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Q: How much money can you exchange at the airport?
Is it the same amount as in a bank? If so, what are the best ways to bypass the limit imposed on foreigners?
12 years 12 weeks ago in Money & Banking - China
Taking money out.... or bring in??? dont need to change at the airport....
It is not indicated if the exchange will happen when you arrive, or when you depart. Normally on airports there are two types of exchanges, one provided by Chinese Banks, and one provided by private companies. I will not elaborate on ways to "bypass" Chinese Laws and Regulations, because if you are caught, consequences could be very unpleasant.
There are a few regulations involved :
1.- when flying in, cash or negotiable securities brought in with you are limited by your country in many cases. From USA is $ 10,000 US dollars.
2.- Arriving in China, Chinese Governemnt has no upper limit set, but you will have to declare, according to customs:
-- Passengers who carry RMB cash over 6,000 Yuan
-- who carry cash of foreign currency over the sum equivalent to USD 5,000
From
http://en.bcia.com.cn/harbor-guide/iarrive.shtml
3.- a foreigner can exchange local Rmb into foreign currency at a rate of the equivalent of $ 500 USD per day. A Chinese national has no limits.
4.- On exiting China, a foreigner can have in cash or negotiable securities an amount not to exceed 6,000 Rmb or equivalent.
It is wise to save the receipts of changing foreign currency into Rmb, so when you leave you can justify changing back to your home currency up to same amount.
Do you have a bank card with UnitedPay on it? I went to Japan for 2 weeks, and didn't know about it until the night before I left. I could draw out money at any 7eleven, and there are a lot in Japan. If you're just traveling, it's a good option. However, if you plan to take the money home, it's probably best not to try and exchange it all at the airport.
