At present, there are two main ways to exchange RMB into USD. One is to exchange foreign exchange through banks, and the other is to exchange foreign exchange through the Internet exchange platform.
The advantage of bank exchange is that the service is more comprehensive, which can be converted into full face value and small change, and can be deposited into the account or withdrawn foreign exchange cash.
The advantages of the Internet platform are convenience, long service time, a variety of payment options, and often some preferential activities.
1. Exchange money in banks. At present, most banks can exchange money either at bank branches or on mobile banking apps.
Agricultural Bank of China Beijing branch customer manager told reporters that to go to the bank branch for the need to carry bank cards, ID cards and other documents, in the individual annual facilitation amount can be directly handled.
Reservations are required for small change.
Individuals MAY deposit foreign exchange in their own territory, remit it abroad, or withdraw foreign currency in cash.
The operation of foreign exchange exchange in the mobile banking app is also not complicated. Customers only need to fill in the Application Form for Individual foreign Exchange Purchase, which includes information such as the expected time of foreign exchange purchase, purpose of foreign exchange purchase, destination country, and expected length of stay to apply for foreign exchange purchase.
Optional currencies include ¡¢¡¢¡¢¡¢ and other major, real-time reference is displayed on the mobile phone.
However, only business within the annual total amount can be handled on the mobile banking app, and those exceeding the amount need to be handled at the branch.
2. Exchange money on the Internet platform. Take Ctrip as an example, the exchange process only needs three steps: fill in the order, pay online and get money at the network.
Consumers can choose the city and outlet of cash withdrawal, time of cash withdrawal, input the amount of foreign currency to be exchanged, and complete the payment, then they can get cash at the designated place. The payment method can be deposit card, wechat Pay or Alipay.
However, on Ctrip, you can only withdraw foreign currency in cash, not deposit it directly into a bank account.
Ctrip only provides 100 denomination foreign currency exchange, not small denomination change exchange. Ctrip also provides tip packets and coin wallets, but they are not converted at the market rate. Instead, they are priced separately and sold as a package. For example, a US dollar tip packet containing 12 US $1 notes is priced at 95 yuan, which is equivalent to 86 yuan at present.
In addition, Ctrip can only provide foreign exchange services within the $50,000 facilitation limit, and can only go to the bank branch for more than the limit.
In addition, Ctrip’s customer service said that if you want to exchange money within two days, you will have to pay an expediting fee of 15 yuan, and the exchange rate for expediting orders will also be relatively flexible.
For example, on the day of your reservation on Ctrip, the exchange rate was around 7.22, while today’s RMB pair was 7.07, and the selling price of each banknote was around 7.14-7.15.
Consumers should pay attention to the fact that they should choose individual local and foreign currency exchange franchise business operators to exchange foreign exchange on the Internet platform.
The Fed on Wednesday will signal a rate hike in March and start reducing its balance sheet later to help fight inflation.
Please pay attention to the specific operation, the market is changing rapidly, investment needs to be cautious, the operation strategy is for reference only.