Many students choose to study abroad, so what are the currency exchange tips that students studying abroad need? This is a question that many students are interested in. Let's take a look!
Domestic foreign exchange
At present, the four major domestic banks: Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China, and Construction Bank of China can exchange foreign currencies. Among them, Bank of China can exchange the most currencies, including: British pounds, Hong Kong dollars, US dollars, Swiss francs, Singapore dollars, Swedish kronor, Danish kroner, Norwegian kroner, Japanese yen, Canadian dollars, Australian dollars, euros, Macau patacas, Philippine pesos, Thai baht, New Zealand dollars, Korean won, etc.
Other banks such as China Merchants Bank and Bank of Communications can also handle it. If the credit card of China Merchants Bank or Bank of Communications has a limit of RMB 30,000, then an equivalent amount of US dollars can be withdrawn.
In addition, not all bank branches can handle foreign currency exchange. In some cities, only certain branches can exchange foreign currency, so you need to call in advance to inquire. The procedure for foreign currency exchange is not complicated. After making an appointment, you can bring your valid ID, fill out relevant documents, and pay cash to handle it.
Large amounts of foreign currency exchange before studying abroad must basically be done at domestic banks.
Foreign currency exchange abroad
If you don't have time to change it in China in advance, you can only choose to change it abroad.
Foreign airports, hotels, foreign exchange offices, banks, and some ATMs can exchange or withdraw local currency, but the exchange rates vary greatly.
1. Foreign currency exchange point
These exchange points are scattered throughout the streets, shopping malls and busy areas in the city center. They are open for a long time, and some are open 24 hours a day, making it very convenient to exchange money. However, the exchange rates of each store are different. If time and energy permit, it is recommended to shop around. Foreign exchange offices generally charge a handling fee of 3%-9%, and some claim to have 0 handling fees. Let me tell you a secret: you can bargain when exchanging currency in such places.
2. ATM
The handling fee for withdrawing foreign currency from ATMs abroad is not outrageously high, and banks generally keep it within a reasonable range. So, if the exchange rate at the exchange point is too low, then go to the ATM to withdraw.
3. Airports and hotels
The exchange rates at airports and hotels are very low, and they may also charge high fees. If you really need to exchange money here, try to go around the airport as much as possible. Often, the exchange windows in the corners that are not so conspicuous and easy to find will offer better prices. Be sure to check the approximate exchange rate before exchanging money, otherwise you may be ripped off. You can also bargain when exchanging money at these places.
4. Tour Guide Office
If you are traveling with a group, your tour guide can also help you exchange foreign currency. Usually, they will charge a little extra. However, if they help you choose an affordable exchange point, then it is reasonable to charge a little extra.Common knowledge for international students in the United States, ,General Knowledge English for American Students, ,What are the safety tips for studying in the United States?, ,Common knowledge about studying in the United StatesThe problem.
Summary of common sense on currency exchange for studying in the United States
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