Osher Itzhaki

hello i fly soon to china with 5400$ and limit is 5000$ and i will declare the question is what they will do with my 400$

moondog

So your plan is to walk over the red channel, and tell the customs people you want to declare $400?

Osher Itzhaki

My plan is to tell them i have 5400$ For school and 500cny for spends i have invite letter also the question is if they will take the 400$ or i should be fine

Scifience

Why don't you just withdrawal the cash using an ATM after arrival?

Osher Itzhaki

Because its alot money and alot tax at ATM china and they asked for usd cash and there is only cny atm so i rather to take it from my country bank atm no tax the problem is i took 5400$ before i knew only 5000 allowed so again my question if i declare they just let me go or seize my 400$

anacapamalibu

If you don't intend to take the currency out of China, looks like
its not subject to declaring.

I doubt China has much if any restrictions about bringing money into the country.:


Outward has no provision regarding exclusion of declaration, only inward.

Inward passengers
Passengers carrying foreign currencies in cash worth more than US$5,000 and intending to take the currencies out of China in the future shall fill out two declaration forms.

http://english.customs.gov.cn/Static...dbb565e4f.html

jiejie

This is a no brainer. Your plan should be to do nothing except guard your cash, close your mouth, collect your bags, and walk out the Customs exit. The Chinese aren't going to be looking to hassle you and won't be an issue.

However, with a cash amount this large, you should reconsider carrying it and plan an alternative. The most logical way is a bank transfer, which may come with a fee, but is safer. I can't imagine a Chinese university that cannot take a bank transfer. If your country or situation is such that this isn't an option, then the best way to carry this much cash is to minimize the number of notes you have. If you can arrange to get Euro 500 notes, 10 of them will cover your needs. 10 notes can be placed in a money pouch worn underneath your clothing, so you and cash are always together during the travels. Euro notes would be as easy to exchange for Chinese RMB as USD--then you'd just have to guard the stack of RMB until it's handed over. The bank will want to see your passport and likely your invite letter for an amount this large, particularly if you have no account with them. The school's bank would be a logically place to exchange and perhaps place the cash directly in their account, but best to have a school official with you and under no circumstances hand over anything without a signed, chopped receipt.

If your school is insisting specifically on USD and that they want to get USD currency in hand rather than RMB, I would think something dodgy is going on.

Osher Itzhaki

The school accept rmb but still i need over 20000 which is the limit so it doesnt metter i rather usd much less to carry. Dont worry i will take care to my cash i just need an answer if i declare 5400$ they will hold me or seize my 400$ or let me go

moondog

No. They aren't going to mess with you over $400. But, seriously, why don't you just wire them (or yourself) the money? Pulling out USD is no problem if you send USD.

Osher Itzhaki

Because in my country we use nis and to transfer to usd cost alot tax since its big amount so i lose money doesn't worth at all

satman40

Have the school give you the name of Someone in this country, and send them a check for $400.00. problem solved..

Many schools have representives in this country,

Never have been checked going into China..they could care less.

'We have a bank account in China,

mcjava

Have you come to China now??

I just saw your question.

I have never ever been questioned about how much cash I have when entering China. Actually, there is not even a Customs form to fill out, unlike the US. So you are not writing on a form that you only have 4000, or 5000..... which would then mean you lied.

Just bring it with you, and don't carry a ton of bags that make it look like you are smuggling things. That is about only time someone might inspect your bags.

DaileyB

I have twist on this question. My two children (girl 11 & boy 15) have inherited approximately $3,700 each from their Chinese grandmother in Wuhan. Last summer their aunt asked if I wanted to take the cash back. I was afraid of dealing with $7,500 so I declined. Are children allowed to take this much cash back to the US?

I should mention there are weird logistics here in that my children spend 6 weeks in Wuhan with their aunt and uncle and return by themselves through the airline's unaccompanied minor program. Also, apparently the money is in some kind of certificate of deposit where they only have a week or so window to withdraw the money -- otherwise, it is reinvested in something I am thinking is like a CD. Depending on the timing and the circumstance, I am thinking that maybe myself and my son (very mature) could each take $3,700 back at the appropriate time.

cxfan1960

I don't know whether there is any difference between adults and children, but is the money in RMB? The limit is RMB20000 (I don't know if the amount is different for children).

My suggestions:
* Unless your children are going to be there anyway, it doesn't worth it as it will cost you money just to get them there and back.
* During the window of withdrawal, move the money to another account regardless of whether your kids are there or ready to take the money. However, note that you may lose interest if the money sits in the bank for another year.
* Bring less money into China and withdraw some money anyway. They will use some in China and can always bring some back. You don't need to bring all back at once. You can leave some there for their next trip.

jiejie

Yes, there are Chinese versions of CD's. I assume the grandmother's money is in RMB instrument not USD. There is of course no point in bringing RMB back to the U.S. except as a last resort, to sit on until the next trip, or trade with a frequent traveler Chinese-American in the USA for dollars at a negotiated exchange rate close to full value. In China, the conversion process to USD by a foreigner does require their passports and I'm not sure if it will be allowed if they are minors. There's also going to be a limit on what can be exchanged back per day ($500 or $1000 at some major airports). Chinese citizens can get much larger amounts converted to foreign currency so it would be easier if the relatives did the conversion, if you wanted to bring the funds back to the USA. I personally wouldn't want to saddle a minor--even a mature one--with the responsibility of carrying that much currency back.

The most logical way to deal with this is is for you to set up a local account in your name (with ATM/Union Pay card access), deposit the cash in it, then access it during the annual trips to China for spending there. You can give the card(s) to your son to use. I am not sure if Chinese banks will set up an operating account for a minor though I'm willing to be corrected on this. This would require you to physically be in China. One of the relatives could also set up the account in their name and then give your son the card, but that is short of total control and requires some trust. Note: Union Pay is increasingly accepted in the USA at point-of-sale terminals, so paying for things in the USA with the Chinese account is absolutely possible now. This would make physical transfer of the cash by your son irrelevant.