Personal Money Transfers

Personal and Private Money Transfers payments over £5000.

Business Money Transfers

Make currency exchange payments for your business. Better rates than a bank.

Banking Exchange Rates

High St Banks or Currency Brokers? Cheapest way to send money overseas.

Cheapest Way to Transfer

Cheapest Way to Transfer Funds Internationally secure and safe transfers

China Bank Exchange Rates for International Business & Personal

Bank of China

Bank of China

Minimum Transfer
Max Transfer Fee
Margin Rate
Rate Per Single Unit
5000 GBP
gets you
FCA Regulated
£5000
25
5%
1.118
5,592.18 EUR
FCA Regulated

Quick Quote

Bank of China bank exchange rates. The Bank of China is not a smaller mortgage lender at all, and they are in fact the third largest bank in the world however they only make up a small proportion of the mortgage lending markets within Britain at present. They are very new to the UK to have only been in the UK mortgage market since 2009.

The lender came into the British mortgage markets with a very tight and strict set of lending criteria that they did not budge from. This was because they wanted to keep the numbers level and keep quality in tight reins. With only four brokers representing them in England, the lender, of course, sits in the background.

Most of the customers who have mortgage contracts with the Bank of China made up of Chinese food outlets. And takeaways as you would imagine, and this confirmed by the lender on their internet site. They are however still also lending to other types of businesses throughout the country.

The maximum loan to value from the Bank of China would appear to be around the 70% mark, but of course, as with any lender this is on a case by case basis and also depends on the amount borrowed. Loans below £150,000 appear to be offered on a 70% LTV basis. While those £150-£500,000 appear to be mostly on a 65% LTV.

Bank of China Exchange Rates

It appears that the Bank of China usually opt for a set 15-year commercial mortgage term and they always operate on capital and interest only basis with no interest only available to customers, similar to other commercial mortgage lenders today.

Commercial mortgage seekers that apply to the Bank of China for their loan have to visit one of the four brokers in the UK to have their application processed as part of the lender's standard procedure.

There aren't any set interest rates for commercial mortgages per se. Because the lender prefers to assess each case individually and offer at whatever rate. They believe to be right for that case. This is similar to certain other commercial lenders.

The only thing that said regarding commercial mortgage lending rates. That if you look at any lender in the UK, the lowest rate you will find is around 3.5% above the Bank of England base rate. Which currently sits at 0.5% and has done since 2009. There are no fixed contracts on offer - tracker is your only option.

All those about to embark on a China tour or corporate mice trip to China here are some useful notes to consider before you leave home:

1: Credit cards are taken in some places, but many establishments will not accept foreign credit cards.

This is especially true at airports, train and bus stations which will only accept cash payments. Even Ctrip online would not accept a western card over the phone because you will be flying the next day. I had to travel to Guangzhou airport and pay in cash for internal flight tickets which were most irritating.

2: Even some banks will not let you draw money out with your credit cards. 

China Bank Exchange Rates

The most reliable bank isThe Bank Of China. It can draw cash out from their ATMs with my credit card. And with Nat West debit cards when no other bank can allow you to. They are on virtually every street in China which is reassuring.

3: ATM's Beware: 

If you do use ATMs to draw out cash, you will get quite a large fee for doing so. An ATM transaction fee and a foreign exchange fee. They can also be unreliable, and it is a real pain trying to get things sorted out if your card gets stuck or does not pay out the money. However, most banks have English speaking staff but do not rely on this as their English often very limited to Hello, Goodbye, How are you, etc. I tend to go to the counter and draw my money from the cashier using my passport as proof of identity. At least you know you will not lose your card or your cash using this approach.

4: If your stay in China is long enough it recommends opening a Chinese bank account. 

With The Bank Of China, you can then arrange transfers of your money from your UK bank into your China Bank. Union Pay accepted at all Chinese establishments and will make paying for your goods or services that much easier.

5: Always carry some cash with you. 500rmb is more than enough for most things you will need to do.

Product Features

  • Banks offering International Payments: Banks offering International Payments
  • Buy Holiday Money Online: Buy Holiday Money Online
  • Cash Payments: Cash Payments
  • Make Instant Payments Under £1000: Make Instant Payments Under £1000
  • One off Large Currency Transactions: One off Large Currency Transactions
  • Remittance Providers in the UK: Remittance Providers in the UK
  • Send Regular Transfers Overseas: Send Regular Transfers Overseas
  • Commission Rate: %

Quick Quote

Company Details

Quick Quote

Free Transfers

Bank of China
Quote: "bankexchangerates.co.uk"
to receive a FREE transfer.
Simply call
0044 (0) 20 7282 8845

Website Screenshot

Bank of China

Address Details

Bank of China
1 Lothbury,
Great London,
United Kingdom,
EC2R 7DB

Bank Currency Calculator

GBP Flag

1 = 1.17730

Euro Flag

1 = 1.17730

Change Currencies View Providers

© 2018All Rights Reserved: Banking Exchange Rates. Address: 83 Ducie Street, Manchester M1 2JQ. +44 (0) 844 357 4755 - Email Us