How to exchange RMB for US dollars in the United States?

It is recommended to first exchange into US dollars at home before going abroad. There are few foreign exchange outlets, usually only at the airport.

The domestic exchange method is as follows: Since China has a very strict foreign exchange supervision system, individuals only have an exchange quota of US$50,000 per year, and they cannot exchange it at will.

In July 2018, the strictest foreign exchange regulations in history were implemented, making the exchange process a little more complicated. Formal exchange channels directly use RMB to exchange for U.S. dollars or other foreign currencies, which is called foreign exchange purchase. Within one year, the total amount you can exchange at each bank is limited to 50,000 U.S. dollars. However, when you go to the bank, you will find that you may not be able to directly exchange $50,000 in foreign currency. If the purpose of your redemption is not direct outbound behavior, the amount you can exchange at the bank is 3,000 US dollars each time; if you need to leave the country, but the departure time on your visa is within six months, each person can exchange 3,000 US dollars each time. ; If you leave the country for half a year or more, you can exchange up to 5,000 US dollars in foreign currency each time; to exchange money through formal channels, you need to go to the bank to fill out the "Personal Foreign Exchange Purchase Application". Remember, you need to bring your personal ID card, otherwise the bank will will not be handled.

Cash and non-cash foreign exchange purchases. If it is remittance or non-cash foreign exchange purchase, most bank branches or mobile banking can complete it. If you are buying foreign exchange in cash, the exchange is for U.S. dollars, which can be exchanged at general bank branches; if it is euros, Japanese yen and other currencies, it is best to go to the four major banks to exchange them, because these currencies generally have smaller bank reserves, so choose a major bank to exchange them. Non-USD foreign currencies are more feasible. Please note that the personal exchange limit of US$50,000 is not a unilateral exchange. For example: last month I exchanged RMB for US$10,000, and this month I exchanged the US$10,000 for RMB. In fact, I have The exchange limit of US$20,000 was used. What if the total amount of currency you need to exchange in a year exceeds US$50,000? For example, international students may need more than $50,000 in foreign currency per year. According to national regulations, card swiping and direct overseas cash withdrawals are not subject to the personal exchange limit of 50,000 US dollars. In other words, personal outbound travel, business, study abroad, food, accommodation, travel, purchases and other current transactions can be used. Bank card payment does not occupy the personal convenience annual foreign exchange purchase quota of US$50,000.