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Currency Exchange Guide for Foreign Residents

Release time:2024-03-22    |    Number of views:

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Many expatriates in Shaanxi want to exchange currency, but they have no way to do it! When you first arrive, you don't know which banks can exchange currency, and you don't even understand the exchange process. Today, we take you to see how the Bank of China currency exchange →

In fact, foreign currency exchange is not limited to the Bank of China, but can also be carried out at many other banks, such as the Industrial and Commercial Bank of China, the Agricultural Bank of China and the Construction Bank of China. All of these banks offer foreign exchange services for a wide range of foreign currencies that are freely convertible internationally. It should be noted that the types and amounts of foreign currencies that may be offered may vary from bank to bank and branch to branch, so it is advisable to inquire and make an appointment in advance.

RMB Cash Payment

RMB cash services can be obtainedthrough the following four channels.

1、Bank outlets

Bank outlets displaying

“Currency Ex-change”signage can provide you with cur-rency exchange, RMB cash change, and exchange rate query services. A valid lD is oftenrequired.

2、Self-Service Machines(ATM, CRS, etc.)

You can withdraw RMB cash by insertingyour overseas bank cards in ATM, CRS andother self-service machines marked withlogos of the corresponding bank card organi-zations.

The upper limit of a single withdrawal isRMB 3,000, which is also subject to the limitof your bank cards.

3、Foreign Currency Exchange Agencies

You can exchange foreign currency cashfor RMB cash at foreign currency exchangeagencies, usually located at airport or hotels.Daily limit is the equivalent of RMB 10,000for each card holder, and annual cumula-tive limit is the equivalent of RMB 50,000.

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4、Self-service Currency Exchange Machines

You can exchange foreign currency cashfor RMB cash on a self-service currency ex-change machine with a valid lD. Daily limit isthe equivalent of RMB 5,000 for each cardholder.

Self-service currencyexchange machinesoffering digital yuan(e-CNY)services canalso provide top-up service for e-CNY "hardwallets".


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