Top Foreign Currency Exchange Offices in China: How to exchange money in China
1. Bank of China (BOC)
Location: 1 FUXINGMEN NEI DAJIE,BEIJING,CHINA
- Beijing, Shanghai, Guangzhou, and other significant Chinese cities are only a few of the key cities where Bank of China has branches spread out around the country. In the majority of urban regions, you can readily locate a Bank of China branch.
- Bank of China provides competitive exchange rates. Rates can vary slightly between branches, so it’s a good idea to compare rates at different branches or check their official website for the most updated rates.
Location: China, Beijing, Xicheng District, Fuxingmen S St, 2
- ICBC serves both individual and business clients by offering a broad variety of financial services as a commercial bank. Personal banking, corporate banking, treasury management, investment banking, asset management, insurance, and other financial products are among the services it offers.
- ICBC maintains a sizable international presence with branches and representative offices in numerous nations around the world in addition to its extensive network of branches and subsidiaries throughout China.
3. Everbright Bank
Location: 17/F, China Overseas International Centre, No. 28 Ping An Li West Street, Xi Cheng District, Beijing, China
- Individual and business customers can choose from a wide variety of financial products and services offered by Everbright Bank. Personal banking, corporate banking, asset management, wealth management, investment banking, and treasury operations are among the services it offers. The bank serves a wide range of clients through a vast network of branches and subsidiaries throughout China.
- Additionally, Everbright Bank increased its global reach by opening branches and representative offices in a number of nations and areas, including Hong Kong, Macau, Singapore, London, New York, and others.
Location: Suite 603-604, Tower E2, No. 21, Lane 58, East Pan Zhong Road, Qingpu District, Shanghai, China PR
- An international provider of currency exchange and international payment services is Travelex. Its headquarters are in London, United Kingdom, and it was established in 1976. In addition to operating in more than 60 nations, Travelex is widely recognised in airports, financial hubs, and tourist attractions.
- In addition to other convenient places, Travelex runs currency exchange booths and kiosks in airports and retail malls. Customers can convert excess foreign cash back into their home currency or swap their local currency for the local currency of their destination.
5. China Merchants Bank (CMB)
Location: 49/F. China Merchants Bank Tower, No. 7088 Shennan Boulevard, Shenzhen, P.R.China, 518040
- Since its foundation, CMB has expanded substantially, becoming one of China’s biggest and most prestigious banks. It offers both private individuals and businesses a wide range of banking services, including personal and corporate banking, wealth management, asset management, investment banking, and treasury operations.
- Innovation and tech-driven solutions are highly valued by CMB. In order to improve client convenience and experience, it has been in the forefront of digital banking in China, introducing a variety of online and mobile banking services.
6. Shanghai Pudong Development Bank (SPD Bank)
Location: No.12, Zhongshan Dong Yi Road, Shanghai
- Individual and business customers can choose from a variety of financial services offered by SPD Bank. Personal banking, corporate banking, wealth management, asset management, investment banking, and treasury operations are among the services it offers. The bank serves its clients by operating through a network of branches and subsidiaries throughout China, providing their accessibility and convenience.
- The dedication of SPD Bank to innovation and digital transformation has been acknowledged. The bank has made investments in digital platforms and technology to increase client service, streamline operations, and provide creative financial solutions. To offer its customers easy and effective financial services, it has implemented mobile banking services, internet banking platforms, and other digital channels.
7. China Construction Bank (CCB)
Location: No. 25 Financial Street, Xicheng District, Beijing, PRC, 100033
- As a commercial bank, CCB has a huge network of branches and subsidiaries throughout China, guaranteeing that all of its clients may access it. Additionally, it has increased its global reach and now has branches and representative offices in several nations and areas, including Hong Kong, New York, London, Tokyo, Sydney, and others.
- By funding infrastructure projects, fostering domestic and international trade, and offering financial services to many economic sectors, the bank has contributed to China’s economic development.
How to exchange money in China
- Choose a reputable exchange provider: Look for well-established banks, authorized exchange outlets, or reputable foreign exchange companies. Banks such as Bank of China, Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB), and China Merchants Bank (CMB) are commonly used for currency exchange in China.
- Carry your passport: In China, it is typically required to present your passport when exchanging currency. Make sure to have your passport with you when visiting an exchange provider.
- Compare exchange rates: Check the exchange rates offered by different providers to get the best deal. Rates may vary, so it’s worth comparing before making a decision.
- Visit a bank or authorized exchange outlet: Go to a bank branch or authorized exchange outlet that offers currency exchange services. Look for signage indicating foreign exchange services or inquire with the staff.
- Complete the required forms: Fill out any necessary forms or provide the required information, including your passport details, the amount and type of currency you wish to exchange, and any additional details requested.
- Exchange your money: Hand over the currency you want to exchange and follow the instructions given by the exchange provider. They will calculate the amount you will receive in the desired currency and complete the transaction.
- Obtain a receipt: Make sure to collect a receipt or transaction slip for your records. This will serve as proof of the exchange and can be useful for any future needs or transactions.
- Consider any fees or charges: Be aware that there may be fees or charges associated with currency exchange, such as service fees or commissions. Clarify these details with the exchange provider beforehand to avoid any surprises.
- Verify the received amount: Upon receiving the exchanged currency, count it and ensure that the amount matches what was agreed upon. If there are any discrepancies, notify the staff immediately