The foreign exchange quotations of China banking institutions are generally divided into four categories: foreign exchange purchase (that is, cash purchase, the same below), foreign exchange sale, banknote purchase and banknote sale, all of which have different values. The buying price of foreign exchange (paper money) is the price that the bank buys foreign exchange (paper money) from you, and the selling price of foreign exchange (paper money) is the price that the bank sells foreign exchange (paper money) to you.

Less RMB is exchanged in cash than in cash. Mainly because the operating costs of banks are different. When you sell cash (a foreign exchange payment bill, equivalent to foreign exchange deposit) to a bank, you sell your foreign exchange deposit in a foreign bank to a bank. This foreign exchange deposit is transferred from your name to the bank's name from the moment you sell it to the bank, and the bank can charge interest immediately.

Extended data:

If the accumulated foreign exchange in the foreign exchange savings account on the day of remittance abroad is less than $50,000 (inclusive), I will go to the bank with my valid identity certificate; If it exceeds the above amount, it shall be handled with the authenticity certificate of the transaction amount under the current account.

Hand-held foreign currency cash with a cumulative equivalent of less than $654.38 million on the remittance day shall be handled at the bank with my valid identity certificate; If the amount exceeds the above amount, it shall be handled by the authenticity certificate of the transaction amount under the current account, the Declaration Form for Luggage and Articles of Inbound Passengers in People's Republic of China (PRC) and China Customs signed by the customs, or the foreign currency cash withdrawal certificate of my original bank.

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