Where is the best place in Beijing, China to exchange USD to Chinese Yuan RMB?

Question

i mean not bank.

Answer 1

I always do it at the airport... and try to avoid the hotels... in China though, the currency is pegged to the US Dollar, so you should get a pretty fair rate everywhere (no risk of fluctuation).

Note this though, for both your safety and just as fun fact for you; in China, they actually have a currency exchange black market. Its obviously highly illegal, but pretty common over there. There are pleanty of "brokers" that will take your USDs for a much better exchange rate than the standard 8.2 yuan to the dollar. Sometimes as high as 20 yuan to a dollar! Its usually stolen or counterfiet money though, and a felony-level crime if you get caught, so be careful to make sure that the people you're dealing with are legit - and that your money is real!!! There is a lot of counterfiet US currency over there as well, so watch your greenbacks if you try to make change in USDs!

Answer 2

Ok, I have done this many times and I have found that the best way is to open a HSBC account. Have your USD in this account. There are free checking or free savings account which you can open in a matter of 1 hour.

When you get to beijing, you can get RMB at any HSBC atm; there a few HSBC atms in the airport. HSBC will take like a 1-2% in exchange rate. So if its 1USD to 7.78, you will get about 7.6 or so.

Other ways are unsafe or you will get a bad rate in exchange.

GL.

Here is a list of other places where you can get RMB from HSBC in Beijing:

Beijing branches
Beijing Branch (Premier Services, General Personal Banking services, Commercial Banking Services)
G/F, Block A, Beijing COFCO Plaza
No.8 Jianguomennei Dajie
Dongcheng District
Beijing
100005
People's Republic of China
Telephone: [86] (10) 6526 0668
Fax: [86] (10) 6526 0669
24 hour in -branch ATM service
Beijing China World Trade Centre Sub-branch (Premier Services, General Personal Banking services, Commercial Banking Services)
Suite L129, G/F China World Shopping Mall
No.1 Jianguomenwai Dajie
Chaoyang District
Beijing
100004
People's Republic of China
Telephone: [86] (10) 5866 9866
Fax: [86] (10) 5866 9855
24 hour in-branch ATM service
Beijing Zhongguancun Sub-branch (Premier Services)
Unit B1-B2, G/F, Building A, Cyber Tower
No.2 Zhongguancun South Avenue
Haidian District
Beijing
100086
People's Republic of China
Telephone: [86] (10) 6215 9288
Fax: [86] (10) 6216 8865
24 hour in-branch ATM service
Beijing Lufthansa Centre Sub-branch (Premier Services)
Shop W102/104, West Wing, Beijing Lufthansa Centre
No.50 Liangmaoqiao Road
Chaoyang District
Beijing
100016
People's Republic of China
Telephone: [86] (10) 8451 9500
Fax: [86] (10) 6461 8536
24 hour in-branch ATM service

Other HSBC ATMs in Beijing
Lido Shopping Arcade
G/F, Lido Shopping Arcade, Lido Place
Jichang Road, Jiangtai Road
Beijing
24 hour access
China World Hotel
No.1 Jianguomenwai Dajie
Dongcheng District
Beijing
24 hour access
Beijing International Airport
International Arrivals Hall
Beijing International Airport
Beijing
24 hour access
Oriental Plaza
2nd Street, Oriental Plaza
No.1 East Chang An Street
Dongcheng District
Beijing
Access during Oriental Plaza opening hours
Carrefour, Zhongguancun
No.8 Haidian Street
Haidian District
Beijing
Access during Carrefour opening hours
Carrefour, Shuang Jing
Entrance at the 3rd floor , No.31 Guangqu Road
Chaoyang District
Beijing
Access during Carrefour opening hours
Silk Market Building
Ground Floor, No. 8 Jianguomenwai Silk East Road ,
Chaoyang District
Beijing
24 hour access
Carrefour,Chuang yi jia
No.6 East Road, North 3rd Ring
Chaoyang District
Beijing
Access during Carrefour opening hours
Pinnacle Plaza

Answer 3

It is unlawful to exchange USD to RMB except at approved locations (banks, hotels, airport counters, etc.). You really can't get much of a difference among these (some hotels seem to be a little worse than banks). Conterfeit Chinese bills (chiefly 100 RMB notes) are very common - that's why taxi drivers and clerks always look so carefully at your bills. If you get better than about 7.8 RMB : 1 USD, there is something wrong.

I would use a bank; sorry!

Answer 4

Yes, definitely convert it before you leave. You have many options. 1.) Call your local bank and ask if you can order Chinese yuan (RMB), this will give you a better exchange rate. 2.) Go to the airport in USA and exchange there, it is convenient, but not best rate.

Answer 5

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Answer 6

If not a bank...go to the airport. Peking Airport has a large money exchange desk....it is the only safe place to do it. Otherwise you may end up with a lot of counterfeit yuan.

Answer 7

i've been to china 4 times, i never take much u.s. currency. i use my check card from my bank at the bank of china. just like you would at home. you do need your pin number. it takes the money out of your checking account at home and gives you chinese yuan. then you get a receipt. it is necessary that you inform your bank at home before you do this or else they might think your card might be stolen. it is easy, fast, reliable and never a problem. i did this in beijing, shanghai, guangzhou and hong kong.

Answer 8

Do you mean black market? I definitely advise you not
to because you may be cheated. Try the hotel desk they
are safest.