Foreign Currency

Banks make currency exchange, card use easier for foreign visitors


Domestic banks are gearing up to provide better service on currency exchange and transactions using foreign cards, as more and more foreigners visit Shanghai.

The Shanghai Pudong Development Bank (SPDB) has expanded its exchangeable currencies from nine to 21.

Currently, the bank has a total of 163 foreign currency exchange sites in the city.

During major events such as the China International Import Expo, service hours are extended, with over 50 foreign currency exchange machines deployed in key areas such as bank outlets, transportation hubs, and hotels.

As of the end of February, the bank had deployed 883 POS machines accepting foreign cards, leading all of Shanghai’s joint-stock commercial banks.

The bank has optimized its online foreign currency exchange system and developed online appointment and pre-processing services as well.

Since November last year, the bank has actively implemented and gradually expanded “change wallet” services to all branches in the city, allowing people to get small-amount bills.

To better meet the cash withdrawal needs of inbound visitors and the elderly, it upgraded its ATM machines to dispense 10-yuan bills.

Currently, 14 machines have been upgraded at the city’s two major airports, as well as major business areas such as Lujiazui, the Bund, and Nanjing Road E.

The bank plans to upgrade 24-hour ATM machines in 12 key commercial areas, 4A-level and above tourist attractions and starred hotels.

Meanwhile, to meet foreigners’ needs for foreign currency exchange and cash payments, the Shanghai branch of China Merchants Bank has opened foreign currency exchange services at over 100 outlets across the city.

Their ATM machines also support foreigners to withdraw Chinese yuan using Visa or Mastercard.

Additionally, the bank plans to upgrade the machines in multiple business areas to dispense small-amount bills.

The bank also has introduced the “change wallet” service.

The bank supports expats in China to open accounts using passports, permanent residence identity cards, and other identity documents.

At outlets visited by more foreign customers, the bank has arranged staff that can speak foreign languages to ensure smooth communication in service.



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