Foreign Exchange and Cash in China
Foreign Exchange and Cash in China
Mobile payment (Alipay / WeChat Pay) covers the overwhelming majority of daily spending in China, but cash remains essential for street vendors, small taxis, rural areas, and as a backup. This page covers ATM access, currency exchange, and cash handling.
How much cash should I carry in China?
Recommended on hand at all times: ¥200–500 in small bills (¥10, ¥20, ¥50 denominations).
This covers: street food and market stalls, older taxis without working QR placards, small-town transit, and emergencies when mobile payment fails. Larger cities (Beijing, Shanghai, Guangzhou, Shenzhen) rarely require it; smaller cities and rural areas depend on it more.
How do I withdraw cash from ATMs in China?
Which Banks to Use
Not all ATMs in China accept foreign cards. Look for the Visa, Mastercard, or UnionPay logo on the machine. The most reliable banks for foreign cards:
| Bank | Coverage | Notes |
|---|---|---|
| Bank of China (中国银行) | Nationwide, all major cities and tourist sites | Most consistently reliable for Visa and Mastercard; English ATM UI |
| ICBC (工商银行) | Largest ATM network in China | Widely accepts foreign cards; good airport and city coverage |
| China Construction Bank (建设银行) | Strong urban coverage | Generally reliable for Visa/Mastercard |
| HSBC / Citibank branches | Major cities only | Lowest fees for cardholders of those banks |
Avoid: small rural bank ATMs and convenience-store ATMs — foreign card acceptance is unreliable.
Fees and Limits
| Item | Typical figure | Notes |
|---|---|---|
| Chinese bank ATM fee | ¥20–30 per transaction (source: YouTrip 2026 ATM guide; varies by bank) | Charged by the Chinese bank regardless of your card issuer |
| Your home bank fee | 1–3% + flat fee | Set by your bank; varies widely — check before travel |
| Per-transaction limit | ¥2,500–5,000 (source: YouTrip 2026 ATM guide) | Varies by machine and bank |
| Daily withdrawal limit | ¥20,000 (source: YouTrip 2026 ATM guide) | Across all ATM transactions in one day; your home bank may impose a lower limit |
Strategy: withdraw larger amounts less frequently to minimise per-transaction fees. ¥2,000–3,000 at a time is practical for most short trips.
ATM Practical Tips
- Use ATMs inside bank branches during business hours where possible — lower skimming risk and staff available if the card is retained.
- If the ATM retains your card, go directly to the bank counter immediately — retained foreign cards are typically held for 3–7 business days before being destroyed or returned to the issuing bank. Bring your passport; the branch can hold the card for you to collect or advise on the return process.
- Some ATMs time out quickly; have your PIN ready before inserting the card.
Where can I exchange money in China?
Where to Exchange
| Channel | Rate quality | Speed | Notes |
|---|---|---|---|
| Bank of China branch | Best available (bank’s selling rate — slightly below the mid-rate, but the closest rate available to retail customers) | Slow (30–60 min, queues) | Passport required; present at the FX counter; best for large amounts |
| Airport exchange counter | 3–5% worse than bank | Fast | Useful for a small amount on arrival to cover immediate costs; avoid for large exchanges |
| ATM withdrawal | Close to bank rate (minus fees) | Fast | Practically equivalent to bank rate for small/medium amounts; convenient |
| Hotel exchange desk | Variable, often poor | Fast | Use only as a last resort |
| Unofficial street exchange | Avoid | — | Counterfeit notes and short-changing are common; illegal |
Recommended approach: withdraw ¥500–1,000 from a Bank of China ATM on arrival for immediate needs; exchange larger amounts at a bank branch if you need significant cash for a longer trip.
Supported Currencies
Major currencies exchangeable into RMB at Bank of China and most commercial banks: USD, EUR, GBP, JPY, HKD, AUD, CAD, CHF, SGD, KRW, THB.
Less common currencies may only be exchangeable at Bank of China main branches in major cities — confirm before travelling to smaller cities with non-major currencies.
Exchange Rate Reference
Bank of China publishes live exchange rates at bankofchina.com (English version available). The rate used at the counter is the bank’s selling rate (卖出价), which is slightly worse than the mid-rate. ATM withdrawals use a rate close to the mid-rate plus the card network’s conversion spread.
Converting Leftover RMB at Departure
You can convert unused RMB back to foreign currency at bank branches or airport exchange counters. Keep your original exchange receipt (水单) — banks may require it to verify the RMB was obtained through legitimate channels, particularly for larger amounts. The reconversion process requires your passport.
How much cash can I bring into China?
| Cash type | Limit | Declaration required |
|---|---|---|
| RMB | ¥20,000 per person in or out (source: customs.gov.cn) | Amounts above ¥20,000 require prior approval from the State Administration of Foreign Exchange (SAFE, 国家外汇管理局) — apply at safe.gov.cn or a major Chinese bank before travel; this limit is rarely an issue for tourists |
| Foreign currency | No cap on bringing in (source: customs.gov.cn) | Declare to customs in writing if carrying more than USD $5,000 equivalent on entry |
| Foreign currency out | USD $5,000 equivalent without permit (source: customs.gov.cn) | Carrying more than $5,000 out requires a permit issued by an authorized Chinese bank — apply before departure |
Declarations are made on the inbound customs form. Keep receipts if you carry large amounts — customs may ask for evidence of legitimate source.
Do shops in China accept foreign cards?
Beyond ATMs, foreign Visa and Mastercard can be used at the POS in:
- 3-star and above hotels (required by the PBOC April 2024 circular, source: english.www.gov.cn — compliance varies in practice; see Accommodation)
- International chain restaurants and major department stores
- Some supermarkets (Walmart, Carrefour, Metro)
Most ordinary merchants, street vendors, small restaurants, and budget shops do not accept foreign cards at POS — this is why Alipay or WeChat Pay with a bound foreign card is the practical daily solution (see Mobile Payment).
Can a foreigner open a Chinese bank account?
Foreign visitors can open a Chinese bank account and obtain a UnionPay debit card at commercial bank branches. This is useful for longer stays — a Chinese bank card enables full functionality in Alipay and WeChat Pay (including P2P transfers, higher limits, and services that reject foreign cards).
Requirements: valid passport (or Foreign Permanent Resident ID card). Some banks may also request proof of residence, employment, or enrollment.
Process: present your passport at the bank counter at any commercial bank outlet (Bank of China, ICBC, CCB, and others all offer this service). Processing typically takes 30–60 minutes.
Practical note: keep the card secure. If lost, report it to the bank immediately. Short-term tourists generally do not need a Chinese bank card — binding a foreign card to Alipay / WeChat Pay is sufficient for daily spending.
Source: A Guide to Working and Living in China as Business Expatriates 2025 (english.www.gov.cn).
See Also
- Mobile Payment — binding a foreign card to Alipay / WeChat Pay for daily spending
- Accommodation — foreign-card payment at hotel front desks
Frequently Asked Questions
- Should I bring cash or use ATMs in China?
- Mobile pay covers most spending, but keep some cash for small vendors. Withdrawing RMB from a Chinese ATM (Bank of China, ICBC) usually beats exchanging cash at home — check your bank's foreign-ATM fees first.
- How much cash can I bring into China?
- You can carry up to RMB 20,000, or the equivalent of USD 5,000 in foreign currency, without declaring it at customs; above that you must declare.
- Do shops in China accept foreign Visa or Mastercard?
- Direct foreign-card acceptance is limited mostly to international hotels, large department stores and some chains. For everyday spending, bind your card to Alipay or WeChat Pay instead.
- Where can I exchange money in China?
- Bank of China branches and airport counters exchange major currencies — bring your passport. ATM withdrawals are often more convenient and competitive than counter exchange.