Foreign exchange is the exchange of RMB and foreign currencies. The foreign exchange handling fee (foreign currency specified in the account) is charged in accordance with the relevant regulations of the international credit card organization, and is generally 1.5% of the transaction amount.

Many people choose to use credit cards to make purchases abroad when traveling abroad. Currently, credit cards issued by most domestic banks can be used overseas, but they generally require fees such as cash withdrawal fees and currency conversion fees. ..Add a service fee of about 1.5%, and then convert the total of these two items into RMB.

Extended information:

Foreign exchange fee refers to the exchange fee between two foreign currencies, such as the U.S. dollar-pound, U.S. dollar-euro, and the U.S. dollar-yen exchange fee. , rather than specifically referring to the exchange between USD and RMB.

How to calculate the foreign exchange fee:

1. I have a RMB-USD dual-currency credit card and need to pay 30 pounds to a British company. Then there are two conversions of "RMB-USD-GBP" during the payment process. Among them, the conversion of "RMB-USD" is carried out directly by most credit cards according to the exchange rate without additional fees, while the conversion of "USD-GBP" is A foreign currency exchange fee will be charged based on the exchange rate.

2. Assume that the exchange rate of USD to RMB is 6:1 and the exchange rate of GBP to USD is 2:1. The foreign currency conversion fee charged by my credit card company is 2%. Then the amount I need to pay in RMB is: 30 * 2 * (1+2%) * 6 = 367.2 yuan.

Classification of China's foreign exchange:

1. According to control

① Spot exchange, the four types of foreign exchange mentioned in China's "Interim Regulations on Foreign Exchange Administration" are all spot exchange. It can be used immediately as a means of payment for international settlement;

② Purchase foreign exchange, a foreign exchange indicator approved by the state that can be used. If you want to exchange the indicator for spot currency, you must use RMB to purchase spot exchange from a designated bank within the indicator limit in accordance with the exchange rate published by the State Administration of Foreign Exchange. The professional term is called foreign exchange purchase, and you must use the foreign exchange purchase function according to the prescribed purpose.

2. According to nature

① Trade foreign exchange comes from exports and payments for imports, as well as ancillary expenses related to import and export trade, such as freight, insurance, samples, publicity, Foreign exchange used for marketing expenses, etc.;

②Non-trade foreign exchange, foreign exchange receipts and payments other than import and export trade, such as overseas remittances, tourism, ports, civil aviation, insurance, banks, foreign contracting projects and other foreign exchange income and expenditures.