Currency Exchange

You can exchange foreign currency for RMB at any bank. The rates do not vary significantly across banks, so there's no need to shop around. You will need your passport. If you need to exchange RMB for foreign currency, this is more complicated and usually means having to provide tax receipts (and sometimes employment contracts) to prove that tax has been paid on the funds prior to exchange. However, if the amount is below US$500 or equivalent in other currencies, you do not need tax receipts.

If you require foreign currency of less common countries, it is very likely the bank will not have the currency in the branch so you may need to book in advance. This also applies if you want to exchange a common currency like British pounds, but require a significantly large amount of notes, especially at smaller bank branches. Of course, if you do not need the physical notes and just want to exchange RMB for foreign currency to transfer overseas, there is no need to book ahead.