A Hongkonger intending to buy property in Shenzhen thought of an ingenious way to avoid his bank’s 5 percent administrative charges – pay in cash!
So this 50-something-year-old man carried two paper bags filled with cash and was stopped by border officials. After investigation, officials found stacks and stacks of HK$1,000 notes totaling HK$5.5 million in the paper bags.
When the man was questioned why he was holding so much cash he said he was intending to buy property in Shenzhen and wanted to avoid paying the 5 percent bank charges, about HK$275,000. He thought it was a hefty sum so decided to pay everything in cash to save costs.
Unfortunately, it’s against the law, without prior approval to bring so much cash across the border. So border officials kept the cash at the bank and only allowed him to cross the border with HK$40,000.
If we were to travel with HK$5.5 million we’d at the very least put it in a proper bag, and maybe with a combination lock!
Source: Apple Daily
