Money changing

Question

Can you change foreign currencies in Beijing ! I believe you

can go into a bank atm and pick the currency you want to change and it will show on the screen the rate ? Is it true.

Answer

Yes, it is possible to exchange foreign currencies in Beijing, but there are a few important details and limitations to be aware of.

First, you can change foreign currencies at most major banks. The common banks that provide currency exchange services include:

Bank of China (BOC) – usually has dedicated foreign exchange counters at major branches and airports.
Industrial and Commercial Bank of China (ICBC)
China Construction Bank (CCB)
Agricultural Bank of China (ABC)

Important points about using ATMs or bank counters:

While some ATMs allow foreign cards, they usually dispense only Chinese Yuan (CNY). You cannot select a different foreign currency from the ATM screen; it will show the conversion based on your card’s currency.
At bank counters, you can exchange foreign currency for CNY. You will need your passport to complete the transaction.
Rates at ATMs may differ slightly from bank counters because ATMs use the card’s home bank conversion rate, which may include additional fees.
Not all banks exchange all currencies; US Dollars (USD), Euros (EUR), British Pounds (GBP), and Japanese Yen (JPY) are the most widely accepted.

Other options include:

Currency exchange counters at Beijing Capital International Airport or Beijing Daxing International Airport – these are convenient but usually have slightly higher rates.
Some major hotels offer currency exchange for guests, but the rate is often less favorable.

Summary:

You cannot use an ATM in Beijing to directly pick the currency you want; ATMs dispense only CNY. To get foreign currencies converted into Chinese Yuan, you should go to a bank or official exchange counter and bring your passport. Make sure to compare rates at different banks or counters if possible.

Money changing

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