Bank of China Foreign Currency ATM Withdrawal Complete Guide | How to Set Up Withdrawal Function and Limits

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If you want to withdraw foreign currency at a Bank of China foreign currency ATM, you must first activate the withdrawal function via mobile banking or online banking and set a daily withdrawal limit. Before withdrawing, please check if the debit card status is normal. Operating hours and supported currencies vary by branch, with common currencies including USD, JPY, and RMB. Some regions’ ATMs offer 24-hour service, but operating hours are subject to branch announcements.

Key Points

• Before using a Bank of China foreign currency ATM, you must activate the withdrawal function and set a daily withdrawal limit via mobile or online banking to ensure a smooth withdrawal process.
• Confirm that your debit card has enabled international debit card functionality and check its status and validity to avoid issues during withdrawal.
• Convert HKD to the target foreign currency in mobile banking before withdrawal and ensure sufficient balance in the foreign currency account to avoid failed transactions.
• Bank of China foreign currency ATMs are mostly located within branches with limited operating hours; check branch hours and supported currencies in advance.
• Protect your password during withdrawal, collect cash and card immediately afterward, and contact bank customer service promptly if issues arise.

Bank of China Foreign Currency ATM Introduction

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Supported Currencies

When using a Bank of China foreign currency ATM, you can choose from multiple major currencies. These ATMs support USD, AUD, JPY, GBP, and other foreign currencies. If you need to withdraw RMB, you must use a dedicated RMB ATM. You should confirm whether the target branch’s ATM supports your desired currency. Some ATMs display supported currencies on the screen for easy reference.

Tip: When converting foreign currency, pay attention to the daily exchange rate. For example, if you want to withdraw USD 100, check the real-time exchange rate on mobile banking to calculate the required HKD amount, avoiding extra costs due to rate fluctuations.

Branch and Operating Hours

Bank of China has approximately 19 foreign currency ATMs, mainly located within major branches in Hong Kong. These ATMs are not available 24 hours and operate according to branch hours. You should check the target branch’s opening hours in advance to avoid a wasted trip. Most branches operate from 9:00 AM to 5:00 PM, Monday to Friday, with half-day operations on Saturdays. They are typically closed on Sundays and public holidays.

• It’s recommended to visit shortly after the branch opens when cash is more likely to be sufficient, reducing the chance of withdrawal failure due to low cash reserves.
• During peak hours, you may need to queue, so allow sufficient time.

By understanding the supported currencies and branch operating hours of Bank of China foreign currency ATMs, your withdrawal process will be smoother.

Pre-Withdrawal Setup

Before using a Bank of China foreign currency ATM, you need to complete several key setup steps to ensure a smooth and secure withdrawal process.

Activate Withdrawal Function

You must first activate the “Hong Kong Overseas ATM Withdrawal Function” via mobile or online banking. Bank of China requires you to be at least 18 years old and hold a valid account with contact details. You can authenticate your identity using a chip-based debit card with a card reader or a telephone banking password. During activation, you need to set a username, password, and verify your mobile phone. These steps help protect your account security and prevent unauthorized use.

Tip: If activating the withdrawal function for the first time, prepare your ID documents and mobile phone for immediate verification.

Set Limits

You can set daily withdrawal limits and validity periods based on your needs. Bank of China foreign currency ATMs allow you to customize per-transaction and daily withdrawal caps. For example, with USD, a single transaction can reach up to approximately USD 2 million, with a daily cap of USD 3 million. You don’t need to worry about monthly limits, as there is no official monthly cap. For non-designated account transfers, the limits are USD 50,000 per transaction, USD 100,000 daily, and USD 200,000 monthly. These limits provide flexibility in managing funds while ensuring security.

• It’s recommended to set limits based on actual needs to avoid issues due to overly low limits.
• If you need to temporarily increase the limit, you can adjust it anytime via online or mobile banking.

Confirm Debit Card Status

Before withdrawing, ensure your debit card has enabled international debit card functionality, especially if you plan to withdraw overseas. You can check the card status on online banking or by calling the customer service hotline. The bank may require multi-factor authentication, such as SMS codes, Face ID, or fingerprint recognition, to ensure only you can operate the card. You should also check the card’s expiry date to avoid withdrawal failures due to an expired card.

Note: If your debit card is damaged, invalid, or locked, contact the bank immediately to resolve the issue and avoid disrupting your withdrawal plans.

After completing these setups, you can confidently use Bank of China foreign currency ATMs to withdraw your desired foreign currency, enjoying secure and convenient services.

Bank of China Foreign Currency ATM Withdrawal Process

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Foreign Currency Conversion

Before withdrawing, you can convert HKD to your desired foreign currency using mobile banking. This step is crucial, as the withdrawal currency must match the debited currency. In mobile banking, select the “Foreign Currency Conversion” function and enter the amount to convert. For example, to withdraw USD 100, check the USD to HKD exchange rate for the day and convert sufficient HKD to USD. After conversion, the foreign currency will be deposited into your foreign exchange account or related foreign currency account.

Tip: Complete the foreign currency conversion a day before withdrawal to avoid issues due to exchange rate fluctuations or system delays.

If you don’t convert currency in advance, the system will automatically debit from your foreign currency account during withdrawal. If the foreign currency account balance is insufficient, the withdrawal will fail. You can check your foreign currency account balance anytime via mobile banking to ensure sufficient funds.

Operation Steps

When you arrive at a Bank of China foreign currency ATM, follow these steps:

1. Insert your debit card.
2. Enter your debit card PIN.
3. Select “Foreign Currency Withdrawal” on the screen.
4. Choose the desired currency, such as USD, JPY, or GBP.
5. Enter the amount to withdraw. Note that the amount must be in whole units of the currency, e.g., USD in increments of 20 or 100.
6. Confirm the withdrawal account. You can choose an RMB account or a foreign exchange account. The withdrawal currency must match the debited currency.
7. Verify the amount and currency displayed on the screen, then press “Confirm” if correct.
8. Wait for the ATM to process, then collect your cash and debit card.

Note: If the ATM indicates insufficient cash or does not support your chosen currency, visit another branch or check for nearby Bank of China foreign currency ATMs that support the currency.

After completing these steps, the withdrawal process is finished. You can review the transaction record on mobile or online banking to ensure the amount is correct.

Tip: After withdrawal, immediately secure your cash and debit card to avoid loss.

By following the above process, you can successfully withdraw your desired foreign currency from a Bank of China foreign currency ATM.

Limits and Fees

Daily Limits

You can flexibly set daily and per-transaction withdrawal limits based on your needs. Bank of China foreign currency ATMs allow you to customize limits via online or mobile banking, making fund management convenient. For example, if you plan to withdraw USD, you can set a daily limit of USD 2,000 and a per-transaction limit of USD 1,000. This protects your account security and reduces losses in case of a lost debit card.

Tip: If you need to temporarily increase the limit, you can adjust it quickly via mobile banking.

You should set limits based on actual needs. If you only occasionally withdraw foreign currency, consider setting lower limits to reduce risks and ensure fund security.

Fees

Fees and exchange rates vary by location and currency. The fee structure for Bank of China foreign currency ATMs is transparent, but you should note the following:

• Wire transfer fees typically range from USD 500 to 1,000, a common range for interbank transfers.
• Banks charge a bid-ask spread during foreign currency conversion, which is an implicit fee. When converting USD, the difference between buying and selling prices affects your actual cost.
• Exchange rate fluctuations can impact your fixed deposit returns, potentially leading to gains or losses.
• If you choose physical cash exchange, additional fees apply. USD fixed deposits are recommended for at least 6 months, during which funds cannot be freely accessed.

Note: Some branches or currencies may offer fee waivers. Check the latest fee policies and exchange rate information before withdrawing.

You can refer to the table below to check service hours of different branches to plan your withdrawal:

Before withdrawing, check branch operating hours and the latest fee policies to avoid unnecessary costs and hassles.

Considerations

Card Eligibility

Before using a Bank of China foreign currency ATM, confirm that your debit card has enabled the required functions. The debit card must support international debit card functionality; otherwise, you cannot withdraw USD or other foreign currencies. You can check the card status via mobile or online banking. If the card is expired, damaged, or locked, contact the bank promptly to replace it.

Tip: If you plan to withdraw outside Hong Kong, activate international withdrawal functionality in advance and confirm the card’s validity.

Security Tips

Pay special attention to personal information security during withdrawal. When entering your PIN, shield the keypad with your hand to prevent others from peeking. After withdrawing, immediately secure your cash and debit card, and avoid counting cash at the ATM. Regularly change your debit card PIN to enhance account security.

• Choose branches with higher foot traffic and good lighting to reduce risks.
• If you notice ATM abnormalities, such as a damaged card slot or unusual screen display, stop the operation immediately and notify bank staff.

Issue Resolution

If you encounter issues during withdrawal, contact the Bank of China customer service hotline or seek help from branch staff immediately. Common issues include card retention, cash not dispensed, or insufficient balance errors. Retain transaction receipts for future inquiries.

Note: Check branch operating hours and ATM cash availability before withdrawing to avoid issues due to low cash reserves. In emergencies, notify the bank immediately to protect your funds.

Key Review

Process Recap

You can refer to the following steps to quickly review the Bank of China foreign currency ATM withdrawal process:

1. Activate the withdrawal function and set daily limits via mobile or online banking.
2. Check debit card status to ensure international debit card functionality is enabled.
3. Convert HKD to the target foreign currency (e.g., USD) in mobile banking and confirm sufficient foreign currency account balance.
4. Visit a Bank of China branch with foreign currency ATM support, noting operating hours.
5. Insert card, enter PIN, select foreign currency withdrawal, choose currency and amount (e.g., USD 100), confirm account and transaction.
6. Collect cash and debit card, review transaction record.

Tip: Check supported currencies and the latest exchange rates in advance to avoid extra costs due to rate fluctuations.

Important Reminders

Pay special attention to the following during withdrawal:

• Set appropriate daily and per-transaction limits to protect account security. Example: Set a daily limit of USD 2,000 and a per-transaction limit of USD 1,000.
• The debit card must be valid and have international withdrawal functionality enabled to withdraw foreign currency.
• Shield the keypad when entering your PIN to protect personal information.
• If the card is retained or cash is not dispensed, contact the Bank of China customer service hotline immediately and retain transaction receipts.
• Before withdrawing, check the USD to HKD exchange rate for the day and calculate the required amount to minimize unnecessary losses.

By following these key points, you can safely and smoothly withdraw your desired foreign currency from a Bank of China foreign currency ATM.

Before completing your withdrawal, double-check your daily limit and withdrawal function. Bank of China foreign currency ATMs allow flexible management of foreign currency cash. If you encounter issues, contact bank staff immediately. By following the steps, your withdrawal will be safer and smoother.

Tip: Retain transaction receipts after withdrawal to protect your funds.

FAQ

What are the requirements for the debit card?

You must use a debit card with enabled international debit card functionality. The card must be valid and have foreign currency withdrawal activated. You can check the card status via mobile banking.

How do I adjust the daily withdrawal limit?

You can adjust daily and per-transaction withdrawal limits anytime via mobile or online banking. Changes take effect immediately, allowing flexible fund management.

What fees are charged during withdrawal?

The bank charges fees based on currency and location. Some branches or currencies offer fee waivers. Check the latest policies in advance.

Can I withdraw without a foreign currency account?

You must convert HKD to the target foreign currency in mobile banking and deposit it into a foreign currency account. The withdrawal currency must match the debited currency, or the transaction will fail.

What should I do if I encounter issues during withdrawal?

Contact the Bank of China customer service hotline or branch staff immediately. Retain transaction receipts to facilitate inquiries or issue resolution.

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