How to exchange foreign currencies for RMB in Shanghai

Original Lu Shujing City News Service 2023-12-20

The Chinese currency renminbi (RMB), or the yuan, is not freely convertible. Exchanging RMB is your first step in China, whether you're on the street or just off the plane.

At the airport

Shanghai Pudong International Airport:

Both Terminal 1 and Terminal 2 offer currency exchange services.

Shanghai Hongqiao International Airport:

Only Terminal 2 offers currency exchange services.

Bank branches

Airport foreign exchange is mostly done at bank branches. Some of them have rules for old and new notes. So, carry an adequate amount of new versions of the currency. Bank exchange rates may vary significantly.

Bring your passport and cash.

No appointment is required.

Limit of US$5,000 per day.

Business hours: 9am-5pm.

Currency exchange machines

Currency exchange machines

The exchange rate at the currency exchange machine may be higher than that at the bank branches.

Bring your passport and cash.

Limit of 2,500 yuan (US$342.82) per transaction.

Business hours: 24 hours.

ATMs

They can usually be found near bank branches. Most of them accept MasterCard and Visa. You can withdraw RMB with a foreign debit or credit card.

Bring your foreign debit or credit card.

Usually limited to 1,000 yuan per transaction.

Business hours: 24 hours.

Major banks in the city offer currency exchange services. Look out for the green "EXCHANGE" icon.

In the city

Banks

You can choose from the following banks to exchange currency:

State-run banks

Bank of China, Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China and Bank of Communications

Commercial banks

Shanghai Pudong Development Bank, Industrial Bank, China Merchants Bank and China CITIC Bank

Foreign banks

Standard Chartered Bank, The Hongkong and Shanghai Banking Corporation Limited

Although these banks offer currency exchange services, their sub-branches may not offer such service. Look out for the green "EXCHANGE" icon. It is usually on the exterior wall of the bank.

Bring your passport and cash.

No appointment is required.

Limit of US$5,000 per day.

Business hours: typically 9am-5pm. We recommend calling ahead to verify these hours.

Most ATMs, both at airports and in the city, accept MasterCard and Visa.

Currency exchange machines

Some international hotels are equipped with currency exchange machines. Please check with your hotel.

Bring your passport and cash.

Limit of 2,500 yuan per transaction.

Business hours: 24 hours.

ATMs

The ATMs are operated in the same manner as those at airports.