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How to Handle Money and Payments While Traveling in China

When traveling to China, one of the most important things to consider is how you will handle payments. While cash is still used, especially in smaller towns or markets, China is one of the leading countries in digital payments, and mobile apps like WeChat Pay and Alipay dominate the financial landscape. This guide will walk you through tips for handling money in China, including cash payments, digital wallets, currency exchange, and using credit cards, to ensure your finances are managed smoothly during your trip.


1. Understanding China’s Currency: The Yuan (CNY)

The official currency of China is the Renminbi (RMB), often referred to as the Yuan (CNY). You will come across bills in denominations of 1, 5, 10, 20, 50, and 100 yuan, and coins in 1, 2, and 5 jiao, which is one-tenth of a yuan.

Tip: Keep small bills handy for purchases at convenience stores, markets, or tips. It’s much easier to pay with smaller denominations as larger bills may not be accepted in some smaller establishments.


2. Cash vs. Digital Payments: Which to Use?

In China, digital payments are the preferred method of transaction, especially in major cities like Beijing, Shanghai, and Guangzhou. Here’s what you need to know:

Digital Payments (Mobile Wallets)

WeChat Pay and Alipay are the two most widely used mobile payment platforms in China. Both apps allow you to pay for goods and services, transfer money, book taxis, and even pay for utilities like electricity bills. To use them, you will need to link a Chinese bank account to your account, but international visitors can also link their foreign credit cards for payments.

WeChat Pay is integrated into the WeChat app, which is widely used for messaging, social media, and payment.

Alipay, operated by Ant Group, is another popular app that you can use for shopping, dining, transportation, and more.

Tip: If you plan to use WeChat Pay or Alipay, it’s a good idea to download the app and set it up before your trip. Some international cards may work, but linking to a Chinese bank account will provide the most flexibility.

Cash Payments

Although digital payments are increasingly common, cash is still important, especially when visiting more remote areas or smaller establishments where mobile payment options might not be available. Many street vendors, traditional markets, and rural areas may not accept mobile payments.

Tip: Always carry some cash with you, particularly if you plan to explore off-the-beaten-path areas or visit local markets.


3. Currency Exchange: Where and How to Exchange Money

When traveling to China, you’ll need to exchange your home currency into Chinese Yuan (CNY). Here's how to do it:

Currency Exchange Before You Arrive

It’s often a good idea to exchange some currency before you arrive in China to cover your immediate expenses, such as transportation or meals.

Tip: Check the exchange rates at your local bank or exchange service for competitive rates. Avoid exchanging large amounts at airports, as rates tend to be less favorable.

Currency Exchange Upon Arrival

Once you’re in China, you can exchange foreign currency at banks, currency exchange kiosks, or ATMs. International airports, major train stations, and shopping centers often have exchange counters.

Tip: Banks generally offer better rates than exchange kiosks or hotels. ATMs are another option, but check the transaction fees your bank may charge for international withdrawals.

Exchanging Cash at Banks

If you’re exchanging cash at a bank, be prepared to show your passport. Most major cities have banks with English-speaking staff. You may also be required to fill out a currency exchange form.

Tip: Avoid exchanging currency at hotels as the exchange rates can be much less favorable.

Use ATMs to Withdraw Cash

You can withdraw cash from ATMs in China using your international bank card. Ensure that your ATM card is Visa or Mastercard compatible, as many machines only accept cards that belong to these networks. Always check the exchange rates and transaction fees before withdrawing.

Tip: Choose ATMs that belong to well-known banks like Bank of China or ICBC to avoid extra fees.


4. Using Credit Cards in China

Credit card usage is becoming more common in China, especially in larger cities and international hotels. However, it’s not as widespread as mobile payments or cash.

What You Need to Know:

Visa and Mastercard are accepted at many hotels, shopping malls, and large retail chains.

American Express and Discover cards are not as commonly accepted, especially in smaller businesses.

UnionPay, a Chinese bankcard system, is widely used throughout China. Some international banks also offer UnionPay cards.

Tip: Always ask in advance if a restaurant or store accepts your credit card. Keep in mind that credit cards are generally not accepted at small shops, street vendors, or traditional markets.

Tip: Consider using Alipay or WeChat Pay for smoother transactions, especially in smaller stores and restaurants.


5. Tipping in China

Tipping is generally not expected in China, and it’s not part of the culture for most services. In restaurants, service charges may be added to the bill, so you don’t need to tip waitstaff. Similarly, hotel staff, taxi drivers, and tour guides typically do not expect tips.

Tip: If you receive exceptional service and wish to tip, it’s always appreciated but not necessary. A small tip of around 10-20 RMB for hotel staff or taxi drivers is enough.


6. Cashless Payments for Transportation

When traveling within China, you can use mobile payment apps to pay for public transportation such as buses, subways, and high-speed trains.

Subway and Public Transport

Most major cities like Beijing, Shanghai, and Guangzhou offer easy access to public transportation via QR codes that can be scanned using WeChat Pay or Alipay. Simply scan the code at the entrance, and the fare will be deducted from your account.

Tip: Download the local metro app for route maps and fare details. You can also get a transportation card (similar to a subway pass) that can be topped up with mobile payments.

DiDi Ride-Hailing App

Similar to Uber, DiDi is China’s popular ride-hailing app. It’s widely accepted across the country and can be used to book taxis and private cars.

Tip: Use DiDi for convenient travel between cities or for short trips around the city. You can link your credit card or use mobile payments for easy checkout.


7. Tips for Safe Money Handling in China

Don’t Carry Too Much Cash: While cash is still important in some situations, it’s safer to carry only what you need for the day. Use your mobile wallet or credit cards for larger purchases.

Keep Your Money Secure: Use a money belt or anti-theft backpack to protect your cash, cards, and passport when walking around busy areas.

Monitor Your Bank Statements: Always check your bank and credit card statements to ensure there are no unexpected charges. If you’re using a foreign card, notify your bank beforehand to avoid any blocks on your account.


How to Handle Money and Payments While Traveling in China

When traveling to China, one of the most important things to consider is how you will handle payments. While cash is still used, especially in smaller towns or markets, China is one of the leading countries in digital payments, and mobile apps like WeChat Pay and Alipay dominate the financial landscape. This guide will walk you through tips for handling money in China, including cash payments, digital wallets, currency exchange, and using credit cards, to ensure your finances are managed smoothly during your trip.


1. Understanding China’s Currency: The Yuan (CNY)

The official currency of China is the Renminbi (RMB), often referred to as the Yuan (CNY). You will come across bills in denominations of 1, 5, 10, 20, 50, and 100 yuan, and coins in 1, 2, and 5 jiao, which is one-tenth of a yuan.

Tip: Keep small bills handy for purchases at convenience stores, markets, or tips. It’s much easier to pay with smaller denominations as larger bills may not be accepted in some smaller establishments.


2. Cash vs. Digital Payments: Which to Use?

In China, digital payments are the preferred method of transaction, especially in major cities like Beijing, Shanghai, and Guangzhou. Here’s what you need to know:

Digital Payments (Mobile Wallets)

WeChat Pay and Alipay are the two most widely used mobile payment platforms in China. Both apps allow you to pay for goods and services, transfer money, book taxis, and even pay for utilities like electricity bills. To use them, you will need to link a Chinese bank account to your account, but international visitors can also link their foreign credit cards for payments.

WeChat Pay is integrated into the WeChat app, which is widely used for messaging, social media, and payment.

Alipay, operated by Ant Group, is another popular app that you can use for shopping, dining, transportation, and more.

Tip: If you plan to use WeChat Pay or Alipay, it’s a good idea to download the app and set it up before your trip. Some international cards may work, but linking to a Chinese bank account will provide the most flexibility.

Cash Payments

Although digital payments are increasingly common, cash is still important, especially when visiting more remote areas or smaller establishments where mobile payment options might not be available. Many street vendors, traditional markets, and rural areas may not accept mobile payments.

Tip: Always carry some cash with you, particularly if you plan to explore off-the-beaten-path areas or visit local markets.


3. Currency Exchange: Where and How to Exchange Money

When traveling to China, you’ll need to exchange your home currency into Chinese Yuan (CNY). Here's how to do it:

Currency Exchange Before You Arrive

It’s often a good idea to exchange some currency before you arrive in China to cover your immediate expenses, such as transportation or meals.

Tip: Check the exchange rates at your local bank or exchange service for competitive rates. Avoid exchanging large amounts at airports, as rates tend to be less favorable.

Currency Exchange Upon Arrival

Once you’re in China, you can exchange foreign currency at banks, currency exchange kiosks, or ATMs. International airports, major train stations, and shopping centers often have exchange counters.

Tip: Banks generally offer better rates than exchange kiosks or hotels. ATMs are another option, but check the transaction fees your bank may charge for international withdrawals.

Exchanging Cash at Banks

If you’re exchanging cash at a bank, be prepared to show your passport. Most major cities have banks with English-speaking staff. You may also be required to fill out a currency exchange form.

Tip: Avoid exchanging currency at hotels as the exchange rates can be much less favorable.

Use ATMs to Withdraw Cash

You can withdraw cash from ATMs in China using your international bank card. Ensure that your ATM card is Visa or Mastercard compatible, as many machines only accept cards that belong to these networks. Always check the exchange rates and transaction fees before withdrawing.

Tip: Choose ATMs that belong to well-known banks like Bank of China or ICBC to avoid extra fees.


4. Using Credit Cards in China

Credit card usage is becoming more common in China, especially in larger cities and international hotels. However, it’s not as widespread as mobile payments or cash.

What You Need to Know:

Visa and Mastercard are accepted at many hotels, shopping malls, and large retail chains.

American Express and Discover cards are not as commonly accepted, especially in smaller businesses.

UnionPay, a Chinese bankcard system, is widely used throughout China. Some international banks also offer UnionPay cards.

Tip: Always ask in advance if a restaurant or store accepts your credit card. Keep in mind that credit cards are generally not accepted at small shops, street vendors, or traditional markets.

Tip: Consider using Alipay or WeChat Pay for smoother transactions, especially in smaller stores and restaurants.


5. Tipping in China

Tipping is generally not expected in China, and it’s not part of the culture for most services. In restaurants, service charges may be added to the bill, so you don’t need to tip waitstaff. Similarly, hotel staff, taxi drivers, and tour guides typically do not expect tips.

Tip: If you receive exceptional service and wish to tip, it’s always appreciated but not necessary. A small tip of around 10-20 RMB for hotel staff or taxi drivers is enough.


6. Cashless Payments for Transportation

When traveling within China, you can use mobile payment apps to pay for public transportation such as buses, subways, and high-speed trains.

Subway and Public Transport

Most major cities like Beijing, Shanghai, and Guangzhou offer easy access to public transportation via QR codes that can be scanned using WeChat Pay or Alipay. Simply scan the code at the entrance, and the fare will be deducted from your account.

Tip: Download the local metro app for route maps and fare details. You can also get a transportation card (similar to a subway pass) that can be topped up with mobile payments.

DiDi Ride-Hailing App

Similar to Uber, DiDi is China’s popular ride-hailing app. It’s widely accepted across the country and can be used to book taxis and private cars.

Tip: Use DiDi for convenient travel between cities or for short trips around the city. You can link your credit card or use mobile payments for easy checkout.


7. Tips for Safe Money Handling in China

Don’t Carry Too Much Cash: While cash is still important in some situations, it’s safer to carry only what you need for the day. Use your mobile wallet or credit cards for larger purchases.

Keep Your Money Secure: Use a money belt or anti-theft backpack to protect your cash, cards, and passport when walking around busy areas.

Monitor Your Bank Statements: Always check your bank and credit card statements to ensure there are no unexpected charges. If you’re using a foreign card, notify your bank beforehand to avoid any blocks on your account.