What is the limit of overseas remittance?

Generally, it is USD 654.38+USD 082,500.

The maximum amount of foreign exchange purchased by domestic individuals with ID cards is 50,000 US dollars per year, and the maximum amount of foreign exchange remitted abroad is 50,000 US dollars per day. In other words, if the foreign currency in your foreign exchange account exceeds $50,000, you only need to remit no more than $50,000 every day. If there is a limit, it is 5x365 =18.25 million USD.

Generally, domestic cross-border transfer to foreign countries can choose remittance.

T/T refers to the bank's direct remittance of money to the bank account provided by the parties through the network system, which usually arrives in three or four working days. A bill of exchange is a foreign currency bill issued by a bank and entrusted by an overseas bank for collection. Generally, the remitter will choose this remittance method when he doesn't know the overseas payee's account and needs to pay foreign currency funds to the payee.

There is no cable fee for remittance, and other charging items and standards are the same as telegraphic transfer. Although the cost of remittance is relatively cheap, it is not as fast as telegraphic transfer, and remittance needs to go to the foreign outlets of the billing bank or the designated collection bank of the billing bank to understand the payment procedures.

T/T refers to the bank's direct remittance of money to the bank account provided by the parties through the network system, which usually arrives in three or four working days. A bill of exchange is a foreign currency bill issued by a bank and entrusted by an overseas bank for collection. Generally, the remitter will choose this remittance method when he doesn't know the overseas payee's account and needs to pay foreign currency funds to the payee.

Precautions for overseas remittance:

1. The salary in the payee's bank account should be consistent with the remittance purpose. The remitter's remittance purpose should be accurate. For example, write clearly that the purpose is to study abroad. The payee cannot be an investment company, securities company, gold exchange, futures exchange, insurance company, etc.

2. The remittance of service trade currently allowed by SAFE does not contain currency. In order to ensure that the remittance is heavy, the customer needs to provide detailed and accurate addresses of the remitter and the payee when remitting, and must go to the house number in detail.

References:

Bank remittance in China