#Yancheng Headlines#Starting next month, new rules for deposits and withdrawals! More than 50,000 yuan to register! From March, new rules will be ushered in for cash deposits and withdrawals. Since March 1, 2022, the central bank and other three departments have issued

#Yancheng Headlines# Starting next month, new rules for deposits and withdrawals! More than 50,000 yuan to register!

From March, new rules will be ushered in for cash deposits and withdrawals.　

From 1 March 2022, the Administrative Measures for Customer Due Diligence and Customer Identity Information and Transaction Record Preservation of Financial Institutions issued by the Central Bank of China and other three departments will be formally implemented.

The Measures stipulate that commercial banks, rural cooperative banks, rural credit cooperatives, village and township banks and other financial institutions that handle cash deposits and withdrawals of more than RMB 50,000 yuan or the equivalent of more than 10,000 U.S. dollars in foreign currency for natural person customers shall identify and verify the identity of the customers, understand and register the source or use of funds.