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Q: Do Chinese banks get suspicious when you frequently deposit large amounts of cash?
In the West, you'd probably have the taxman on your doorstep after deposting a couple of thousand in cash every month. Is it the same here? How much is okay to deposit all at once and what frequency won't set off alarm bells?
12 years 23 weeks ago in Money & Banking - China
They have anti money laundering depts at every bank. They monitor by frequency, reoccurring deposits etc. They also look at country of origin of the account holder (known drug and money laundering countrys) getting a real close look and also what country the currency is from.
They are looking for real big deposits (for whats it worth I was told by a manager at the bank 1/2 - 1 million RMB at a time) then you start getting the eyeball. That leaves me out, Im nowhere near that.
The thing about the bank in China is thats its easy to get your money in, but a little more arduous to get it back out. They only let you physically carry 5000 USD or less through customs without going on record (filling out a form).
If they catch you bringing more in or out through customs without declaring it, its subject to confiscation. If you fill out the form you can bring in as much as you like through customs.
Also your country of origin may have its own laws with respect to worldwide taxation and at what level you have to declare a foreign bank account.
For the US the threshold is 10,000 USD.
Good luck with your large cash deposits. Thats a problem Id love to have. 
