BANKING

Bank Account
Bank of China offers better exchange rate than most other banks.

However, if your course is funded by the Chinese government, they may ask you to have an account in the bank they nominated.

Visit bank branch to open an account. Show them your passport and fill application forms. Set PIN for your Netbank and your Debt card.

They may ask you to provide your cell phone number to set your PIN so it is better to have a Chinese number before you visit the bank.

You need to use cash to pay many kind fees to University, You can withdraw cash after you convert your foreign currency to CNY.

Setting Up a Bank Account

It is required that you present your passport to the bank staffs when you open a bank account /and when you exchange currencies. In addition to that, remember to apply or ask for a UnionPay Card.

The UnionPay Card functions as a Debit Card. It enables you to transfer money from your saving/checking account directly to the recipient’s account and it is commonly used in China.

Students are recommended to open a bank account first, convert foreign currencies into RMB, and then make your tuition payment to your university via Bank Card. (Some University do not accept card but cash only, ask them to confirm.)

▼ Foreign currencies are not acceptable in China. ▲

Exchange rates

USD to CNY
EUR to CNY
GBP to CNY
AUD to CNY
MYR to CNY  (Ringgit Malaysia)
TRY to CNY   (Yeni Türk Liras)

CNY to KRW   (대한민국 원)
CNY to THB    (บาทไทย)

CNY to RUB   (Российский рубль)
CNY to INR    (रुपया)
CNY to IDR    (Rupiah Indonesia)
CNY to JPY     (日本円)


CNY to *PKR (Pakistani rupee پاکستانی روپیہ )

▼ Chinese banks do not accept this currency, please convert it to CNY, USD or EUR before your departure. ▲


CNY to *KZT (Қазақстан теңгесі)

▼ Chinese banks do not accept this currency, please convert it to CNY, USD or EUR before your departure. In some Chinese region like Xinjiang, KZT is accepted in banks. ▲


CNY to *VND (đồng)

▼ Chinese banks do not accept this currency, please convert it to CNY, USD or EUR before your departure. ▲