All kinds of commercial banks approved by the state to engage in foreign exchange business can exchange old coins. After being recovered, the RMB that has stopped circulating can no longer be used for payment, because the RMB that has stopped circulating is no longer legal tender and no longer performs the functions of money.

Bank outlets will deposit the RMB that has stopped circulating in the local people's bank. The People's Bank of China can't pay RMB that has stopped circulating to financial institutions, and financial institutions can't pay RMB that has stopped circulating.