Traditional Culture Encyclopedia - Travel guide - What's the difference between foreign currency cash and cash?

What's the difference between foreign currency cash and cash?

The differences between foreign exchange cash and cash include different definitions, different exchange rates, different values and different remittance methods.

1. Different definitions: cash refers to various payment vouchers expressed in foreign currency, which can be circulated and transferred in the international market and freely converted into other countries' currencies, including overseas remittances in daily life or cheques exchanged during travel. Spot exchange is a specific foreign currency brought in from abroad, including common Japanese yen and US dollar.

2. Different exchange rates: foreign exchange deposits of banks can be divided into cash and cash. Due to the different nature, the exchange rate is also different.

3. Different values: As the common currency of China, RMB does not need to pay extra fees. However, when foreign currency cash is used in China, it also includes the payment of packaging, transportation, insurance and other expenses, so it cannot be used as a common currency, and the cash is transferred in the form of books, which is not the same as the cash in the foreign exchange quotation published by the bank. Generally speaking, the purchase price of cash is lower than that of cash, so the price of cash and cash converted into RMB is also different.

4. Remittance methods are different: cash can be remitted directly, and you only need to pay remittance fee. However, if you want to remit cash abroad, you need to pay the difference between cash and remittance, that is, the difference between the buying price of cash and the buying price of cash in the bank quotation.

Can I withdraw cash in cash?

Cash accounts can be withdrawn, but there will be a transfer fee.

Cash exchange refers to various payment vouchers expressed in foreign currency, which can be circulated and transferred internationally and can be freely converted into other countries' currencies. Spot foreign exchange can also be understood as foreign exchange on the books, which belongs to foreign exchange held in bank accounts.