduction of the "Administrative Measures for the Reporting of Large Transactions and Suspicious Transactions of Financial Institutions" a long time ago, if the user withdraws cash or transfers a certain amount, it will be reported as a large amount of suspicious transactions.
Although banks have been very strict in monitoring large suspicious transactions in recent years, there are still many people who use some more covert means to achieve money laundering purposes, especially through small amounts of decentralized cash deposits to achieve money laundering purposes, which makes it difficult for regulators to trace.
If money laundering can not block some criminal activities, it can not be stopped, for example, in recent years, telecommunications fraud is very rampant, and the proceeds of these telecommunications fraud are through various hidden means to launder money to legalize the proceeds of fraud, which makes many victims suffer huge losses.
In order to further combat this kind of money laundering and prevent the occurrence of some criminal activities, in early 2022, the Chinese Bank of China, the Ministry of Public Security, the State Supervision Commission, the Supreme People's Court, the Supreme People's Procuratorate, the Ministry of State Security, the General Administration of Customs, the State Administration of Taxation, the Banking and Insurance Regulatory Commission, the Securities Regulatory Commission, and the State Administration of Foreign Exchange jointly issued the "Three-Year Action Plan for Combating Money Laundering And Crimes (2022-2024)". It was decided to carry out a nationwide three-year campaign to combat money laundering crimes from January 2022 to December 2024, led by the Chinese Bank and the Ministry of Public Security.
After the issuance of this document, Chinese Min min bank immediately issued the "Measures for the Management of Customer Due Diligence and Customer Identity Information and Transaction Record Preservation of Financial Institutions", requiring users to deposit and withdraw more than 50,000 yuan in cash (more than 10,000 US dollars in foreign currency equivalent), and must register with their real names.
What is the impact of large cash real-name registration on everyone? Can I still withdraw money normally?
Seeing that after March 2022, the deposit and withdrawal of cash reaches more than 50,000 yuan, and real-name registration must be carried out, and many friends may be worried that this will not affect their normal deposits and withdrawals.
In this first to give everyone a reassurance pill, the central bank introduced this policy, the fundamental purpose is to combat some money laundering and illegal and criminal activities, if everyone access to cash legal and reasonable will not have any impact, at most is just one more procedure.
The central bank implements the real-name registration of more than 50,000 yuan of cash deposited and withdrawn, which can further trace the flow of cash and play a great deterrent to those money laundering acts.
Once the deposit and withdrawal of cash exceeds 50,000 yuan, the need for real-name registration, those illegal and criminal gains do not dare to blatantly access cash through the bank to launder money, because when you fill in the information, the bank will match according to the information of the system, if you find that the information you fill in is not true, and your transaction habits and transaction history are very different, the bank will report the money to the central bank anti-money laundering center at any time, and the relevant accounts may be frozen at any time.
But if everyone's money is exchanged through their own efforts, legal and reasonable, there is no violation of laws and regulations, even if the registration has no impact on everyone, everyone deposits and withdrawals will proceed as usual.
But here you need to give you a reminder, we must fill in the real when filling in the use or source of cash deposits and withdrawals, do not play careful, check a false reason, in case the banking system finds that the content you check is very different from daily transactions and historical records, you may become the object of anti-money laundering attention.
In short, as long as everyone's income is legal and reasonable, and they fill in the real information when depositing and withdrawing cash, it will not have any impact.