Changing RMB

Posted by magpie (1394 days ago)

Does anyone know how to change RMB into foreign currency (sterling) in China? Bank of China told me I couldn't do it - are there any sneeky ways?!

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Posted by Rolf Streete (1394 days ago)

Magpie, you can do it if you have the following.....

Cut and Paste from a previous thread:
"You can exchange salary and TT from Bank Of China (Ya Bao Road Branch) - the only one in Beijing apparently. (Tel: 010 6519 9132)

You need to take the original and photocopy of the following (every time you undertake a transaction):

Passport (visa)
Work Permit
Residence permit
Employment contract
Payroll statement (salary slip)
Tax Receipt for above Payroll statement

Go to counter 29 for Foreign exchange. They will covert RMB into whatever currency you require. They will then send you upstairs with a brass numbered token, to the TT counter which will process the TT (charge around 200RMB). The whole process may take 2 to 2.5 hours but it is legal and safe, if a little slow and laborious.
You really need to take a fluent Chinese speaker as the staff English levels are poor and confusion can easily arise. This is the best way to send Chinese earned salary. I undergo this task every 2-3 months or so. Best to go early in the morning and be prepared for the wait."

Posted by honeybee (1393 days ago)

hi. coincidentally i met this friend of the woman i buy local air tickets from across the road from BOC Yabao Lu. she gave me her contact should i need to exchange currency. it's 'black market' and i've not tried it myself but if you really need to resort to this let me know. i personally would feel much 'safer' with what rolf has advised.