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: Wise, as of June 2026; YouTrip cites a lower ¥10,000 cap, so confirm with your bank)	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. Bring your passport; the branch can hold the card for you to collect or advise on the return process. Retained foreign cards may not be returnable on the spot, so do not rely on a single card.
• 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	Markedly worse than bank (commonly 10–20% worse, source: travelchinacheaper.com)	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	Declare at ¥20,000 or above, in or out (GACC passenger guide)	The threshold is inclusive — GACC’s red-channel table reads “RMB20,000 cash or above”, so exactly ¥20,000 already requires declaration, not just amounts over it. Declared amounts may require supporting documents and the excess can be refused or confiscated. Rarely an issue for tourists
Foreign currency in	No quantitative limit on the amount; declare at USD $5,000 equivalent	GACC’s guide states it directly: “There are no quantitative restrictions imposed on foreign currencies, traveler’s checks, or letters of credit brought in.” Declaring is the obligation, not a ceiling. Note an inconsistency inside the guide itself: its red-channel table says “$5,000 or above” while its foreign-exchange section says “more than $5,000USD”. Declare at exactly $5,000 to be safe. NIA adds a carve-out: no written declaration for travellers making multiple entries on the same day or within a short period
Foreign currency out	Governed by what you declared on entry	GACC: “Customs shall release the cash at passengers’ departure upon the declaration made at the last entry.” So file two declaration forms on entry if you bring in over $5,000 and plan to take it out — Customs endorses and returns one for departure. If you have no entry declaration, or carry more than it records, GACC releases only “the discrepancies upon certificate issued by the Foreign Exchange Bureau or its authorized banks” — that is the real basis for the “bank permit” you may read about elsewhere, and it attaches to the excess over your declared amount, not to every departure above $5,000

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). Allow time for paperwork and identity checks; the process is usually completed during a single branch visit.

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