Purchasing foreign exchange is a transfer transaction, in which the domestic currency on your account is exchanged for foreign currency, which is equivalent to foreign exchange trading. The converted foreign currency is still on your account or bank card, and no cash is withdrawn.

Buying cash is to exchange domestic currency for cash in foreign currency, and the handling fee is slightly higher than buying foreign exchange. This is based on the daily foreign exchange selling price (the price the bank sells to customers) and the cash selling price issued by the Bank of China. Can be reflected in.

Different roles

In the past, when purchasing foreign exchange, the domestic currency on the account was exchanged for foreign currency, and the foreign currency after the exchange was also on the account or bank card, and no cash was withdrawn.

Different fees

The fee for buying banknotes will be higher than buying foreign exchange. This can be reflected in the daily foreign exchange selling price (the price the bank sells to customers) and the cash selling price issued by the Bank of China.

The purchase of banknotes is directly exchanged with cash

How to use Alipay to purchase foreign exchange? Alipay uses the international payment method that uses Del’s instant payment method. That is to say, after the buyer uses RMB to pay, Alipay will purchase foreign currency on behalf of the corresponding foreign currency, pay directly to the merchant, and then the merchant is responsible for the delivery.
What is the difference between buying foreign exchange and buying money?

How to calculate the exchange rate when using Alipay to purchase foreign exchange?

  1. The buyer’s exchange rate for purchase of foreign exchange is based on the current exchange rate provided by China Construction Bank at a certain point in the country on the day, and the buyer will pay the purchase price in RMB at this exchange rate.
  2. The actual exchange rate for foreign exchange purchases is the country’s spot foreign exchange selling price at the time when the Alipay instruction is initiated, and the actual exchange rate is calculated as RMB to pay for the actual foreign exchange purchase funds. 3. Alipay shall bear the profits and losses between the actual foreign exchange purchase funds and the foreign exchange purchase funds.

Is there a limit for purchasing foreign exchange?

For users who have completed the real-name authentication, the total amount of foreign exchange purchases cannot exceed 50,000 RMB on the day. Once the amount is exceeded, the transaction cannot be performed on the same day. The cumulative annual amount cannot exceed US$40,000. Once the amount exceeds, the annual transaction cannot be performed.