How to exchange foreign currency for outbound tourism is the most economical and cost-effective

Where can I exchange money abroad? What's the best deal? How much is appropriate? This detailed foreign currency exchange strategy, hurry up and put it away, you will definitely use it abroad!

Skills 1 can be exchanged in domestic banks, but not elsewhere.

The first principle of foreign currency exchange: if you can change it in a domestic bank, you can change it in advance. Because the exchange rate is the most cost-effective for domestic banks! There will be exchange rate differences at airports, exchange points or ATM machines at home and abroad to exchange foreign currency. So if you have enough time, change it at the bank in advance.

Tip 2 It is not advisable to convert foreign currency into cash too much.

Travel shopping is mainly based on credit cards, and cash is mainly used to pay for transportation, snacks and other expenses. Therefore, it is recommended to exchange less foreign currency. If you go to Southeast Asian countries, you can exchange the equivalent foreign currency of 5000 yuan. And if the foreign currency is not used up, it will be converted back to RMB after returning home. Take the US dollar as an example, it will cause a loss of about 1.2%.

It is worth mentioning that, according to the regulations of China Customs, each person can take the equivalent foreign currency of no more than RMB 20,000 or US$ 5,000 out of the country. If it exceeds the quota, it must be declared to China Customs before leaving the country. Usually, the amount of $5,000 can meet most of the needs when traveling, and the rest can be spent by credit card.

Tip 3: It is most appropriate to change money one or two weeks before going out.

When is the best time to exchange money? It is most appropriate to change one or two weeks before going out. The most taboo is to exchange money one or two days in advance, because many banks need to make an appointment in advance to exchange foreign currency, which may not be available on the same day.

A tip of $4 can be used as a transit currency for small amounts of money.

What should I do if I want to change small currencies, such as Vietnamese dong, Myanmar dollar and other Southeast Asian currencies, but I can't exchange them directly in domestic banks? At this time, you can change RMB into dollars first, and then go to the local area to change it into local currency. Because the US dollar is recognized as the currency in circulation in all countries and the exchange rate of the US dollar is relatively stable, it is more favorable to exchange the US dollar at home than abroad.

Tip 5: Credit card spending can reduce the handling fee.

Before you exchange foreign exchange, you should not only pay attention to the exchange rate, but also find out whether there is a handling fee. If yes, choose to spend by credit card, which can reduce the formalities fee. At present, many banks have launched dual-currency credit cards in RMB and USD for outbound travel. When a non-US dollar settlement country is selected, the credit card will be settled in local currency, and the credit card repayment slip will be displayed in US dollars. After returning home, you can use US dollars or go to the bank to exchange RMB for repayment.

However, it should be noted that it is best to use your own credit card abroad and sign it on the back, because in most cases, the store will recognize my signature more than the credit card password.

Pay attention to the WeChat service number (ID: sijiatuan) of "6-person Tour Consultant", or download the "6-person Tour" APP in major app stores to customize the tour route for free, or call 400-0 10-6003 to consult the travel consultant for free.

Which domestic banks can exchange foreign currency?

At present, the four major banks in China: China, agriculture, industry and construction can exchange foreign currency. Among them, China Bank has the most convertible currencies, including: British pound, Hong Kong dollar, US dollar, Swiss franc, Singapore dollar, Swedish krona, Danish krona, Norwegian krona, Japanese yen, Canadian dollar, Australian dollar, Euro, Macau pataca, Philippine peso, Thai baht, New Zealand dollar and Korean won. China Merchants Bank, Bank of Communications and other banks can also handle it. If the credit cards of China Merchants Bank and Bank of Communications have a limit of RMB 30,000, then there will be equivalent US dollars to be withdrawn, that is, 30,000/6.66 = US$ 4,504.

In addition, not all banks can handle foreign currency exchange business. In some cities, only some business halls can exchange foreign currency, so you need to call in advance for consultation. The procedure of foreign currency exchange is not complicated. After making an appointment, you can apply with your valid ID card, fill in relevant documents and pay cash.

Where can I exchange foreign currency abroad?

If it is too late to change in advance in China, you can only choose to change abroad. Foreign airports, hotels, foreign currency exchange points, banks and some ATMs can exchange or withdraw local currency, but the exchange rate is very different.

(1) The foreign exchange point is here.

Some exchange points are all over the streets, shopping malls and busy areas in the city center, with long business hours, and some are still 24 hours, which is very convenient for exchange. But the exchange rates of different stores are not the same. If time and energy permit, it is recommended to shop around.

②ATM

The handling fee for foreign ATMs to withdraw cash is ok, but not too high. Banks are generally controlled within a reasonable range. So if the exchange rate at the exchange point is too low, go to the ATM to get it. At present, Huaxia Bank's "6-prefix" debit card can withdraw money from ATMs with UnionPay overseas, and the down payment is free every day.

③ Airports and hotels

The exchange rate of airports and hotels is very low, and high handling fees may be charged. If you really want to make an emergency exchange here, try to transfer to the airport, and often the exchange window that is not so conspicuous and easy to find in the corner will be more favorable.

④ Tour guide office

If you are traveling in a group, your guide can also help you change foreign currency. Usually, they charge a little extra. However, if someone helps you choose an affordable exchange point, it is reasonable to charge more.

Pay attention to the WeChat service number (ID: sijiatuan) of "6-person Tour Consultant", or download the "6-person Tour" APP in major app stores to customize the tour route for free, or call 400-0 10-6003 to consult the travel consultant for free.

Foreign exchange tips of various countries

Europe and Australia

RMB is not directly convertible in Europe and Australia. Why don't you change it into dollars and then go to the bank or foreign currency point to exchange it?

② Thailand

In Thailand, ATMs or affiliated banks with UnionPay logo can use bank cards to directly withdraw Thai baht. Other ATMs without these two logos can also try. It should be noted that the deposit balance of ATM shows the amount of Thai baht calculated according to the foreign exchange quotation of China UnionPay at that time, not the balance of RMB.

③ Japan

In Japan, the local exchange fee is usually high, so it is best to exchange it at home. In Japan, banks or post offices marked "business" can exchange money. Before trading, confirm the exchange rate and whether there is a handling fee. Moreover, coins with large denominations, such as Japanese yen and Korean won, will not be exchanged if they are not used up when they return to China.

④ Southeast Asia

Generally speaking, RMB can be directly exchanged in Southeast Asia, but there may be more places to exchange dollars. In Southeast Asian countries, there are usually banks, hotels and change shops, and some tour guides also provide currency exchange. The exchange rate is different in different places.