Exchange Money in Beijing and China

Planning to go to Beijing China, no matter for sightseeing or business, a vital thing should be considered about is the money exchange.

Where is the best place to exchange the money in Beijing?

1. China Banks
The best place to exchange foreign currency in Beijing is the Beijing airport’s arrival area: just before you exit the arrivals gate and enter the terminal. On the side there is a Bank of China.

Bank of China
Once you step out of the arrivals gate there are extra charges for exchange at all banks, including the Bank of China. Banks in China will exchange foreign currency Monday to Friday only, not on the weekends. All banks are open 7 days/week but will not do a foreign exchange transaction.

2. Exchange in ATMs or Hotels
If you do not want to line up and schedule for money exchange in the Bank of China, the ATMs and your hotels are good options.

Chinese ATMs in Beijing
ATMs are also widely available, although only some will work with international cards. Look for machines with your card system’s logo. Bank of China machines accept most international cards and seem to be reliable and easy to use.
Exchange rates and fees are controlled and the same everywhere within China, so usually it is the easiest way to change money at the airport or in your hotel. There are several major Chinese Banks and they are open 24 hours a day.

Tips of Money Exchange:

* ATM scams do happen in China although not a big problem. So do cover the keyboard when you enter your password and choose a machine you deem safer. An ATM inside a bank or at an airport is safer than a hole in the wall.

* I have to say that you really need to be careful because counterfeit money is little bit rampant in China right now. I hate to say that I received a counterfeit 50 RMB at a five-star hotel, and a fake 100 RMB from a Bank of China ATM. They would not take any responsibility for the money they gave, so it would be a struggle.

* The best way to tell if the money is real is to feel the collar on Mao’s shirt to see if it is grainy. If it is, the money should be real. Any bills with unusual thickness are not real either. Just be careful. Certainly, this kind of bad thing does not happen often.