When you use your card for a transaction in a foreign currency (for example when you are abroad) the amount will be converted to British Pound Sterling ("GBP") and debited from your account. Details of the rates used for the currency conversion are given below:
Transactions carried out in Chinese Yuan ("RMB") in mainland China ICBC branches or ATMs
The amount will be converted to British Pound Sterling in two stages:
1.The Chinese Yuan amount will be converted into US Dollars ("USD") using the Chinese Yuan/US Dollar spot exchange rate which you can view here*:
2. The US Dollar amount will be converted into British Pound Sterling using our daily US Dollar/British Pound Sterling rate which you can view here:
*Please note that as the Chinese Yuan/US Dollar conversion is carried out using a spot rate, currency fluctuations may mean that the amount varies slightly from that shown on the website.
All other foreign currency transactions, including Chinese Yuan transactions which are not carried out at a mainland China ICBC branch or ATM:
The amount will be converted to British Pound Sterling using the China UnionPay prevailing rate, which you can view on their website at here.
(Please note, we charge a commission fee of 2% of the transaction amount when you withdraw cash aboard).