Converting RMB to Japanese Yen, and converting Japanese Yen to RMB, can usually be done through banks, currency exchange institutions or online platforms. The following are several common exchange methods:
1. Bank exchange: In China, most banks provide foreign exchange services, such as Bank of China, Industrial and Commercial Bank of China, China Construction Bank, etc. You can redeem it directly at bank branches or through online banking or mobile banking. The exchange rate of bank exchange is usually relatively stable, but a certain handling fee may be charged.
2. Currency exchange agencies: In some big cities, such as Beijing, Shanghai, Guangzhou and other places, there are many currency exchange agencies providing foreign exchange services. The exchange rates at these institutions may be slightly higher or lower than those at banks, but the exchange flexibility is usually higher and the fees may be lower.
3. Online platforms: Some online platforms, such as Alipay, WeChat, etc., also provide foreign exchange services. The exchange rates of these platforms may change with market fluctuations, but they are easy to operate and you can check the exchange rates and conduct exchanges online in real time.
4. International credit card or bank card: If you shop overseas or online, you can pay with an international credit card or bank card that supports foreign currency payment. This can be settled directly in Japanese yen to avoid exchange rate losses.
It should be noted that exchanging foreign currency needs to comply with the country’s foreign exchange management policy. Individuals have a foreign exchange quota equivalent to US$50,000 per year. If you need to exchange a large amount, you may need to make an appointment at the bank in advance.
In China, the exchange of Japanese yen cash usually needs to be done through a bank or currency exchange agency. You can bring your identity document and relevant information to the above-mentioned institutions for redemption. Before exchanging, it is best to check the Japanese yen exchange rate on the day in order to get the best exchange price.