Bank deposits and withdrawals usher in new changes, effective from March 1, how will it affect people?

2022-06-19 0 By

For ordinary people, the bank is very important, it not only plays the role of saving money but also can help people manage their finances.Depositing or withdrawing money is a very routine thing in our life.In the past, we had full freedom to make deposits and withdrawals in the bank, on a voluntary basis.But starting from March 1 this year, there will be new changes in deposits and withdrawals. What will happen to the common people?In the past, we didn’t have too many requirements on a deposit or withdrawal. For a time deposit, the withdrawal could be made at a specified time. For a demand deposit, the withdrawal could be made at any time without limit.And we can not only go to the bank to withdraw money directly through the bank card, but also through other payment platforms to convert it into digital currency, such as wechat, Alipay.The People’s Bank of China (PBOC), the China Securities Regulatory Commission (CSRC) and the China Banking and Insurance Regulatory Commission (CBRC) have jointly issued new rules that require a single deposit or withdrawal of more than 50,000 yuan, or a foreign currency equivalent of 10,000 U.S. dollars, to verify the identity of the customer to see if they are the same as the cardholder.In addition, the source and purpose of the money should be registered.The regulation came into effect on March 1 this year.To put it simply, if a customer deposits more than 50,000 yuan at a time, the bank staff will ask you where the money came from.When you withdraw more than 50,000 yuan, you will be asked what to use, and also to verify identity.When the bank asks you these questions, you do not need to be too alarmed, the bank is only to improve the security and reliability of deposits and withdrawals, as long as the answer is true.Relative to the past, the procedures are a little more, but the time needed is not too long.In fact, the new rule will have no effect on most people, except that it may take a few minutes to make deposits or withdrawals.And now is the era of digital currency, wages are directly sent to the bank card, all kinds of consumption can also be solved through the network channel, there is no need to withdraw a large amount of cash, so the impact is less.Nowadays, the people who use cash more frequently are mainly middle-aged and elderly people, because they are relatively less good at using online platforms to realize currency transactions.But under normal circumstances, most of the elderly will not deposit or withdraw so much money at one time, occasionally there is an urgent need may withdraw a higher amount, but this situation is less.But when we deposit or withdraw money and the amount exceeds 50,000 yuan, the bank will deal with it according to two different situations.The first kind is oneself take money to the spot personally, want to offer identity certificate only or it is register this to verify the identity information of the individual to the staff member.After confirming that it is in person, the bank will register.If not oneself deposit or withdraw money, namely help others agent, the procedure will be relatively more troublesome.The bank card holder shall issue a power of attorney in accordance with the relevant regulations to the agent, proving that he/she entrusts the other party to make the deposit or withdrawal, and handle the withdrawal with the identity certificates of the head of the bank card and the agent.This can well avoid the risk of high capital deposits and withdrawals, but also better protect the rights and interests of both parties.The second is to verify the source of the money, as long as you got it from a legitimate source, such as a job, investment income or a gift from a relative.In some cases, consumers may be required to produce a record of the flow, as long as it is reasonable and legal.And in the withdrawal of money, people will inevitably have urgent money, when you withdraw more than 50,000 yuan when the bank also want to verify the purpose.Such as medical treatment, car purchase, house purchase, etc., which cost a lot of money, it is reasonable to spend money on these aspects.However, if you cannot explain clearly the situation of their deposits and withdrawals, the bank will not help you so quickly to realize the deposits and withdrawals, through the investigation of no problem can continue to handle the procedures.Three, the use of new bank rules some people will ask, since the new rules are not usually useful to everyone, but also increased some procedures, why the introduction of this new provisions?In fact, this method largely inhibits the fraudsters from committing fraud.And better protect the interests of vulnerable groups, such as the elderly.Because the elderly are generally poor preparedness, and do not understand many fraud means in the society, some lawbreakers through a variety of ways to the elderly fraud.After being tricked into using their bank cards and pin numbers, the elderly were only aware that money was stolen from their cards.While the new rules won’t completely eliminate fraud, they could deter some criminals, reduce the risk of people losing their money and make it safer.This is also good news for children, not only reassuring their parents, but also making their money, which for many is hard-earned money, safer.Another benefit is that money laundering in some industries or enterprises can be greatly reduced.Money laundering mainly refers to the interests obtained through illegal activities, and then through various means to cover up the way of obtaining money, so that these illegally obtained money looks legal.Most of the money laundering activities are related to economic crimes, drug transactions or some major crimes.However, money laundering is mostly in cash, because transactions through banks or other platforms will have running water. If the running water is too large and the source is unknown, it will inevitably attract the attention of regulatory authorities.And with more and more measures issued by the regulatory bureau in recent years, the money laundering behavior of these criminals is also largely restricted.In addition, it is now required to go through a series of procedures for a single deposit or withdrawal of more than 50,000 yuan, so the money in the hands of lawbreakers can not be stored in the bank, and then can not be spent, which greatly restricts transactions.I believe this rule will also be a big headache for them, which also serves the purpose of the regulator.In the future, there will be more relevant regulations to better deter criminals from committing crimes.Some people will think, if you handle more than 50,000 yuan of deposits and withdrawals, will it be more convenient to handle them separately?In fact, there is no need, it will waste your time and energy even more.As mentioned above, as long as the money is obtained legally or used wisely, the procedure is simple and not so troublesome as expected.Conclusion Generally speaking, this new change on bank deposits and withdrawals has not had much effect on ordinary people.Relevant departments just want to better curb the criminal behavior of lawbreakers in this way, to better protect the security of people’s money, but also to better maintain the stability of the financial industry.To fight against illegal and criminal acts, we are imperative!Do you think the new changes in bank deposits and withdrawals affect you?Leave a comment in the comments section.