Say Goodbye to Bank Queues: Latest 2025 Bank of China App Guide for Converting Cash to Exchange

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Do you have some foreign currency cash in hand but find it cannot be directly used for online payments or cross-border remittances? You can now easily complete the Bank of China cash-to-exchange conversion through the mobile banking app without visiting a branch.

Operation Tip: This guide is designed specifically for beginners. You will learn how to use the mobile app to turn your foreign currency cash into electronic foreign exchange that can be used anytime, saving valuable time.

Key Takeaways

• The Bank of China app can help you convert foreign currency cash to exchange without visiting a bank branch.
• You need to update the Bank of China app and have a multi-currency current account.
• Cash-to-exchange conversion has no direct fee, but the bank charges through the buy-sell spread.
• In the app, you can find the “Cash-Exchange Conversion” function under “Cross-Border Finance,” then enter the amount to complete the operation.
• After converting cash to exchange, you can perform cross-border remittances, overseas online payments, and purchase foreign currency wealth management products.

Preparation Before Cash-to-Exchange Operation

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Before starting the operation, spend a few minutes completing the following preparations to ensure the entire process is smoother. This is as important as checking your passport and luggage before traveling.

Check Account and App Version

First, make sure you have the following two items ready:

• Latest Bank of China App: Go to the app store and update your mobile banking app to the latest version for the most complete features.
• Valid Foreign Currency Account: You need to have a multi-currency current account at Bank of China with foreign currency cash deposits you wish to convert.

Understand the Difference Between Cash and Exchange

To operate successfully, you first need to understand the fundamental difference between “cash” and “exchange.”

Core Concept: Physical vs. Electronic

• Cash: Refers to physical foreign currency banknotes you deposit at the bank. The bank bears physical costs like transportation, storage, and anti-counterfeiting.
• Exchange: Refers to electronic foreign currency, usually remitted directly from abroad. It is just a digital record with no physical costs.

Due to additional handling costs for cash, the price the bank offers when buying back (cash buying rate) is usually lower than the exchange rate.

Check Fees and Real-Time Rates

When performing Bank of China cash-to-exchange conversion, the bank does not directly charge a “fee” but realizes it through the rate spread. This process can be broken down into two steps:

1. The bank first buys your foreign currency cash at the “cash buying rate,” converting it to RMB.
2. The bank then sells equivalent RMB at the “foreign exchange selling rate” to convert it back to foreign currency exchange for you.

You can clearly see the “cash buying rate” and “exchange buying rate” for different currencies on the “Settlement/Purchase” or “Foreign Exchange Rates” page in the Bank of China app; the difference between them is the main cost of this conversion.

Additionally, the bank may set minimum fees for certain transactions. The following is an example fee structure; please refer to what is displayed in the app.

Before confirming the conversion, the system will clearly display all fees and the final exchange amount receivable; please carefully verify.

Bank of China Cash-to-Exchange: Detailed App Operation Guide

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With preparations complete, now pick up your phone and follow us into the actual operation. The entire process is very intuitive and takes only a few minutes.

Enter the “Cross-Border Finance” Zone

The first step is to find the dedicated area for handling foreign exchange business.

1. Open the Bank of China Mobile App: Launch the app on your phone and log in to your account.
2. Find the “Cross-Border Finance” Entrance: You can usually find the “Cross-Border Finance” option in the core function area on the app homepage. If not directly displayed on the homepage, click “More” to expand all functions and search there.

Operation Tip The app interface layout may change with version updates. If you cannot find “Cross-Border Finance,” try directly searching “cross-border” in the top search bar; this is the quickest way to locate it.

Locate the “Cash-Exchange Conversion” Function

After entering the “Cross-Border Finance” zone, you will see a series of foreign exchange-related services. Our goal is to find “Cash-Exchange Conversion.”

• On the “Cross-Border Finance” page, carefully browse to find the function named “Cash-Exchange Conversion.”
• In some app versions, this function may be categorized under the “Settlement/Purchase” main menu. You can first click “Settlement/Purchase,” then select “Cash-Exchange Conversion” from the submenu.

This function is specifically designed for performing Bank of China cash-to-exchange operations.

Enter Amount and Complete Conversion

This is the core step of the entire process. You will enter the amount and confirm the transaction here.

1. Select Account and Currency: The system will automatically list your foreign currency cash accounts. You need to select the one you want to convert, such as your USD cash account.
2. Enter Conversion Amount: In the amount field, enter the cash amount you wish to convert, such as 1,000 USD.

Important: Must Verify Before Confirming After entering the amount, the system will automatically calculate and clearly display all key information. You will see:

• Expected Exchange Receivable: The system calculates approximately how much foreign currency exchange you will receive based on real-time rates.
• Rate Spread: The system lists the “cash buying rate” and “foreign exchange selling rate” involved, letting you understand the cost composition.
• Other Fees: If there are minimum handling fees, etc., they will also be displayed here.

Please carefully read all numbers on the screen, confirm accuracy, then enter the transaction password or use fingerprint/face recognition to complete the final step of Bank of China cash-to-exchange.

Verify Account Balance Changes

After successful operation, the last step is to verify if your account funds have been correctly converted.

• Return to the app homepage, click “Account Management” or directly view your total assets.
• Enter your foreign currency current account details page.

You should observe changes in the nature of funds in the account. A successful conversion will be reflected in:

Seeing the cash balance decrease and exchange balance increase accordingly means you have successfully turned physical banknote deposits into electronic foreign exchange usable for online payments and remittances.

Common Application Scenarios for Cash-to-Exchange

After successfully converting foreign currency cash to exchange, you unlock many online financial functions. This electronic foreign currency has far wider uses than physical banknotes. Here are three most common application scenarios for you.

For Cross-Border Remittances

After completing the conversion, the most direct use of this exchange funds is remitting to regions outside mainland China. Whether paying children’s study abroad tuition or remitting to overseas relatives, exchange accounts must be used. The bank’s online remittance system cannot directly deduct from your cash deposits.

Fee Reminder Cross-border remittances incur fees. To give you an idea of potential fees, for example, handling overseas remittances through bank online channels may charge a base fee of about 65 HKD. Since remittances usually go through the SWIFT network, intermediary bank fees may also apply.

For Overseas Online Payments

Do you want to shop on US e-commerce sites? After completing Bank of China cash-to-exchange, you can link your multi-currency credit or debit card to your foreign currency exchange account. When making online purchases, the bank directly deducts from your exchange balance, avoiding extra RMB purchase steps and potential exchange rate losses. For example, a 100 USD online purchase deducts directly from your USD exchange account.

For Purchasing Foreign Currency Wealth Management

If you plan to invest in overseas markets, exchange is essential. For example, if you intend to buy stocks or funds listed in the US, you need to first remit funds to your overseas securities account. This process also requires using exchange.

• Step 1: Convert your foreign currency cash to exchange.
• Step 2: Remit exchange funds to your overseas broker account via mobile banking.
• Step 3: Use these funds for investment trading on the broker platform.

Without exchange, your foreign currency assets cannot participate in global capital markets.

Overview of Other Cash-to-Exchange Channels

Although the mobile app is currently the most efficient choice, understanding other available channels can prepare you for contingencies. Here are several traditional cash-to-exchange methods; you can choose based on your situation.

Self-Service Terminal Operation

If you happen to be near a bank branch or designated location, self-service terminals offer a physical operation option without queuing.

• Find Foreign Currency ATMs: Some banks, especially in regions like Hong Kong, have dedicated foreign currency ATMs.
• Support Multiple Currencies: These machines usually support withdrawing major currencies like USD, EUR.
• Operation Method: You can directly withdraw foreign currency from multi-currency accounts or exchange and withdraw using local currency account at real-time rates.

Applicable Scenario This method suits users needing immediate small amounts of foreign currency cash. However, machine locations are limited; you need to check the bank website for specific locations in advance.

Online Banking Channel

For users accustomed to computer operations, online banking provides a comprehensive platform. Its interface is usually wider than the mobile app, displaying more information.

Studies show some users find online banking features more complete than mobile apps, especially for complex business. However, most users prefer mobile apps’ intuitive experience and quick operations, such as quick balance checks or bill payments. Online banking operations may involve more steps, requiring login to the website and browsing multiple menus.

Telephone Banking Small Amount Service

Telephone banking is a completely screen-independent traditional service channel. You just call the bank’s customer service hotline, pass identity verification, and customer service can assist with small-amount fund conversions.

This method suits those unfamiliar with smartphones or when unable to access the internet. But its disadvantages are obvious:

• Lower Efficiency: The entire process requires human communication, taking longer.
• Amount Limits: Usually only supports small-amount conversion requests.
• No Preview: You cannot intuitively see rates and fee details like in the app.

In summary, although multiple channels exist, the mobile app has unparalleled advantages in convenience, transparency, and operation efficiency.

You have mastered the three core steps for completing cash-to-exchange via the Bank of China app: pre-operation preparation, executing conversion, and verifying balance.

Compared to self-service terminals or online banking, the mobile app lets you operate anytime anywhere, truly realizing mobile financial services.

Now open your app and personally experience the convenience brought by digital finance.

Frequently Asked Questions

Here, we have compiled some of the most common questions encountered when performing Bank of China cash-to-exchange operations to clear your final doubts.

Is There a Fee for Conversion?

The bank does not directly charge a “fee.” Your cost mainly comes from the spread between “cash buying rate” and “foreign exchange selling rate.” For small amounts, there may be a minimum fee, such as 15 USD. Please carefully verify the details displayed in the app before confirming.

Is There an Amount Limit for Cash-to-Exchange?

Yes, there are limits. According to mainland China’s foreign exchange management regulations, individuals have an annual settlement/purchase quota. Single transaction limits are subject to app prompts. Transactions exceeding limits cannot be completed.

Can I Convert All Types of Foreign Currency?

No. The app only supports conversion for some major currencies, such as USD, EUR. You can view the supported currency list on the “Cash-Exchange Conversion” function page. If your currency is not on the list, it cannot be operated through the app.

What If the Conversion Fails?

Please Check the Following First:

1. Whether network connection is stable.
2. Whether entered transaction password is correct.
3. Whether conversion amount exceeds daily or annual limit.

If the issue persists, your funds will safely remain in the original account; please contact bank customer service for assistance.