Currency Exchange Options
1. Airport Exchange Counters
After arriving in China, the most convenient place to exchange currency is at the foreign currency exchange counters in airports. Almost all international airports and major domestic airports have exchange services, but the exchange rates are usually not the most favorable.
- Advantages: Convenient, long business hours, no prior reservation needed
- Disadvantages: Rates usually lower than banks, may charge higher service fees
- Suggestion: Only exchange a small amount of RMB sufficient for transportation expenses, then exchange more at banks for better rates later
2. Bank Exchange
Major banks in China such as Bank of China, Industrial and Commercial Bank of China, China Construction Bank, etc. all provide foreign currency exchange services with rates usually more favorable than airports.
- Recommended Bank: Bank of China offers the most comprehensive foreign currency services
- Business Hours: Usually 9:00-17:00 on weekdays, some banks also open on weekends
- Required Documents: Original passport and photocopy
- Notes: Some banks may require advance reservation for large amount exchanges
3. Hotel Exchange Services
Many upscale hotels also offer currency exchange services, but the rates are usually not as favorable as banks.
- Advantages: Convenient, especially for travelers arriving at night
- Disadvantages: Less favorable rates, higher service fees
- Suggestion: Only use in emergency situations
Important Notice
Avoid exchanging currency on the street or at unauthorized places, as these locations may involve fraud or counterfeit money risks. Always choose officially recognized exchange counters or banks for currency exchange.
ATM Usage Guide
1. Finding International ATMs
In major cities and tourist hotspots in China, most bank ATMs support international credit and debit cards. ATMs with "UnionPay", "VISA", "Mastercard" and other logos usually support international cards.
- Major Banks: Bank of China, Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China have the highest ATM coverage
- Locations: Airports, commercial areas, large shopping malls, and near tourist attractions usually have more international ATMs
- Language Options: Most ATMs support English interface, some support more languages
2. Usage Steps
Basic steps for withdrawing money from Chinese ATMs using international cards:
- Insert your international card
- Select interface language (English option is usually available)
- Enter your PIN
- Select "Withdrawal" option
- Select or enter withdrawal amount
- Confirm transaction information
- Wait for cash dispensing
- Retrieve your card and receipt
3. Fees and Limits
Using international cards to withdraw money from Chinese ATMs usually incurs multiple fees:
- Issuing Bank Fee: Your bank may charge an overseas withdrawal fee, usually 1%-3% of the withdrawal amount
- ATM Operator Fee: Some Chinese ATMs may charge an additional fee
- Currency Conversion Fee: If your card doesn't directly settle in RMB, a 1%-2% currency conversion fee may apply
- Daily Limit: Chinese ATMs usually have limits on daily withdrawal amounts for international cards, generally 10,000-20,000 yuan RMB
Money Saving Tips
To reduce fee expenses, it's recommended to withdraw a larger amount at once rather than multiple small withdrawals. Consult your bank before departure to understand the specific fee structure for international withdrawals, as some banks offer cards with no overseas withdrawal fees.
Safety Tips
- Protect Personal Information: Shield your password when operating ATMs to prevent others from peeping
- Use Secure ATMs: Prioritize ATMs located inside bank branches or with surveillance, avoid using machines in secluded locations
- Save Transaction Receipts: Keep all ATM receipts until you confirm the transaction has been correctly recorded in your account
- Be Aware of Surroundings: Be vigilant of possible scams, such as "helpful strangers" offering assistance
- Card Swallowing Handling: If your card is swallowed by an ATM, immediately contact bank customer service
Practical Advice
- Mixed Payment Strategy: It's recommended to carry an appropriate amount of cash while also preparing international credit cards and debit cards that support overseas payments
- Exchange Timing: Monitor exchange rate fluctuations and choose to exchange when rates are favorable
- Small Denominations: Ensure you carry a certain amount of small denomination RMB (10 yuan, 20 yuan) for convenient small payments
- Electronic Payment Supplement: Consider setting up Alipay or WeChat Pay as supplementary payment methods
- Keep Exchange Receipts: Keep all currency exchange receipts, as they may be required when leaving some countries
- Understand Exchange Rates: Learn the approximate exchange rates in advance to avoid unfair exchanges
