FromPoundstoYuan:HowtoExchangeCurrencyinChina
AreyouplanningatriptoChinaandwonderinghowtoexchangeyourBritishpoundsforChineseyuan?Inthisarticle,wewillguideyouthroughtheprocessandgiveyoutipsonhowtogetthebestexchangerate.
WheretoExchangeCurrencyinChina?
WhenitcomestoexchangingcurrencyinChina,youhaveseveraloptions.Oneistodoitattheairportuponarrival,butthisisusuallynotrecommendedastheexchangeratesarenotasgoodasinthecity.Thesecondoptionistoexchangeatbanks,whichusuallyofferbetterrates.MostbanksinChinahaveEnglish-speakingstaffandareequippedwithcurrencyexchangeservices.However,beawarethatsomebanksmaychargeacommissionfeeforexchangingcurrency.
Anotheroptionistousecurrencyexchangeservicesofferedbyhotels,whichisconvenientbutmightnotbethebestdeal.Youcanalsoexchangecurrencyatauthorizedforeignexchangeshops.TheseshopsarelicensedandregulatedbytheChinesegovernment,andyoucanbeassuredthattheratesarefair.However,don'ttruststreetvendorsorunauthorizedexchangeshops,astheymightgiveyoucounterfeitcurrencyoroverchargeyou.
WhentoExchangeCurrencyinChina?
Theexchangeratebetweenpoundsandyuanfluctuateseveryday,soit'sgoodtokeepaneyeontheratebeforeyourtrip.ItmightbehelpfultoexchangeasmallamountofmoneybeforeyouarriveinChina,justincaseyouneedcashrightaway.However,don'texchangeallyourmoneyatonceasyoumightgetabetterratelateronduringyourtrip.
Trytoavoidexchangingcurrencyattouristspotsastheratesmightnotbefavorable.Instead,gotoshoppingmallsorfinancialdistrictswhereforeignexchangeshopsandbanksarelocated.It'salsorecommendedtoexchangeduringweekdaysandbusinesshourswhentheexchangemarketisopen,asratesmightbemorestable.
TipsforGettingtheBestExchangeRateinChina
Exchangeratesvarydependingontheamountofmoneyyouareexchanging.Generally,themoremoneyyouexchange,thebetterrateyouwillget.Somebanksmightofferbetterdealsforfrequenttravelersorforlargesumsofmoney,soit'sworthcheckingwiththembeforehand.
Anothertipistoavoidexchangingcurrencyathotelsorairports.Theseplacesoftenchargeahighercommissionfee,whichmeansyouwillendupwithlessmoney.Also,besuretochecktheexchangerateandmakesurethattherearenohiddenfeesorcharges.
Finally,it'sgoodtohaveamixofcashandcreditcardswhentravelinginChina.Whilemanyshopsandrestaurantsacceptcreditcards,somesmallvendorsmightonlyacceptcash.BesuretonotifyyourbankthatyouwillbetravelingtoChinatoavoidanyunexpectedissueswithyourcreditcards.
Asyoucansee,exchangingpoundsforyuaninChinaisasimpleprocess,butit'simportanttochoosetherightplaceandtimefortheexchange.Byfollowingthetipsandguidelinesoutlinedinthisarticle,youcangetthebestdealandenjoyyourtriptoChinawithease.
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