How to express the renminbi? What are the exchange channels?

In the UK, when it comes to exchange, international students are really a very large group with a demand for exchange.

In fact, there are many ways to exchange foreign exchange. Today, I 'd like to show you how to exchange foreign exchange.

Renminbi for sterling

01 Foreign exchange purchases by banks in China

i. Cash

domestic residents studying abroad can go to the bank to apply for foreign exchange purchase, then each person has a foreign exchange quota of 50000 US dollars per year.

Small partners who need exchange service can call the bank to make an appointment before going.

After carrying an ID card, you can go to the four major domestic banks for foreign currency exchange, and you can take a part of the pound cash and carry it with you to deal with the problem of no bank card when you first arrive in the UK.

Of course, when carrying cash through customs, you should be careful not to carry more than 5000 US dollars in cash.

II. Wire Transfer

this method is suitable for children's shoes who already have British bank cards.

We can purchase foreign exchange directly on the app of various banks.

Remember to choose cash, then choose the amount that needs to be exchanged to make a purchase, and then make an international transfer.

Just fill in the corresponding bank card information as required. Of course, it should be noted that the bank will charge a certain fee.

III. Ticket Exchange

A promissory note for foreign exchange at a domestic bank.

The handling fee is very cheap and needs to be taken out of the country by the purchaser himself, but it needs to be kept well and beware of loss.

02 All-currency credit card

you can deposit pounds directly to your credit card and make direct purchases or withdrawals abroad.

Smaller international students can apply for their parents' supplementary cards, and there is no handling fee for international card consumption.

03 UnionPay cash withdrawal

ATM machines with UnionPay logo can be found in some cities in the UK, which can be used for direct cash withdrawal.

Except for the unfriendly exchange rate, this part is not included in the 50000 dollar limit.

However, the equivalent foreign currency of more than 10,000 RMB cannot be withdrawn every day, with a limit of 100,000 RMB a year.

04 Alipay Exchange

alipay can also exchange foreign currency, and mobile phone order outlets to take, very convenient.

Sterling for Renminbi

01 Wire Transfer

wire transfer requires a bank account already opened in the UK and the remittance information is filled in English.

SWIFT Code for domestic bank accounts is required.

The disadvantage of wire transfer is that the handling fee is very high.

02 Exchange Platform

now there are some exchange artifacts on the Internet, such as transferwise and remoly.

transferwise uses the invitation link to register 500 pounds before it can be exempted from handling fees, and the exchange rate can be the same as that of the Bank of China, which is very useful.

remitly has the function of transferring money immediately and arriving in two hours. The exchange rate of transferring money immediately will be lower, so it is also very cost-effective to arrive in two hours without rushing.

03 Exchange Agency

exchange institutions such as "Travelex" and "Euro Change" need to make an appointment in advance and can only exchange cash.

When the exchange rate is not good, the process is cumbersome and there is no guarantee that the exchange rate can be exchanged for RMB.

Therefore, if there is no other method, this method is not recommended.

Special reminder

everyone must pay attention to never make private exchange in WeChat group.

This is not only unsafe, but may even involve violations of relevant provisions.

Don't blindly pursue exchange rate cost-effective, or through formal channels to exchange foreign exchange purchase.

In fact, we have other ways to exchange foreign exchange, and you can also talk about our customer service privately for more information ~

author: YOYO

source: Details of the United Kingdom (ID:UKtalk)

unauthorized reprinting is prohibited.

References:

https://www.liuxuesenginuk.com/lifeinuk/331