Where to exchange money in China?
FR

Translated into English.

Original post
RO
Hi,

As mentioned in a previous post, I’m heading to Hong Kong and then spending a month in China (passing through Shenzhen).

I’d like to have some cash on me, so I’m wondering where’s the best place to exchange? In Shenzhen city? At Hong Kong Airport? Somewhere else?

For Hong Kong/Macau, I was thinking of using my bank card + Octopus card—I’m not sure if that’s the right call.

Thanks for your insights!
PA Parigino Veteran ·
For mainland China (excluding Hong Kong), cash isn’t necessary since everything can be paid via Weixin (WeChat) or Alipay, even the smallest street vendor purchase. That said, it’s still good to have a little cash (but really just a little) as a backup. I imagine you can exchange cash at a bank, but it’s a slow process (that’s how I used to do it years ago). The best option is to have a card that allows fee-free foreign withdrawals (Boursobank offers this, but there are others). Anyway, don’t expect to find currency exchange offices in cities—there aren’t any. Again, I’m talking about mainland China, not Hong Kong. I don’t know about HK.
PA Patrick91230 Globetrotter ·
Hi, Exchange bureaus in China sometimes charge hefty commissions. The best option is to withdraw from ATMs like Bank of China or ICBC—they don’t charge any fees, though your own bank might. You’ll find ATMs everywhere, even in train stations. It’s highly recommended to have the Alipay app for payments in China. Transactions are free up to 200¥.
RO Robert498 Regular ·
Okay, I’ll skip the exchange and just make withdrawals. I have a Fortuneo account.

I set up WeeChat, but I’m having an issue with Alipay—I had the app working before, but now my account seems to be blocked, and I can’t log in.
PA Patrick91230 Globetrotter ·
Hi, You're right, withdrawing is simpler, and Fortuneo doesn’t normally charge fees. For Alipay, it happens—make sure you don’t have an active VPN on your phone when logging in, as that can block verification. It’s also possible you changed your bank card or phone number. If you still can’t get in, uninstall the app and create another account. Just be careful with a different phone number—your passport allows for 3 accounts.
PA Parigino Veteran ·
No need to panic, all the shopkeepers have WeChat. That + a bit of cash and everything will be fine. If the payment is over 200 yuan, ask to pay the difference in cash to avoid WeChat fees.
RO Robert498 Regular ·
Thanks for your replies.

For Alipay, do you absolutely have to verify your identity after creating the account? Where can it work without verification?
PA Parigino Veteran ·
I don’t remember, but I do know I had more trouble installing Alipay than WeChat.
PA Patrick91230 Globetrotter ·
For Alipay, it depends. When I started using it without entering my passport details, I had payment rejections in some shops. Once I entered my details, no more problems.
FA Fastkoala Globetrotter ·
I'm currently in Chengdu, coming back from Chongqing. I only brought cash. No need for Alipay, WeChat Pay, or anything like that... No problem for tourists—only the Chinese pay with their phones. I pay for EVERYTHING in cash, and they manage to give me change. Also, it's illegal for a merchant to refuse cash. EDIT: Exchange at banks. 7 yuan/1 €
RO Robert498 Regular ·
Thanks for the info. So which bank are you switching to in particular? And how much time does it take you?

Just so you know, I don’t speak Chinese.
FA Fastkoala Globetrotter ·
Me neither, I don’t speak Chinese. There are only 2 banks that exchange money in Chongqing: Bank of China and ICBC, both located near the Liberation Monument. Their branches don’t exchange currency. It’s true that it’s a hassle. It took me 20 minutes—you sit down, they scan your passport, you need the name of your hotel (a business card is better), whether it’s for business or tourism, your arrival and departure dates, etc... and it takes forever to type all that into the computer. I exchanged 200 € at ICBC, and the teller didn’t speak English, so you’ll need a translation app on your phone.

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