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Q: What is the best way to convert money in China?
I've always wanted to go to Japan, and I've been saving all my money since I started working this job in September. I should be going for about two weeks in January. Obviously that means converting a decent amount of RMB. I know how much I will definitely need to exchange, but I don't know how much I will spend for entertainment. Can I just exchange it at the same bank where I have a savings account in China? Is it worse to exchange money once I am already in Japan? I'm completely lost on this one.
12 years 21 weeks ago in Money & Banking - China
Take a Chinese friend they show id give you the money job done!
Outside the bank seems to be the rule, not the exception
In China, as a foreigner, you can exchange as much as the equivalent of $ 500 US dollars per day. So, assume you had 20,000 yuan to exchange, it will take you a trip to the bank on 6 consecutive days. All nice and legal.
Or, you can find a Chinese national to go to the bank for you (better with you) and pretend the money is hers (not yours), show her ID card and change the whole amount in one trip. There is no restrictions for exchange money to Chinese nationals. And it is also all nice and legal.
Now, if it is the other way around, you bring money into China, the best rate of exchange you will get when you do an electronic wire transfer. Lets say the exchange rate is 6.2981 yuan per dollar. If you bring cash, you will get around 6.05 to 6.1. If you do an electronic transfer into China, you will get almost the full rate, maybe 6.25 or so. Depending on the amounbt transferred, it may cover the diffwerence in fee for the wire transfer.
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You can get Japanese yen when going to the airport money changers. I hope you didn’t plan to swim!
Ask a local friend to assist u at China Bank/Constructions/Communications/etc bank. It's less complex that way. Also, tell him/her to take his/her ID card. Then, all u gotta do is pack for Jap 
Have a fun Vacay 
why not just walk to a bank and ask them to change your money
Inside Bank of China, there are people whom they called "black market"' you can approach them and exchange up to 3,000 usd in a day.
Inside Bank of China, there are people whom they called "black market"' you can approach them and exchange up to 3,000 usd in a day.
by western union .you can do or to go to any bank in china give the bank casher some other currency like dollars or pond etc and than ask than whats the rate of changing today and than you will exchange it so simple.
Converting it into beer works. Not so good for travelling, though.
