SAT Caps Overseas Cash Withdrawals

SAT Caps Overseas Cash Withdrawals
The State Administration of Foreign Exchange (SAFE) has capped the total amount of overseas cash withdrawals from all domestic bank cards owned by one person at 100,000 yuan.

The notice, Huifa[2017] N.29, implemented as of 1st January of this year, also limits withdrawals to RMB 10,000 per card per day. If an individual exceeds the annual cap in a year, their overseas withdrawals will be suspended in that year and the following year.


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