i2 International Institute of Education


exchange large amount of money

DryAndEasy (12 posts) • 0

I know that this topic was discussed before but right now I need to exchange about 7'000.- Swiss Francs CHF (more than 50'000 RMB).
Right now it is on a banc account of BOC and I live in Dali.

In Dali we don't have a black market for exchange so far as I know.

Any suggestions or advice are very appreciated!

mehnyaa (52 posts) • 0

I know that Bank of China ( larger branch) provides currency exchange facility. May worth checking out your local Bank of China.

no way (104 posts) • 0

you 'should' be able to do this at your bank branch.
you've already got yer furrin' currency held in your
bank account, probably is sub-account #10. they
just need to convert it, and dump it into your rmb
sub-account #00.

take your little yellow bank book into the branch

where you have your account, tell 'em you wanna
change franks to rmb, and to leave it in the account.

lummerlaoshi (130 posts) • 0

From my understanding, you can legally exchange money as a foreigner at about 500rmb per day (you will need your passport for this). If you want to exchange more, faster, you can ask a Chinese friend to help as they can exchange much more via the bank. The quickest way is the black market...PM me for more details if you would want to do that in Kunming.

DanTheMan (601 posts) • 0

Exchanging from foreign currencies to rmb is almost unlimited. Going the other way has historically been a problem, but whatever the restrictions used to be, they've been loosened considerably in recent years.

BOC should be able to help you convert at a fairly reasonable rate. Have you asked them about it?

JJ and Janice (324 posts) • 0

For US$ we are limited to US$50,000. per person per year to change to RMB - - regardless of bank because it goes into computer per your passport #.

DanTheMan (601 posts) • 0

Fair enough, but a lot more than the original poster needed to change, and plenty of ways around it if you're creative.

beizhan (37 posts) • 0

I agree with JJ and Janice: The same goes with Swiss Francs. You can change Swiss Francs worth up to 50'000 USD per year and passport at every BOC bank, also in Dali. Lummerlaoshi is not correct. You can exchange about 5000 USD per day/cash. But that is cash money. If you have the money in your account you can change up to USD 50000.

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