Jiuzhaigou

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Currency Exchange

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Comprehensive Guide to Currency Exchange in Jiuzhaigou, China

Jiuzhaigou, a stunning UNESCO World Heritage Site in Sichuan Province, China, is a popular destination for its breathtaking natural beauty. However, as a relatively remote area, currency exchange options are more limited compared to major cities like Beijing or Chengdu. Below is a detailed guide to help you navigate currency exchange in Jiuzhaigou.

1. Currency in China

  • The official currency of China is the Renminbi (RMB), commonly referred to as the yuan (Β₯) or CNY.
  • Banknotes are available in denominations of Β₯1, Β₯5, Β₯10, Β₯20, Β₯50, and Β₯100. Coins are available in smaller denominations (Β₯1 and jiao, which are fractions of a yuan).

2. Where to Exchange Currency in Jiuzhaigou

Currency exchange options in Jiuzhaigou are limited due to its remote location. Here are the main options:

A. Banks

  1. Bank of China (δΈ­ε›½ι“Άθ‘Œ)

    • The Bank of China is the most reliable option for currency exchange in Jiuzhaigou. It is one of the few banks in China authorized to handle foreign currency exchange.
    • Location: There is a branch in Jiuzhaigou County (Zhangzha Town), which is the main gateway to the Jiuzhaigou Scenic Area.
    • Operating Hours: Typically 9:00 AM to 5:00 PM, Monday to Friday. Some branches may have limited hours on weekends.
    • Procedure:
      • Bring your passport (mandatory for foreign currency exchange).
      • Fill out a currency exchange form provided by the bank.
      • Present your foreign currency (USD, EUR, etc.) in good condition (no tears or marks).
      • The bank will process the exchange and provide you with RMB.
    • Exchange Rates: Rates are set daily by the central bank and are generally competitive.
    • Fees: Banks typically do not charge additional fees for currency exchange, but the rate may include a small margin.

  2. Other Banks:

    • Other banks like Agricultural Bank of China (ABC) or Industrial and Commercial Bank of China (ICBC) may also offer currency exchange services, but their availability for foreign exchange is less consistent in Jiuzhaigou.

B. Hotels

  • Some high-end hotels in Jiuzhaigou, especially those catering to international tourists, may offer currency exchange services at their front desk.
  • Pros:
    • Convenient and quick.
    • No need to visit a bank.
  • Cons:
    • Exchange rates are usually less favorable than banks.
    • Limited to major currencies like USD, EUR, or GBP.
    • May charge a service fee.

C. ATMs

  • Many ATMs in Jiuzhaigou accept international cards (Visa, MasterCard, etc.) and allow you to withdraw RMB directly.
  • Tips for ATM Use:
    • Look for ATMs with the UnionPay (铢联) logo, as they are widely compatible with foreign cards.
    • Check with your home bank for international withdrawal fees and daily limits.
    • Be aware of potential foreign transaction fees (usually 1-3% of the withdrawal amount).
    • ATMs typically offer competitive exchange rates, but they may not dispense small denominations.

D. Currency Exchange at Airports

  • If you are traveling to Jiuzhaigou via Chengdu or another major city, consider exchanging currency at the airport before heading to Jiuzhaigou. Airport exchange counters are convenient but may charge higher fees or offer less favorable rates.

E. Avoid Informal Exchange

  • Avoid exchanging currency with unauthorized individuals or businesses, as this is illegal in China and may result in scams or counterfeit money.

3. Costs Involved

  • Exchange Rate Margins: Banks and ATMs generally offer the best rates, while hotels and airport counters may have higher margins.
  • Service Fees:
    • Banks: Usually no additional fees, but rates may include a small margin.
    • ATMs: Expect a withdrawal fee from both the local ATM operator and your home bank.
    • Hotels: May charge a service fee or offer less favorable rates.
  • Counterfeit Risk: Always exchange currency at official locations to avoid counterfeit notes.

4. Procedures to Follow

  1. At Banks:
    • Bring your passport and foreign currency.
    • Be prepared to wait, as bank queues in smaller towns can be long.
    • Double-check the amount of RMB you receive before leaving the counter.
  2. At ATMs:
    • Insert your card and select the "English" language option if needed.
    • Choose "Withdraw Cash" and enter the amount in RMB.
    • Keep your receipt for reference in case of disputes.
  3. At Hotels:
    • Ask the front desk about exchange rates and fees before proceeding.
    • Confirm the amount of RMB you will receive.

5. Local Considerations and Tips

  • Limited Availability: Jiuzhaigou is a remote area, so currency exchange services may not be as readily available as in major cities. Plan ahead and exchange enough RMB before arriving.
  • Cash is King: While credit cards are accepted at some hotels and larger establishments, most local businesses, restaurants, and shops in Jiuzhaigou only accept cash (RMB).
  • Small Denominations: Carry small bills (Β₯10, Β₯20, Β₯50) for easier transactions, especially in rural areas or at local markets.
  • Language Barrier: Bank staff in Jiuzhaigou may not speak fluent English. It’s helpful to have the name of your currency written in Chinese or use a translation app.
  • Counterfeit Awareness: Familiarize yourself with the appearance of Chinese banknotes to avoid accepting counterfeit money. Look for watermarks and security features.
  • WeChat Pay and Alipay: Mobile payment platforms like WeChat Pay and Alipay are widely used in China, but they require a Chinese bank account. Tourists may not be able to use these services unless they set up a local account.

6. Emergency Tips

  • If you run out of cash and cannot find a currency exchange service, consider using your credit card at larger hotels or tourist shops.
  • Keep the contact information of your home bank handy in case you encounter issues with your card or need to increase your withdrawal limit.

7. Final Recommendations

  • Exchange a sufficient amount of RMB in Chengdu or another major city before traveling to Jiuzhaigou.
  • Use ATMs for additional cash if needed, but be mindful of fees.
  • Always carry your passport when exchanging currency or withdrawing cash.
  • Avoid relying on currency exchange services in Jiuzhaigou during public holidays or weekends, as banks may have reduced hours or be closed.

By planning ahead and following these tips, you can ensure a smooth and hassle-free experience managing your finances in Jiuzhaigou. Enjoy your trip!