Owais Crawford
If you're travelling to China, it's a good idea to carry some Chinese Yuan (RMB) for smaller purchases or taxis. While it's possible to exchange your foreign currency at the airport, the kiosks located outside the baggage claim area typically offer poor exchange rates. Instead, you can exchange a small amount of cash at the airport, just enough to cover immediate expenses like transportation and food. A better option is to use ATMs, which are widely available and accept foreign credit and debit cards. However, be mindful of foreign exchange fees charged by both the Chinese and your home bank. Alternatively, you can exchange money at major bank branches, but this process can be time-consuming and may require knowledge of Chinese. In conclusion, while there are several options for exchanging USD to RMB in Xian Airport, a combination of exchanging a small amount at the airport and utilising ATMs or banks for larger sums may be the most convenient and cost-effective approach.
| Characteristics | Values |
|---|---|
| Can I exchange USD for RMB at Xi'an Airport? | Yes, it is possible to exchange USD for RMB at Xi'an Airport. There are exchange vendors at the airport. |
| Exchange rate | The exchange rate at the airport is not favourable. |
| Other options | It is possible to exchange currency at banks, hotels, and ATMs. |
| Payment options in China | China is moving towards a cashless society with mobile payment systems like WeChat and Alipay. Foreign credit cards are not widely accepted, especially in small stores and local markets. |
| Currency | Renminbi (RMB) is the official currency of China. The basic unit of RMB is yuan. |
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What You'll Learn
Exchange rates at Xian Airport
When travelling to China, it is recommended that you carry some Chinese Renminbi (RMB) or yuan (CNY) with you, especially for smaller purchases or taxis. While mobile wallets like Alipay and WeChat Pay are widely used in China, they are not available for every foreign tourist. Credit cards are also not readily accepted, especially in small stores and local markets.
If you are flying into Xi'an, you can exchange currency at the Xi'an Xianyang International Airport (XIY). The airport has currency exchange booths, ATMs, and banks where you can exchange your money. However, keep in mind that exchange rates at airport kiosks tend to be less favourable than those offered by banks. It is advisable to exchange a small amount of money at the airport for immediate needs, such as transportation and meals, and then look for better exchange rates at your destination.
ATMs at the airport can provide a more convenient way to obtain local currency upon arrival. There is a Bank of China ATM in the arrivals hall, which is located on the left side when exiting the luggage pickup area. However, the ATM interface may be challenging as only some of the screens are in English.
If you prefer to exchange currency at a bank, you can find branches of major banks, such as the Bank of China, at the airport. These banks may offer more competitive exchange rates compared to the kiosks. Additionally, you can use the services of currency speculators who approach customers near bank branches.
It is important to be cautious when handling large amounts of cash and to be aware of counterfeit banknotes, especially the ¥100 and ¥50 denominations. Familiarise yourself with the security features of genuine banknotes, such as watermarks, colour-changing ink, texture, and braille dots.
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Using ATMs in China
While China has quickly adopted mobile payment systems like WeChat and Alipay, they are not available for every foreign tourist. Credit cards are not widely accepted, especially in small stores and local markets, so it is advisable to carry some Chinese cash (RMB) with you.
ATMs are a common sight in major Chinese cities such as Beijing, Shanghai, and Guangzhou, and you should also be able to find them in more rural areas. China's ATMs are operated by UnionPay, which has a convenient online ATM locator. However, as most ATMs are located in bank lobbies and shopping centres, they are not accessible 24 hours a day. Many ATMs also tend to run out of cash during the weekend, so it is best to plan ahead and withdraw money during the week.
If you have a Chinese bank account or know someone who does, you can use TransferWise to make the transfer ahead of time and save money. TransferWise uses the real mid-market exchange rate to convert your money, which usually beats the banks. Since your currency is received and sent via local banking systems in both your home country and China, international fees are avoided.
If you are a customer of a large international bank with branches in China, such as HSBC, Citibank, or Scotiabank, you can use their ATMs in China without paying an ATM fee. This applies to all Citibank and Scotiabank customers, but only to Advance and Premier HSBC customers. Scotiabank is a member of the Global ATM Alliance, so if you are an Alliance member, you can use their Chinese ATMs free of charge. Your bank may also have a special arrangement with a Chinese bank that would allow you to make withdrawals fee-free or at a reduced cost.
While a lot of the signage on ATMs is in Chinese, most ATMs offer an English language option. In popular business and tourist areas, many ATMs also have other language options, usually French, German, Italian, and Spanish. However, different ATMs tend to have different keypad layouts, so always check the layout before entering your PIN. Inputting the wrong PIN three times will result in your card being swallowed by the machine. You will need to go to a branch with your passport and provide the correct PIN to recover it. Chinese banks use six-digit PINs, so it is recommended to notify your bank that you will be travelling to China so they don't block your card for suspicious activity.
You can also exchange some Chinese cash in your home country as your "emergency fund". It is recommended to exchange about $100 worth of cash into RMB when you arrive at the airport, which will allow you to take a taxi and eat on your first day. Exchange rates at the airport are usually worse than at a bank, so only exchange a small amount.
In conclusion, while ATMs are readily available in China, it is advisable to carry some cash with you, especially for smaller purchases or taxis. Mobile wallets like Alipay or WeChat Pay can also be convenient, but they may not be available to all foreign tourists.
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Exchanging currency in Chinese banks
When exchanging currency in a Chinese bank, you will need to present your passport. There are also annual exchange limits for both Chinese citizens and foreign citizens, which is generally around the equivalent of $50,000 USD per year. Exchanging amounts over this limit will usually require additional documentation and justification.
It is important to keep all receipts from currency exchange transactions, as they will be needed to exchange leftover Yuan back into your home currency. Without these receipts, banks will likely refuse the exchange.
While it is possible to exchange currency at Chinese airports, hotels, and ATMs, the exchange rates are typically worse than those offered by banks. Currency speculators or black market money changers outside banks may offer better rates, but there is a risk of receiving counterfeit banknotes.
To ensure a smooth experience when exchanging currency in China, it is advisable to plan in advance and be aware of the local currency and banking system. Carrying cash, particularly in smaller denominations, is also recommended for smaller purchases or services such as taxis.
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Mobile wallets for foreign tourists
China has become a global leader in mobile payments, with digital payment apps becoming the preferred way to pay for goods and services. Mobile wallets have become so integrated into daily life that they are the go-to payment method for almost any transaction.
The two dominant mobile payment platforms in China are Alipay and WeChat Pay. These apps are similar to digital wallets, allowing users to store money and make payments. They can be used for almost everything, from buying groceries to splitting bills with friends. Alipay is connected to the online shopping website Alibaba, so it can also be used for online shopping. WeChat is more than just a payment app; it also allows users to chat and share with friends.
For foreign tourists, WeChat Pay has become increasingly accommodating, providing multilingual support and an improved registration process for non-Chinese users. Alipay is also recommended for foreign users as it can generally cover all purchase needs, and the registration process is easier than WeChat Pay, with no verification required. Both apps simply require a phone number and bank card to set up.
It is possible to link a foreign credit card to Alipay or WeChat Pay, if your bank and the app allow it. This can be a convenient way to pay in many places, especially in larger cities. However, it is worth noting that WeChat Pay restricts individual transfers to accounts linked with international cards, so reimbursement between friends may be an issue.
For those seeking a more familiar approach, internet banking remains an option. You can use your foreign bank's online platform to transfer funds to major Chinese banks. However, directly paying businesses or individuals in China may be restricted due to international banking regulations.
Currency Exchange at Xi'an Airport
It is possible to exchange USD for RMB at Xi'an Xianyang Airport, either at a kiosk or via an ATM. However, the exchange rate at the airport kiosks is likely to be worse than at a bank, and there may be additional fees for ATM withdrawals. It is recommended to exchange a small amount of cash at the airport for immediate expenses, such as taxi fare and food, and then seek a better exchange rate at a bank or hotel once you have arrived at your destination.
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Carrying cash in China
Renminbi (RMB) is the official currency of China, with yuan being its basic unit. While China has adopted mobile payment systems like WeChat and Alipay, these are not available for every foreign tourist, and credit cards are not widely accepted, especially in small stores and local markets. Therefore, carrying some cash is advisable.
International travellers can bring up to 5,000 USD or 20,000 CNY into China. If you plan to carry more than 5,000 USD, you must declare it with Chinese customs. It is recommended to carry some Chinese yuan (RMB) for smaller purchases or taxis, especially as your bank card may be frozen if you do not notify your bank that you will be travelling to China.
You can exchange some Chinese cash in your home country as an emergency fund, and then exchange about 100 USD at the airport when you land, which will cover transport and food for your first day. However, exchange rates at the airport are often unfavourable, so it is best to only exchange a small amount.
In China, you can exchange money at international airport kiosks, major banks, hotels, and ATMs. Exchanging money at a bank will usually get you a better rate than at airport kiosks, and you may find currency speculators outside bank branches offering a good rate. However, withdrawing money from an ATM is a convenient option, and most ATMs will give you a similar exchange rate.
It is worth noting that receiving counterfeit banknotes is a possibility in China, especially with 100 and 50 yuan notes, so knowing how to identify counterfeit money is important.
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Frequently asked questions
Yes, you can exchange USD for RMB at kiosks in Xi'an Airport. However, you will get a poor exchange rate.
You can exchange money at a bank, a hotel, or an ATM. Banks and ATMs will give you a better exchange rate than kiosks at the airport.
Credit cards are not widely accepted, especially in smaller stores and local markets. However, you can use your card at most ATMs, which are widely available.
It is a good idea to carry some RMB with you when travelling in China. However, you can use USD to exchange for RMB at the airport or in a bank.
