Banks and Money Changers with Best Exchange Rates in Beijing

Beijing Travel Guides / March 21, 2017
Banks and Money Changers with Best Exchange Rates in Beijing

The currency used in China is the Renminbi (RMB). It is also known as Chinese Yuan (CNY). You will often hear the term “kuai”, which is the word used by locals to refer to their money.

RMB banknotes are issued in 100, 50, 20, 10, 5, and 2 yuan. There are also notes and coins for 1, 0.50, 0.20, and 0.10 yuan.

Currency exchange in mainland China is highly regulated by the government. As such, the safest place to exchange your money is at a bank.

Exchange rates are set by the government so you’ll get the same rate at any bank in China. Banks also accept traveler’s cheques.

If you want a faster transaction, you can withdraw local currency from the ATM that has the same rates as bank. Just check first with your bank about overseas transaction charges.

There are not many money exchange shops in Beijing. Perhaps this is because of strict government laws and the stiff competition they face from Chinese banks.

Read on for more information about recommended money changers in Beijing. These shops are easy to locate and are situated near accessible landmarks. Bank branches near tourist areas are also included for your convenience.

Please be remembered to bring your passport or valid ID since it is required for money exchange transactions.

1. Bank Branches near Tourist Areas in Beijing

Bank Branches near Tourist Areas in Beijing Image credit: Max12Max

Some travelers in China prefer to exchange currency at Chinese banks because they offer better rates than independent money changers. This is due to the strict regulations of the Chinese government.

If you don’t mind filling up some forms and waiting for your turn to engage service, check out branches of major banks like Bank of China, Bank of Beijing, and China Construction Bank.

Below is a list of reputable banks that you can find near popular tourist spots in Beijing like the Forbidden City, Tiananmen Square, and Temple of Heaven.

Recommended bank branches in the vicinity of Forbidden City
1) Bank of Beijing near the Forbidden City
– This is located at the eastern side if the Forbidden City
– Address: 97 Beiheyan St, Dongcheng Qu, Beijing, China
– Phone: +86 010-65220219
– Opening hours: Daily 09:00 – 17:00

2) China Construction Bank near the Forbidden City
– This is located at the eastern side if the Forbidden City
– Address: 9 Shuaifuyuan Hutong, DongDan, Dongcheng Qu, Beijing, China
– Phone: +86 010-65228396
– Opening hours: Daily 09:00 – 17:00

Recommended bank branches in the vicinity of Tiananmen Square
1) Bank of China near Tiananmen Square
– This is just 1 minute on foot to the west of Mao Zedong Mausoleum
– Address: 17 Xijiaomin Alley, Xicheng Qu, Beijing, China
– Phone: +86 010-66036020
– Opening hours: Daily 09:00 – 17:00*
Daily rates

2) Bank of Beijing near Tiananmen Square
– This is 7 minutes to the south of Mao Zedong Mausoleum
– Address: Qianmen West Heyan St., Xicheng Qu, Beijing, China
– Phone: +86 010- 63012115
– Opening hours: Daily 09:00 – 17:00*

Recommended bank branches in the vicinity of Temple of Heaven
1) Bank of China near Temple of Heaven
– This is on the north side of Temple of Heaven Park
– Address: Ciqikou Street, Dongcheng District, Beijing, China
– Phone: +86 95566 (Hotline)
– Opening hours: Daily 09:00 – 17:00*

2) Bank of Communications near Temple of Heaven
– This is on the eastern side of Temple of Heaven Park
– Address: 12 Tiantan Road, Dongcheng District, Beijing, China
– Phone: +86 010-67197195
– Opening hours: Daily 09:00 – 17:00*

* Opening hours might differ, so it is best to call the branch before visiting.

2. United Money in Beijing

United Money in Beijing Image credit: United Money

United Money is a Beijing-based currency exchange company that was established in 2006. It is duly registered foreign exchange business with the People’s Bank of China.

United Money has branches in 8 cities in mainland China. 4 of them are located in Beijing plus 4 outlets at Beijing Capital International Airport.

United Money accepts the following currencies: USD, GBP, CHF, SGD, DKK, HKD, AUD, CAD, EUR, JPY, KRW, MOP, NOK, INR, PHP, SEK, THB, IDR, MYR, and AED.

Branches
1) United Money @ Yabao Road
– This is just 6 minutes on foot to the west of the Temple of the Sun
– Address: 5F Geely Bldg., 1000 Yabao Road, Chaoyang District, Beijing, China
– Phone: +86 010-85621999
– Opening hours: Daily 09:00 – 20:00

2) United Money @ Fangyuan South Street
– This is located on the north side of Bahe River, 2 minutes on foot from Hanting Hotel
– Address: 9F Building 6, 106 Fangyuan South Street, Chaoyang District, Beijing, China
– Phone: +86 010-53341561
– Opening hours: Daily 09:00 – 18:00

3) United Money @ Guangqu Road
– This is just 2 minutes on foot from Baiziwan Metro Station
– Address: District 301, 106A Guangqu Road, Chaoyang District, Beijing, China
– Phone: +86 010-53389263
– Opening hours: Daily 09:00 – 18:00

4) United Money @ Shifuying Road
– This is 7 minutes on foot from Shilipu Station Exit A
– Address: Building 8, 129 Shifuying Road, Chaoyang District, Beijing, China
– Phone: +86 010-53389261
– Opening hours: Daily 09:00 – 18:00

5) United Money @ Beijing Capital International Airport
– Address: Y117C Arrival Area, Capital Airport Terminal 1, Beijing, China
– Phone: +86 010-64588498
– Opening hours: 24 hours

6) United Money @ Beijing Capital International Airport Terminal 3
– Address: B2E12 International Departure Area, Capital Airport Terminal 3, Beijing, China
– Phone: +86 010-64532686
– Opening hours: 24 hours

Note: Click here to see United Money’s online rates.

3. Geoswift in Beijing

Geoswift in Beijing Image credit: Geoswift

Geoswift is a leading company for global payment services in China. It operates in other major cities around the world like Shanghai, London, Vancouver, Seattle and San Francisco.

Geoswift offers currency exchange services in 18 branches in China. 4 branches are located in Beijing.

If you are visiting Temple of Heaven Park, you can exchange your money by making a quick stop at the Geoswift branch along Tiantan Road.

Branches
1) Geoswift @ Dongzhimen South Street
– This is just a 3-minute walk from Dongzhimen Metro Station Exit D
– Address: 1F CYTS Building, No. 5 Dongzhimen South Street, Beijing, China
– Phone: +86 010-58156086
– Opening hours: Daily 09:00 – 18:00

2) Geoswift @ Dongzhimen South Street
– This is just 1 minute on foot from Yonganli Metro Station Exit A1
– Address: C6-001, Xiushui Street Market, No. 8 North Xiushui Street, Chaoyang District, Beijing, China
– Phone: +86 010-85728118
– Opening hours: Daily 10:00 – 20:00

3) Geoswift @ Tiantan Road
– This is in the vicinity of the Temple of Heaven Park
– Address: Room 198, Floor 1, No. 46 Tiantan Road, Dongcheng District, Beijing, China
– Phone: +86 010-67186068
– Opening hours: Daily 09:30 – 19:00

4. Tianjin Bohai Transforex Currency Exchange

Tianjin Bohai Transforex Currency Exchange

Tianjin Bohai Transforex Currency Exchange is a duly registered currency exchange company that was established in 2012. It is recognized as the first non-financial institution to venture into the currency exchange business in China.

The company has more than 20 branches across China. 2 branches are located in Beijing including one outlet at Beijing Capital International Airport.

Tianjin Bohai Transforex Currency Exchange accepts the following currencies: USD, CAD, JPY, EUR, INR, THB, HKD, AUD, CHF, GBP, and KRW.

To check its daily rates, follow this link.

Branches
1) Transforex @ Jin Tong West Road
– This is located across World Trade Commercial Building
– Address: Ocean International Guanghua AB Block 28, Jin Tong West Road, Chaoyang District, Beijing
– Phone: +86 010-57732267
– Opening hours: Daily 09:00 – 18:00

2) Transforex @ Beijing Capital International Airport
– Address: T3 International Exit B Beijing Capital International Airport, Beijing
– Phone: +86 010-64532599
– Opening hours: 24 hours

5. Reputable Money Changers at Beijing Capital International Airport

Reputable Money Changers at Beijing Capital International Airport Image credit: ymgerman

You are always recommended to buy some CNY when you arrives at the airport, so you can have local cash to pay for transport and food on your first day in Beijing.

Below is a list of reputable money changers that you can find at Beijing Capital International Airport.

1) International Currency Exchange @ Terminal 2
– Address: Gate 5 T2 International Arrivals, Beijing Capital International Airport, Beijing, China
– Phone: +86 010-64594292
– Opening hours: 24 hours

2) International Currency Exchange @ Terminal 3
– Address: International Baggage Claim Hall, C2 Floor, T3 Beijing Capital International Airport, Beijing, China
– Phone: +86 010- 64532599
– Opening hours: Daily 06:30 – 23:30

3) Travelex @ Terminal 2
– Address: T2 International Departures, Beijing Capital International Airport, Beijing, China
– Phone: +86 1380 1010 984
– Opening hours: 24 hours