The annual limit of 100,000 RMB for cash withdrawals abroad applies to all cards under your name combined

6. The annual limit of 100,000 RMB for cash withdrawals abroad applies to all cards under your name combined

Cost: There is no direct cost. Estimate how much cash you’ll need before you travel, then rely on card payments for the rest. The real challenge is breaking the habit of withdrawing cash whenever possible.

In plain terms: The annual cash withdrawal limit of 100,000 RMB for overseas use applies to all bank cards registered under your name, including supplementary cards. This limit resets on January 1 each calendar year. Once you reach it, you cannot make any more overseas cash withdrawals for the remainder of that year or in the following year. Note that this restriction only affects cash withdrawals; regular card purchases remain unaffected, and it does not count against your annual foreign exchange quota of $50,000.

Benefit: This rule is set out in the Notice on Regulating Large-Scale Cash Withdrawals via Bank Cards Abroad issued by the State Administration of Foreign Exchange (SAFE, Document No. 29 [2017], effective January 1, 2018). Key provisions include: (1) The combined annual cash withdrawal limit for all cards under a person’s name is 100,000 RMB; exceeding this limit results in a suspension of overseas cash withdrawal rights for both the current and next calendar years. It is also prohibited to bypass this rule by using someone else’s card or lending one’s own card to others. (2) SAFE provides a list of affected individuals to issuing banks daily, which must then block all overseas cash withdrawals for those customers by 5 PM Beijing time on the same day. (3) Affected individuals can request a full breakdown of their overseas cash withdrawal history by presenting valid ID at local SAFE branches. (4) The daily withdrawal limit for foreign currency cards is raised from $1,000 to 10,000 RMB equivalent, while the same daily limit for RMB cards remains at 10,000 RMB equivalent. (5) Violations of these rules are subject to penalties under the Foreign Exchange Administration Regulations of the People’s Republic of China. SAFE also clarifies that this notice does not restrict regular overseas spending on travel, business, or education, which can all be paid for via card without using the annual $50,000 foreign exchange quota. To ensure smooth transactions, SAFE uses delayed control mechanisms rather than immediate blocking of transactions. Statistics show that 81% of domestic cardholders withdrew less than 30,000 RMB abroad in 2016.

Evidence grade: A

Sources: State Administration of Foreign Exchange (2017). Notice on regulating overseas large-amount cash withdrawal transactions with bank cards (Huifa [2017] No. 29, Articles 1, 2, 3, 4, 6 and 7, effective from January 1, 2018). <https://www.safe.gov.cn/safe/2017/1230/21873.html>; State Administration of Foreign Exchange (2017). Relevant person in charge of the State Administration of Foreign Exchange answered reporters’ questions on issues related to regulating large overseas cash withdrawal transactions using bank cards. <https://www.gov.cn/zhengce/2017-12/31/content_5251958.htm>; China UnionPay International. Overseas ATM withdrawals. <https://m.unionpayintl.com/wap/cn/serviceCenter/cardUsingInstructions/805.shtml>

Notes: The annual limit resets on January 1 each year. As mentioned, only cash withdrawals are restricted; regular card purchases are unaffected. If you absolutely need to carry large amounts of cash overseas, you must first apply for foreign exchange under the Individual Foreign Exchange Management Measures before taking the cash out. Two additional caveats apply to cash withdrawals: (1) For dual-brand cards, some ATMs in certain countries do not offer a UnionPay withdrawal option. (2) Some overseas ATMs display extra surcharge fees, which are charged by local acquirers and have no relation to UnionPay. UnionPay also advises that credit card cash withdrawals incur interest charges, so using a UnionPay debit card is preferable for overseas withdrawals. For guidance on what to do if your card is lost, swallowed by an ATM, or fraudulently used, refer to Section 14, Item 5.