Money & Credit Cards

Do the major banks have ATM (automatic transaction machine) machines where I may withdraw money at any time or do I have to go through a clerk during business hours? If so, are banks open on Saturday?

You can withdraw money (Chinese Yuan) from ATM machines of Bank of China at any time. And you can also transact through the bank clerk.

Their working hours are 9: 00AM -17: 30PM from Monday to Friday. On Saturday and Sunday, the working hours normally are 9:00AM - 1:00PM, but it may vary with banks. So you are recommended to transact it during the working days. The ATM machine of Bank of China can accept most foreign credit cards, such as VISA, American Express, and Master Card etc.
Is it easy for me to find an ATM in china?

Yes, it is. You can withdraw money (Chinese Yuan) from ATM machines of Bank of China at any time. And you can also transact through the bank clerk.
What currency should I bring?

We suggest you bring your major credit cards, traveler's check and a small amount of cash. Most hotels and shops in major cities accept most international credit cards.
Can I use USD or CNY (Chinese Yuan) in Hong Kong?

US dollars and Chinese Yuan are not widely accepted in shops and restaurants. Although some shops do, their exchange rates might not be very favorable for you. We suggest you exchange whatever curre.
How to use Alipay and Weixin Pay in China?

Whether you’re in China for business, holidays, or seeing family, nearly all kinds of transactions you’d expect - like paying for meals, accommodation, taxis, and travel mementos - can be simply done with your mobile phone now.

E-Wallet mobile apps that are widely used by Chinese nationals are available to foreigners when visiting China. If you love the convenience of digital wallets and cashless payments, you’ll be interested in Alipay and Weixin Pay.

Here’s a quick look at how to set up and add international card to Alipay and Weixin Pay.
What credit cards are accepted in China?

Most of the internationally accepted credit cards are usable in China. They include: Visa, MasterCard, American Express, Diner's Club, and the JCB card of Japan.

Credit cards are accepted only in large shopping malls and stores. Credit card symbols are displayed in the visible place in shops and hotels indicating credit cards are accepted.
May I take Chinese Currency Yuan (RMB) to China for my convenience?

Yes, you can take RMB to China, but you are limited in the value you can bring in accordance with the regulations of the General Administration of China Customs published on Jul 1st, 2005. According to the regulation, passengers who carry over RMB 20, 000 in cash or foreign currencies in cash with a value exceeding US$ 5,000 shall be dealt with by the Customs according to relevant regulations currently in force. In the case that passengers carry foreign currencies exceeding US$ 5,000 in cash, and the intension is to take this money out of the country at the end of their stay, the passengers must complete Customs Declaration Forms in duplicate, one copy of which shall, after being endorsed by the Customs, be returned to the passengers for relevant procedures at the time of their exit.
How to Exchange RMB in China?

A foreigner can bring cash and change it at the Bank of China for RMB. Foreign money can be exchanged in China through traveler's cheques, currency conversion at banks and hotels. Credit cards can also be used. What follows is a more detailed explanation. Enjoy your trip!

1. Traveler's Cheques

Traveler's cheques provide a fairly secure way of carrying money. The Bank of China can cash travelers' cheques sold by international commercial banks and travelers' cheque companies in the United States, Canada, Australia, Hong Kong, Japan, Britain, France, Switzerland, Germany and other countries and regions. Also the Bank of China sells travelers' cheques for such banks as American Express, Citibank, Tongjilong Travelers' Cheque Co., the Sumitomo Bank of Japan, the Swiss Banking Corporation and others.

2. Currency Conversion

Money exchange facilities for both currency and travelers' cheques are available at major airports, hotels, and department stores. Please note that hotels may only exchange money for their guests. The US dollar, British pound, French franc, German mark, Japanese yen, Australian dollar, Austrian schilling, Belgian franc, Canadian dollar, HK dollar, Swiss franc, Danish Krone, Singapore dollar, Malaysian ringgit, Italian lira, Macao dollar, Finnish markka, and Taiwan dollar are all exchangeable. Exchange rates fluctuate in line with international financial market conditions and are published daily by the State Exchange Control Administration.

Keep your currency exchange receipts, because you will need to show them when you change RMB back to your own currency at the end of your visit to China. Currency rather than credit cards is essential in remote areas, and you should ensure that you carry sufficient RMB and travelers' cheques to cover your requirements.

3. Credit Cards

At present, the following credit cards are accepted in China: Master Card, Federal Card, Visa, American Express, JCB and Diners Card. Holders can draw cash from the Bank of China and pay for purchases at exchange centers of the Bank of China, appointed shops, hotels and restaurants. However, this applies only in major cities. Credit cards are not always accepted for the purchase of rail and air tickets. ATMs that accept foreign cards are few and far between. Do not rely on them as a way of obtaining cash in Mainland China. And 4% service charge will be automatically required to add on the price if you pay by any kind of foreign credit cards in China.

Consult with your bank before departing to make sure that your brand of cheque or credit card will be accepted.

Currency Regulations

There is no limit on the amount of foreign currency and foreign exchange bills that can be brought into China by tourists, but the amount must be declared to the customs.

About RMB

Chinese currency is called Renminbi (people's money), often abbreviated as RMB. Issued by the People's Bank of China it is the sole legal tender for both the Chinese nationals and foreign tourists. The unit of Renminbi is yuan and the smaller, jiao and fen. The conversion among the three is: 1 yuan = 10 jiao =100 fen. Chinese people normally refer to Yuan as Kuai, Jiao as Mao. RMB is issued both in notes and coins. The denominations of paper notes include 100, 50, 20, 10, 5, 2 and 1 yuan; 5, 2 and 1 jiao; and 5, 2 and 1 fen. The denominations of coins are 1 yuan; 5, 2 and 1 jiao; and 5, 2 and 1 fen.