Before studying abroad, you need to know some common sense, which can not only help you live better in a foreign country, but also save you some time.
Here are 11 things you must know before you study abroad.
In order to avoid the trouble of losing or leaving China, international students can buy traveler’s checks from the Bank of China after exchanging them, but the commission is relatively high.
International students can apply for credit cards from foreign banks and credit card institutions, such as AmericaExpress,Visa, etc.
However, due to the low income of Chinese residents, the approval process will be relatively strict.
However, due to its practicality, international students studying in the United States and Canada are advised to apply for one;
In addition, it can avoid the trouble of carrying cash.
There are similar institutions in Beijing, Shanghai, Guangzhou, Shenzhen and other big cities. Chinese banks have their own bank cards and credit cards. Most of them can withdraw money in various countries in the world, but bear relatively high commission fees.
4 What is China’s system China is a strict country.
Residents are not allowed to exchange foreign currencies from banks at will, except for the business needs of foreign trade and enterprises with foreign investment.
Those who need foreign exchange for studying, traveling or visiting relatives abroad may apply to the local people’s Bank.
5. Where Can I exchange foreign Exchange for overseas study? Residents who use foreign exchange for overseas study can apply to the local Administration of Foreign Exchange (the address is the same as the People’s Bank of China).
Then, with the approval of the State Administration of Foreign Exchange, they can exchange foreign currencies at the local Bank of China.
6. What are the specific procedures? First, bring your passport, entry notice, ID card and other documents to the local administration of Foreign Exchange to apply for foreign exchange approval;
Then, you can exchange foreign exchange at the Personal Business Department of the local Bank of China with the approval certificate of the FOREIGN exchange Administration of the Foreign Exchange Administration.
Normally, the same amount of RMB is deposited into a Bank of China account and then transferred to the Bank of China for foreign exchange.
The bank will inform you of the specific exchange application process.
7. How Much is the foreign exchange Quota Generally speaking, the People’s Bank of China approves 9,999 loans for studying abroad each year;
If the limit is exceeded, it shall be reported to the higher administrative authority for approval.
If not, it is common practice to apply annually or wait for approval from the superior bank.
8. How to Exchange Required Foreign exchange Residents of the country can freely exchange foreign exchange (freely convertible currencies, such as US dollars, marks, etc.) into other foreign currencies at the Bank of China.
According to Chinese regulations, ordinary residents are not allowed to carry more than US $1,000 in cash out of China.
The general practice is: when the People’s Bank of China applies for foreign exchange exchange, it specially requires the People’s Bank of China to issue a certificate for carrying foreign exchange out of China, indicating the currency and quantity, etc.
If the students have an account abroad, they can remit the foreign exchange to the domestic account, but they need to apply to the local People’s Bank for approval and obtain the certificate of remittance.
That way, international students can avoid all the hassle of taking cash out of the country, but they have to pay a fee.
11. Please pay special attention not to exchange foreign currency in the black market. First, the loss of the spread is large.
Second, it is difficult to distinguish the authenticity of the currency, easy to be cheated.
Canadian dollar falls on hold;
The new rules sent the pound to its lowest level in nearly a year.
Please pay attention to the specific operation, the market is changing rapidly, investment needs to be cautious, the operation strategy is for reference only.
