How much does a bank charge to convert RMB to US Dollars?- eChinacities Answers

Welcome to eChinacities Answers! Please or register if you wish to join conversations or ask questions relating to life in China. For help, click here.

[ Latest Answers ] [ Latest Questions ] [ Most Answered ] [ Need Answers ]

Verify email

Your verification code has been sent to:

Didn`t receive your code? Resend code

By continuing you agree to eChinacities's Privacy Policy .

vman111

Posts: 35

Governor

Q: How much does a bank charge to convert RMB to US Dollars?

If I want to convert lets say 1k, 20k, or 50k RMB to US Dollars what does the bank charge. Also, do i need a passport or anything to do this at a bank? I don't have any bank accounts in China at the moment.

11 years 36 weeks ago in Money & Banking - China

Report Abuse Email this post

Answers (3)

Comments (0)

cooter

Posts: 1547

Emperor

Add Comment

I'm not sure a bank will do this for you if you don't have an account with them...in which case, perhaps better to ask a Chinese friend to help you (use their bank). Plus, the Chinese friend will not be as limited in the maximum amount of USD they can withdraw. Chinese nationals have a yearly limit of 50,000 USD they can exchange, whereas Foreigners are limited to 500 USD per day (so I'm told...never tried without a Chinese friend).

But, when I convert RMB from my own Chinese bank account into USD, there is no fee. (China Construction Bank)

Report Abuse

11 years 36 weeks ago

CharlieB

Posts: 448

Shifu

Add Comment

The exchange rates are set by the government. There should be no charge at the bank. Hotels are another story

Report Abuse

11 years 36 weeks ago

diverdude1

Posts: 4495

Emperor

Add Comment

It can be a bleedin' hassle in the Mainland..

In HK it is the definition of easy, and u can shop around for a rate..

Check here first-

www.xe.com

Report Abuse

11 years 36 weeks ago

Know the answer ?

Please or register to post answer.

Answer of the DayMORE >>

Q: When do you need to get a medical examination?

A: Your potential employer is right! Demand for Medical exam before

A:Your potential employer is right! Demand for Medical exam before granting Z visa is to make sure, you won't be entering China in any abnormal and harmful to others condition.Few days after your arrival to China, you'll be required to complete another ME ... If ME in China will be OK, you'll get a Residence permit stamp into your book some 10-days afterwards. Imagine, you're an employer, who can sponsor my entry and work in China, but after my arrival to China would be found I carry some sickness, which would prevent Chinese .gov to issue a Residence permit. Rule is: Z visa should be converted into Residence permit in 30-days after entry to China. So, my advice is:"Complete ME in your home country and forward medical results to your employer".Z visa grant will follow shortly afterwards. Employer is not wrong at their demand for the pre-arrival ME from your home country hospital. -- icnif77