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 37 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 37 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: Sounds like you employer does not want t...

A: I had a similar experience in HK. If I recall correctly, before or at

A:I had a similar experience in HK. If I recall correctly, before or at the Z visa application, I had to submit ME from the ordinary HK clinic, where I explained why I need ME and I asked them to examine only necessary things (I don't remember the cost ...), and then ... I got Z stamp and when back in China, I had to complete another RP ME, which was on the employer, i.e. included in the Contract ...We've never discussed refund of payment for HK ME with my employer. Year 2013 ...I'd say, that is a regular thingy embassies around the world require, before issuing visas for LT stay in the country. "Vladimir Vladimiro-Witch ras-Putin" (LOL@your pronunciation ..) demands the same thingy before granting LT stay in Ruski. ... Haa, 2013 was the Snowden's year. I was in Kowloon at the time of his landing .. with all these files ... I'm-Still-in-LMAO-State ... Cost for the ME in HK was around HK$ 2000/200 EUR, and ME was kind of swift, quicker and way shorter than on the mainland ... -- icnif77