Chinese accounts in the United States were all closed to do so or were sentenced to group photos.

Never deposit or withdraw money like this in the United States

Suffered heavy punishment+imprisonment

Wu, a Chinese student studying in the United States, complained that in the past two months, her credit card was often swiped, and almost every week there was a stolen bill! She felt terrible, and quickly contacted the bank to report the stolen credit card. The bank told her that she would return the money first and verify it clearly. However, a few days ago, she received a letter from the bank asking her to withdraw all the money from her account in the near future. The bank decided to close all her accounts! This shocked Mr. Wu, who constantly reflected on what he had done wrong, which led the bank to show no mercy.

Wu, a flustered classmate, checked the Internet and found that the reason may not be the theft of her bank card, but her act of depositing at least 2, dollars into her account almost every three or four months, which attracted the attention of the bank! Wu said that she would go back to China every spring break, summer vacation and Christmas, and sometimes she would go to school during the summer vacation. She would also go back to China before and after the summer vacation, and every time she returned to the United States, she would bring cash and deposit it in a bank account, almost all of which was more than 2, dollars.

In fact, most international students and new immigrants who frequently travel between China and the United States will choose this way: bring large amounts of cash to the United States. First, it avoids the formalities and troubles of international cash transactions. Second, "It's not easy to go back to China, so bring more at once" is also the psychology of many Chinese. Anyway, it seems reasonable and reassuring to keep cash in their own accounts for daily consumption. But what is wrong with Wu's move? !

And the problem seems to be 2, yuan!

according to the federal law of the United States, if the deposit or withdrawal exceeds 1, dollars, you must submit a "currency transaction report" to the Ministry of Finance to avoid reporting, and you can be sentenced to imprisonment for up to 1 years!

Therefore, Wu's frequent large deposits and failure to report them will make the bank think that money laundering is suspected. This seems to be an important reason why the bank closed all his accounts.

Reasonable evasion was also sentenced

So just follow the rules and pay attention to the upper limit? But seemingly reasonable withdrawals are also sentenced!

a business owner in Missouri * * * made 18 withdrawals in five months, most of which were made for several days in a row or only a few days apart, and each withdrawal was less than $1,. He confessed to the bank staff that he deliberately withdrew no more than $1, to avoid filling out the currency transaction report. In the end, he was arrested on the charge of knowing the threshold of filling in the currency transaction report, but deliberately evading this declaration requirement, and faced up to 1 years in prison!

according to previous cases: withdraw money more than 3 times a week, and each time the amount exceeds 1 USD. In this case, your account will be easily targeted by the IRS!

There are risks in saving a huge sum of money

Withdrawals are strictly checked, so there is no one to take care of deposits in your account, right? But the U.S. Empire is still such a magical country:

An Asian-American shopkeeper in Illinois split a large amount of cash into several small deposits to avoid federal declaration. From 214 to 215, thousands of dollars in cash were deposited into the account of Bank of America every few days, and * * * was deposited 64 times, almost every time it was $3,, and the total amount was about $19,.

it's absolutely legal to deposit less than $1,, but it's illegal to deliberately deposit a large sum of money in order to avoid the supervision of the IRS! Waiting for him is a fine of nearly $35,, a six-month family imprisonment and a five-year suspended sentence.

The Bank Secrecy Act stipulates that if within 3 days, the bank suspects that the depositor intentionally deposits no more than USD 1, at a time, which may involve money laundering, tax evasion or other criminal activities, the bank must also file a Suspicious Activity Report with the IRS.

Pay attention to the word "suspicion" mentioned in the bill. If the IRS suspects it, they will take action. Once the property is confiscated, it is extremely expensive to get it back, so many people simply give it up. * * * often take the initiative to settle when they can't find more evidence, but it must be a conditional settlement. Because the cost of suing the federal government is too high, many people have to reluctantly accept it.

Since 27, more than 6 taxpayers have been confiscated as much as 43 million yuan for "split access". The phenomenon of "huge sum with zero deposit" is quite common among Chinese Americans, but it will be targeted if you are not careful. So we must pay attention to mastering the correct deposit skills!

Safe deposit method

1. Each deposit is less than 2 USD in cash, and the small deposit is not more than 4 times a month.

2. If there is more than $1, in legal cash to be deposited, tell the bank directly and deposit it after filing.

3. Try to deposit by cheque.

4. Go to the post office to buy a cash check Money Order, which can be divided into domestic cash checks and international cash checks. There is no expiration date, and you can reissue it if you lose it. The maximum denomination of cash checks in the United States is $1,, and each check is charged a fee of $1.6-$2; However, the maximum denomination of international checks is $7, and each check costs $4.75. You can send international checks to anyone in the world and cash them in the local bank.

never bring cash into the United States like this!

Confiscation in full or even sentencing

Apart from the "doorways" in deposit and withdrawal, some Chinese people may have violated the regulations when bringing cash into the country!

There is a saying in the Chinese circle that "many hands make light work". If one person can't do something, many people, Qi Xin, will work together to "pass the test" smoothly. Because of the regulations of the US Customs, it is necessary to report the cash brought into the customs with more than 1, US dollars. In order to avoid the trouble of declaration, Chinese people will think of splitting up large amounts of cash and letting their relatives and friends help them carry it across the border. This is not only "unworkable" when going through the customs, but the hard-earned cash may even be confiscated and confiscated.

Mr. Hong's family suffered the sad experience of "getting an American visa, but not going through American customs". In June, Mr. Hong came to the United States with his father, brother and his party, and three of them brought $3,. Knowing that you need to declare honestly when you enter the United States, when you fill out the declaration form on the plane, you did tick "Do you carry more than 1 thousand yuan?"

When asked about the amount of money brought by the officials when entering the customs, my father explained: "Three people brought an average of 1, yuan". However, when the customs officers searched the parcel, they found 3 thousand yuan, so they were finally labeled as "dishonest" and all 3 thousand yuan was confiscated.

many people will ask, why should the $3, be confiscated in full when the customs declaration form is filled out? ! Is there really an upper limit for carrying cash?

It turns out that this is a collision with a new policy officially announced by the CBP US Customs and Border Department recently: it is strictly forbidden to bring excess cash/checks into the country in pieces! This can also explain why Chinese people who enter the country together like Mr. Hong are liable to have their cash confiscated ~

What is the specific policy:

? There is no upper limit on the amount: there is no upper limit on the amount of cash/checks carried in/out of the United States

? Personal entry: You need to declare if you carry more than 1, US dollars in cash/check, and fill in FinCEN15 form

? Multi-person entry: multi-person entry in groups, and if the total amount of cash/check carried exceeds , it is required to declare and fill in FinCEN15 form

? Non-disassembling: In the case of multiple people entering the country together, it is not allowed to disassemble the cash/cheque to multiple people in the team to "reduce" the carrying amount and avoid reporting.

? Excessive confiscation: If the carrying amount exceeds without declaration, you may face full confiscation and even receive legal punishment.

In order to make everyone better understand, official website of Customs also gave an example:

If Xiao A and Xiao B enter the United States together, Xiao A carries and Xiao B carries . In the eyes of the customs, they have += (more than declaration line) to declare and fill in the FinCEN15 form.

To put it bluntly, the US Customs "only recognizes money, but not people". As long as it carries more than US$ 1,, it has to declare it, no matter how many people are involved in the US$ 1,, and no matter what the relationship between people in the same trade is, it just doesn't want people to take advantage of the fact that they need to declare more than US$ 1,. Seriously, prevent money laundering!

What are the things that are most easily overlooked when bringing cash into the country?

More than 11, US dollars should be declared, does it include 1, yuan?

according to the U.S. customs regulations, you must declare when you enter the customs if you carry more than 1, dollars in cash or bills with you. Then the question is, if it happens to be 1 thousand yuan, do you have to declare it? What about 9999 dollars?

I'm sorry, there is no explicit provision in the US Customs at present, and there is no similar case. However, customs officers may suspect that you are suspected of taking advantage of loopholes. In order to save worry, I suggest you report it.

2. Is it only for US dollars to carry more than 1, yuan?

According to the regulations of the US Customs, it is not only the US dollar that needs to be declared when carrying cash, but also the currency of any country that is converted into more than 1, US dollars:

According to the current exchange rate: 1, US dollars = 65,983 RMB

1, US dollars = 77,69 Hong Kong dollars

1, US dollars = 8,918 euros

So please remember to put your cash in your hand before entering the customs. In addition, when the customs officers check, they will calculate the total amount of US dollars and RMB (or other currencies). As long as the amount exceeds US$ 1,, all the money will be confiscated without declaration.

3. do you need to declare checks exceeding $1,?

U.S. customs will not only accept banknotes but not checks. Traveler's checks, cash checks and personal checks written by others, as well as negotiable securities, carried by people entering and leaving the United States must also be counted within $1,. If they exceed, they must be declared.

what should I do if I want to bring a large amount of cash into China?

1. Truthful declaration-guidance for filling in customs declaration forms

Step 1: Please select "Yes" in Item 13 of the US Customs declaration form

Step 2: Fill in FinCEN15 form

According to the US Customs regulations, if the total amount of cash or checks you carry exceeds (US dollars or equivalent foreign currency, or a combination of both), you are required by law to fill in Fincen form.

: fincen.gov/forms/files/fin15_cmir.pdf

2. I don't want to bother to declare, but what should I do if I want to bring a lot of cash?

a. domestic unionpay debit card → direct withdrawal

after you arrive in the United States, you can find an ATM with unionpay logo. Both Citigroup and China Trust can withdraw US dollars directly at the current exchange rate.

Advantages: It avoids the trouble of domestic exchange, and it is lower than the domestic exchange rate, which is more cost-effective.

Disadvantages: A certain handling fee is required, and different bank cards have different handling fees. Please consult the bank for details.

B. After you arrive in the United States, you need to open an account → transfer money

You need to bring your passport and a certificate that can prove your identity, either a domestic ID card or a driver's license.

Advantages: With American bank cards, you can spend money conveniently in more places. Because some places don't accept China UnionPay cards.

Disadvantages: The remitting bank will charge 3% international remittance fee, the telegram fee is 15 per transaction, and the receiving bank will also charge 1 dollars for receiving.

tip: you'd better cancel your account before you leave the United States, otherwise the small account will be charged a management fee, and if it is not used for more than half a year, the account will be frozen and the balance will not be recovered. If you buy insurance in the United States, the account should be kept to renew the premium.

C. Dual-currency credit card → cash withdrawal

Both dual-currency credit cards can withdraw cash, but the cross-border cash withdrawal fee is very expensive, so it is not an emergency, so it is unnecessary.

advantages: if you don't mention cash, the dual-currency card is the most convenient. No need to transfer money, exchange foreign exchange, domestic RMB, direct credit card consumption in the United States.

Never send money to the United States in this way

Prohibition on "Split Remittance" overseas

Since you have to declare a large amount of cash, you must have thought of remittance wisely, which greatly saves the trouble of declaration. But I still can't bear to tell you: remittance is not that simple!

Mr. Wang from Shanghai is going to come to the United States for investment immigration. Last week, he transferred RMB 33, to a relative's account. After the bank exchanged foreign exchange, the latter was told by the counter staff that it was not allowed to be remitted abroad. The reason was that "the money arrived in the account only a few days ago and had to be remitted immediately after the exchange. Obviously, it was exchanged on behalf of others."

The reason is that in January this year, the China Administration of Foreign Exchange issued a new "spin-off ban": the maximum amount of foreign exchange purchased by China citizens in China is 5, US dollars per person per year.

what if I need to remit more than 3, yuan? Is it OK to find six people to purchase foreign exchange and remit money separately? !

I didn't expect that the smarter foreign exchange bureau issued a ban on "splitting remittances" in January this year, which filled the "loophole" of multi-person foreign exchange purchase! There is also a "blacklist", and offenders will not be able to enjoy a two-year total of $1, in foreign exchange quota.

the "split remittance" defined by safe:

? Five or more different individuals, after purchasing foreign exchange on the same day, every other day or for several consecutive days, remit foreign exchange to the same person or institution abroad;

? Individuals withdraw nearly $1, worth of foreign currency cash from the same foreign exchange savings account for more than 5 times within 7 days;

? What should I do if the same person transfers the deposits in his foreign exchange savings account to more than five immediate family members, etc.

and needs a large amount of remittance urgently?

In order to cope with the decline of RMB, a large number of overseas students or people who need large overseas funds such as buying a house, emigrating or investing were injured by mistake. If you really need a lot of money, is there really nothing you can do? !

? One-time large remittance

SAFE is still reasonable. To purchase large amounts of foreign exchange, you need to bring your ID card and related materials to the bank. Simply put, if you pay college tuition, you will bring the school notice, and if you buy a house overseas, you will bring proof such as real estate license. For details, please refer to official website of the State Administration of Foreign Exchange:

Generally speaking, the purpose of setting this ceiling is to combat money laundering. If your money has a reasonable source and destination, and sufficient information is provided to prove it, you can ignore the "remittance ceiling of 5, yuan" ~!

? Multiple small remittances

If you want to avoid the trouble of providing materials, you can only choose multiple small remittances. Here, it should be noted that in China, how many people are needed to help with the remittance, and each person will remit 5, US dollars. Payees in the United States should also open more accounts in the United States to avoid large sums of money flowing into the same account, which will attract the attention of * * *. It is best to remit money directly from the account in China to the account of the payee in the United States. Don't remit money to other accounts in the United States first, and then transfer it to the account of the payee. <