Detailed Explanation of ATM Withdrawal Fees and Exchange Rates

1. ATM Withdrawal Fees

When using international bank cards (such as Visa, Mastercard, American Express, etc.) or overseas-issued UnionPay cards to withdraw cash from ATMs in China, withdrawal fees are typically divided into two parts: 1. Issuing Bank Fee
- Charged by your issuing bank; the fee varies depending on the bank (e.g., 1%-3% of the transaction amount, or a flat rate of $3-$5 per transaction). - Some banks offer "global no-fee" services (please confirm beforehand, such as certain premium credit cards or specific partner banks).

1. Local Chinese Bank Fee
2. The ATM operator in China (such as Bank of China, Industrial and Commercial Bank of China, Construction Bank of China, etc.) may charge a fixed fee, usually 10-20 RMB per transaction.
3. UnionPay Network Exception: Some overseas-issued UnionPay cards may waive local fees when withdrawing through China UnionPay network (please confirm with your issuing bank).

Fee-Free Tips:
- Prioritize ATMs of banks that cooperate with your issuing bank (for example, Citibank customers can use Citibank ATMs within China without fees).
- Some regional commercial banks (such as Hua Xia Bank, Ping An Bank) may offer lower or even free withdrawal fees for overseas cards (please check beforehand).

2. Exchange Rate Calculation

1. Source of Exchange Rate
2. The exchange rate is usually determined by the issuing bank, not the ATM's affiliated bank.

3. The issuing bank may use "real-time exchange rate + surcharge" (1%-3%), so please refer to your card’s terms.

4. UnionPay Card Exchange Rate Advantage

5. If using an overseas-issued UnionPay card, the exchange rate is updated daily by UnionPay, which is generally more transparent and has lower surcharges.

6. You can check real-time rates in advance on the UnionPay website (www.unionpayintl.com).

7. Dynamic Currency Conversion (DCC) Trap

8. Some ATMs may prompt you to settle "in your home currency," known as DCC. We do not recommend accepting this, as it often involves poor exchange rates and hidden high fees.
9. Correct Operation: Choose "settle in RMB," which allows your issuing bank to directly convert the amount at a better rate.

3. Practical Suggestions

1. Preparations Before Entry
2. Exchange a small amount of RMB cash (e.g., 200-500 RMB) for transportation and emergencies.

3. Activate the "overseas withdrawal function" for your bank card and confirm the daily limit.

4. Prioritize Using UnionPay Cards

5. Over 90% of ATMs in China support UnionPay cards, with high coverage and lower fees.

6. Choose Partner Banks' ATMs

7. For instance, Citibank, HSBC, and Standard Chartered Bank have ATMs in some cities in China, which may waive local fees.

8. Avoid Small, Frequent Withdrawals

9. Try to withdraw amounts close to the ATM limit (usually up to 5000 RMB per transaction) to reduce the proportion of fees.

10. Be Aware of Withdrawal Limits

11. Regulation in China: Single withdrawal cannot exceed 5000 RMB, daily cumulative withdrawals range from 10,000 to 20,000 RMB (limits vary among different banks).

12. Annual Limit: Total annual withdrawals for personal overseas cards in China cannot exceed 100,000 RMB.

13. Backup Payment Methods

14. We recommend linking Alipay/WeChat Pay (supports international credit cards) to reduce reliance on cash (see subsequent guides).

4. Fee and Exchange Rate Reference Table

5. Emergency Handling

• In case of ATM card swallowing or failed transactions, immediately contact your issuing bank to freeze the account and call the customer service of the local Chinese bank (for example, Bank of China at 95566; English service available).
• Keep withdrawal receipts as evidence.