![]() ![]() Be aware that many credit cards charge a cash advance fee (typically around 3%) for buying currency, so you may have to weigh up the benefits of full financial protection with the extra cost of using a credit card. Section 75 states that your card issuer must refund you in full if you don't receive your order. Credit cardĬredit cards offer full financial protection, and your money is protected by law under Section 75 of the Consumer Credit Act. This isn't a legal right, and a refund isn't guaranteed, but if you make a chargeback request your bank is obliged to try and recover your money. If you pay by debit card and the company goes bust, you can instruct your bank to make a chargeback request to recover your money from the company's bank. Debit cardĭebit cards are the most popular payment method and they offer some financial protection. For this reason, we recommend you pay by debit or credit card wherever possible because they offer more financial protection. If the company goes bust and you've paid by bank transfer, it's unlikely you'll get your money back. Your money is not protected if you pay by bank transfer. We routinely check all the companies that feature in our comparisons to make sure they meet our strict listing criteria, but it's still worth knowing how your money is protected in the unlikely event a company goes bust and you don't receive your order. Sending money to a company you might not have heard of before can be unsettling. 6 During the period of the command economy, the value of the RMB. You don't want to be searching for the nearest currency exchange when you've just landed and you're desperate for a cup of tea - or a cocktail! In 1955, the RMB was revalued at a rate of 10,000 to one, meaning that each yuan in the new series replaced 10,000 old yuan. Lastly, it can be handy to have some cash on you when you arrive at your destination so you can pay for any immediate expenses like food, transport and tips. It can be harder to spot scammers and fraudulent currency exchanges in China.Your bank may charge you a foreign transaction fee if you use it to buy Chinese yuan when you're abroad.You may have to pay commission or other hidden fees to a currency exchange that you wouldn't have paid in the UK.While there may be better exchange rates available in some locations, your options for shopping around may be limited once you arrive, and there's no guarantee the exchange rates will be any better than they are in the UK.Įxchange rates aside, here are some other reasons to avoid buying your Chinese yuan in China: There's no evidence to suggest that you'll get a better deal if you buy your Chinese yuan in China. Just remember to buy or reserve your Chinese yuan first before you collect them from the store so you benefit from the supplier's better online rate. Online travel money suppliers usually have better Chinese yuan rates than high street exchanges, but supermarkets are a good compromise if you want to collect your currency in person and still get a decent rate. If you need your Chinese yuan sooner and don't have time to wait for the rates to improve, you can still save money by comparing rates from a range of different providers before you buy. You could also consider signing up to our newsletter and we'll email the latest rates to you each month. This can be a good way of maximising your holiday money if the exchange rate continues to rise after you've bought, but will also help to minimise your losses if the rate drops. Some people prefer to buy half of their Chinese yuan as soon as they've booked their holiday, and the remaining half just before they depart. For example, if the Chinese yuan rate has been steadily increasing over several weeks or months, it could be a good time to buy while the rate is high. If you have a fixed travel date, you should start to monitor the Chinese yuan rates as soon as possible in the period leading up to your departure so that you've got time to buy when the rate is looking favourable. Timing is key if you want to maximise your Chinese yuan, but the best time to buy will depend on the current market conditions and your personal travel plans. Worst exchange rate of March 2021: 6.4659, Best exchange rate of March 2021: 6.5718, Average exchange rate in March 2021: 6.We found 18 travel money suppliers offering £750 worth of Chinese yuan for delivery and accepting payment by debit card Worst exchange rate of February 2021: 6.4351, Best exchange rate of February 2021: 6.4884, Average exchange rate in February 2021: 6.4643 Worst exchange rate of January 2021: 6.4278, Best exchange rate of January 2021: 6.5332, Average exchange rate in January 2021: 6.4843 US Dollar to Chinese Yuan Monthly Exchange Rates Converting US Dollar (USD) to Chinese Yuan (CNY) in 2021 with the best, worst and average exchange rates of the year Table of 1 US Dollar to Chinese Yuan Exchange Rate: ![]()
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