I think it would probably be a bank, but I'm not sure. I read online that Bank of China ATMs will convert your currency but at a 25RMB fee. Is this 25RMB flat for however much you withdraw or is it like 25RMB per 100USD you convert?|||The 25RMB fee is for each use of an ATM. If you withdraw cash through the ATM you pay the fee plus your bank will use their exchange rate to covert to your currency. Be aware the charge is PER use so if you want 2000RMB do it as 1 x 2000RMB and not 2 x 1000RMB else you will pay the charges twice.
Merchants bank used to allow 3000RMB per transaction for foreign ATM cards but recently dropped it to 2000RMB, just seems like a scam to make more money to me!
ATM's cannot exchange USD to RMB
To actually convert USD LEGALLY you would have to do it via an authorised location (ie the bank). There are money changers who offer a better rate but operate illegally.|||Just do it at a bank or if you meet some fellow countrymen working in China, ask them if they would exchange with you.
If you exchange with a friend, make sure you use one of those money checking machine in the bank to check for fake.|||The exchange rates across the country whether in banks, airports or hotels are just about the same, if there's any difference it's very minimal. There shouldnt be any fee in most places since the incoming/outgoing rates themselves already a profit.|||I wouldn't exchange money in Mainland China.
It's known fact that you can get fake money from some banks, let alone currency exchange shop. Convert your money before you go to China, use a credit card whenever you can!!|||First choice Bank of China(BOC)
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