How to Convert RMB to USD
If we are a traveler passing through China, getting cash exchanged into RMB is a priority. Note that travelers can only be allowed to carry the equivalent of 5,000
RMB into or out of China. The following question is naturally raised: where to exchange money in China? The three main places to exchange foreign currency in China are the bank, bank ATMs, the airport exchange kiosks and the black market.
The quickest and easiest way to get money in China is to use the China bank ATMs. The exchange rate is good, but there fees, both from the Chinese bank and from the home bank.
Have in mind that the Transferwise and Paypal dont use the RMB, and if you're not Chinese, the Alipay doesn't allow foreign transfers.
About 3 million Chinese people visit the USA per year. The main question for them is: how to exchange RMB for US Dollars in the USA?
The main places to exchange RMB in the USA are international airports across the USA or the bank. Card payments are very commonly used in the USA. There are a couple of restrictions for cardholders:
- Withdrawals are limited to $15,000 (RMB 100,000) per year;
- Card payments cannot exceed 10,000 RMB per day.