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Personal Exchange Settlement and Sale

Date: 2016-04-16

1. Business overview

Individuals who needs to exchange the savings,cash and inward remittance in foreign currenciesinto RMB can handle the individual settlement at PSBC.

2. Business features

(1) Nationwide service outlets and handy personal online banking

(2) Multiple exchange settlement services, including settlement of foreign exchange cash, settlement of foreign exchange in account and settlement of overseas inward remittance

(3) Getting bonus points by hanlding the business with Foreign Exchange Express Card.

3. Policies guide

Settlement of foreign exchange by domestic and overseas individuals is subject to the annual total amount, and the annual total amount shall be the equivalent of USD50,000 (inclusive) for each person every year. As for the individual settlement of foreign exchange within the annual total amount, individuals can handle it at the Bank by holding their valid identity certificates. As for that beyond the quota under the current account, individuals shall provide relevant evidential materials.

Domestic individuals who handle the settlement of foreign exchange with an amount exceeding the annual total amount shall provide the following evidential materials:

(1) For donation: the notarized donation contract or agreement. The donation must conformwith relevant provisions of the State;

(2) For family maintenance: certificate on linear relative relationship or notarized certificate on support relationship and relevant certificates on the income of the overseas payer, such as the certificate on bank deposit and tax certificate for individual income, etc.;

(3) For income from legacy inheritance: legal instrument or notarization on inheritance;

(4) For income from foreign exchange insurance: insurance contract and the payment certificate of the insurance institution. The application of foreign exchange insurance must conform to relevant provisions of the State;

(5) For income from patent right and license fees for exclusive rights: payment certificate, agreement or contract;

(6) For income from legal, accounting, consulting and public relation services: payment certificate, agreement or contract;

(7) For compensation of employees: employment contract and income certificate;

(8) For income from overseas investment:registration certificate of overseas investment, profit distribution resolution or dividend payment letter or other income certificates; or

(9) For others: relevant certificates and payment certificates.

Overseas individuals who handle the settlement of foreign exchange with an amount exceeding the annual total amount shall provide the following evidential materials:

(1) For expense on house rent: the leasing contract registered at the house management department, invoice or payment notice;

(2) For expense on living consumption: relevant contracts or invoices;

(3) For expense on medical care and education: charging certificates of domestic hospitals (schools); or

(4) For others: relevant certificates and payment certificates.

(ii) Individual purchase of foreign exchange

1. Business overview

Individuals who needs to make the overseas remittance, travel abroad, study broad, visit relative and business travel at abroad, etc. can purchase the foreign exchange at PSBC  and exchange RMB into foreign currencies.

2. Business features

(1) Nationwide service outlets and handy personal online banking

(2) Handling overseas remittance, depositing to foreign-currency account and cashing  foreign currency after purchasing the foreign exchange

(3) Getting bonus points in case of handling the business by hanlding the business with Foreign Exchange Express Card.3. Policies guide

Domestic individuals:

Purchase of foreign exchange by domestic individuals is subject to the annual total amount, and the annual total amount shall be the equivalent of USD50,000 (inclusive) for each person every year. As for the individual purchase of foreign exchange within the annual total amount, individuals can handle it at the Bank by holding their valid identity certificate. As for that beyond the quota under the current account, individuals shall provide the following evidential materials:

1. For tuition fees and living costs of studying abroad at one's own expense: private passport and valid visa (or endorsement), admission letter from the overseas school (no need to provide if it’s used for paying tuition fees and living costs for the second academic year/term and later on), and tuition fees or living costs certificate of an academic year or term of the overseas school;

2. For guarantee money of studying abroad at one's own expense:private passport , admission letter from the overseas school (no need to provide if it’s used for paying tuition fees and living costs for the second academic year/term and later on), and tuition fees and/or living costs certificate of the overseas school;

3. For overseas traveling: private passport and valid visa for (any individual holding the group visa can submit the copy of group visa with the stamp of the travel agency), identity certificate or household booklet;

4. For medical service at abroad: private passport and valid visa (or endorsement), certification issued by a domestic hospital with medical advice and costs certificate issued by the overseas hospital;

5. For overseas training: private passport and valid visa (or endorsement) , and certification on overseas training costs;

6. For paying membership fees to overseas international organizations: identification certificate and payment notice from overseas international organizations;

7. For relieving overseas direct relatives:identification certificate, certificate ofrelative relationship and relevant evidential materials issued by relevant department or notary organization;

8. For overseas mail order: identification certificate,, advertisements, orders and other charges certificates;

9. For overseas consulting: written application, identification certificate, contracts (agreements), invoices (payment notices) and tax payment certificates;

10. For other service trade fees: written application, identification certificate, contracts (agreements), invoices (payment notices) and tax payment certificates;

11. For merchandise trade and related fees: written application, identification certificate, customs declaration for goods import, contracts (agreements) and invoices (payment notices); or

12. Other additional foreign exchange for overseas consumption without credit card: written application, identification certificate , materials proving overseas consumption or spending.

Overseas individuals:

Overseas individuals are not subject to the annual limit of purchase of foreign exchange. They can buy foreign exchange for legal income earned in china under the current account, valid certificate on personal identity and relevant evidential materials for transaction amount (including tax certificate) are required. Evidential materials include: contract on employment in domestic company, income details and tax certificate, etc.

Re-exchange RMB into foreign currencies: overseas individuals can exchange their unused RMB into foreign currency . If the accumulative exchange amount of exchange on the same day does not exceed the equivalent of USD500 (inclusive), or if the accumulative exchange amount of exchange at places outside the domestic customs territory during the same day prior to their leaving China does not exceed the equivalent of USD1,000, they may handle the exchange by hold their valid identity certificate. In case of exceeding the aforesaid amount, original exchange slip (like original exchange voucher or ATM cash withdrawal slip) shall be provided. The effective period for re-exchange of original exchange slip shall be 24 months upon the date of conversion.