Beijing Travel Forum

Has anyone recently came back from China that has problem exchanging US dollars to Chinese Yuan? My friends were in China in January and reported they had such a difficult time exchanging money at their hotel and banks. They had to take the taxi to the airport to exchange their US dollars to Yuan. I am just wondering if the drop in value of the dollar has anything to do with the exchange problem. I'll be leaving for China soon and I want to know rather I should change the dollar to another currency first or should I just do all my exchanges at the airport on arrival. I had never encounter this before and just want to know if anyone has any problem in exchanging money. Thanks so much in advance.

I haven't heard of this problem. But ATMs should work.

I doubt banks here refuse to change USD to RMB.
Were they trying at a smaller bank? Bank of China and Industrial and Commercial Bank of China (ICBC) are both reliable.
Were they trying to change at a smaller city, or even town?
Were they trying to change on a weekend?
It won't make sense to change your USD to another currency and then to RMB as you'll get hit twice by the exchange rate.

it shouldn't be too much of a problem to change money. You, of course, need a passport, and make sure the USD you give them is fairly new and without writing or markings on it. That can cause some problems. It's best to change at the airport, for the sake of ease, though you'll have to deal with the loss if you have to change it back. Carrying yuan can get thick (lots of bills)

If you use ATMs, make sure you go to ATMs that say Visa and Mastercard, for example, and not the UnionPay ATMs, which are for Chinese bank cards only, which you can't get unless you live here. Make sure to call your credit card company before you go to let them know you'll be traveling in China and any other places you're going. It's annoying enough to have to call them, so better to do it from home.

I hope that helps, John

I had no problems. The main thing is to have your passport with you when you convert at the bank.

I've always used my debit card at ATMs. The Bank of China ATM always works.

You should call your bank and let them know that you are going to China. Some banks may disable your card after they see foreign charges. This is for protection from fraud.

Also be aware, some US banks charge additional fees when their card is used for foreign exchange. Call your bank to find out if yours does.

Thanks everyone for your replies. I wouldn't think there should be any problem with exchanging money but was surprised when my friends told they had problem. They were in Guangzhou and I don't know what day they were making the exchanges or which bank(s) they used. I am thinking maybe it was a smaller bank and probably out of money due to being close to New Year??? I know when I was in China before, there are times we had to wait for our hotel to get more money because they ran out due to large number of ppl exchanging money. I'll just take my chances because I don't want to be stuck with a bunch of Yuans. Thanks for all the great advices.

I was just in China in February and had absolutely no difficulty. Of course, you do have to go to the right type of bank. The Bank of China will do fine. Many hotels and hostels have their exchange rate posted. They usually give something a little bit less than you will get at the bank. You want to avoid doing any more exchanges then absolutely necessary at the Beijing airport. The exchange desks there instead of being run by the Bank of China say they are agents of the bank and will charge almost $6 (USD)per exchange as a service fee. Ouch!

One more thing, many places will not accept worn bills so try to bring new bills. I have found this in many countries.