The Chinese Yuan buy back rates below were last updated 14 minutes ago
If you’ve ever tried selling left-over Chinese Yuan in the high street you’ll know how difficult it can be to find a good deal. Banks and travel agents typically offer very poor exchange rates, many bureau de change add fees or commission to your order and some currency suppliers will only buy back Chinese Yuan that they originally sold you in the first place. If that isn’t bad enough there is no standard procedure for buying currency back in the UK; every supplier has a slightly different ordering process and often you can be waiting for weeks before you see any money.
Fortunately there are a growing number of currency traders who are willing to buy Chinese Yuan sent to them by post – and at much better rates than you’ll find anywhere in the high street. The currency buyers we compare above are all licenced foreign exchange dealers based right here in the UK and they’ll buy any unwanted Chinese Yuan regardless of where there were originally purchased – no receipt required.
What’s the catch? There is no catch. These suppliers are able to offer such great rates because they trade in large volumes of currency and are able to sell your Chinese Yuan straight on to new customers instead of incurring additional costs by going to the bank, and these savings are passed directly on to you.
Ordering is simple: choose a buyer, fill out an online form, print it and post it together with your currency. You’ll be notified as soon as your currency has been received and you can expect payment within three working days directly into your nominated bank account.
There are three easy steps to selling your Chinese Yuan back online. All of these instructions will be explained to you as you go along and we’ll also email you after you’ve placed your order so don’t worry if you forget anything.
If you have any questions about the selling process, please contact our friendly team who’ll be happy to advise you further.
Yes, but only certain buyers will accept them and you may be offered a lower rate than you would for notes because they are heavier to post and more expensive to exchange. Please contact us if you have any Chinese Yuan coins to sell and we’ll try and find a buyer for you.
You can post your currency by whichever method suits you best or take it in person if you live nearby, however we strongly recommend you post your currency via Royal Mail Special Delivery which is a guaranteed Next Working Day service and requires a signature on delivery. This service is fully trackable, can be insured for up to £2500 per package and costs between £5-15 depending on the value of your currency (you can send multiple packages if you are selling a large amount).
You can find out more and pay for your postage online on the Royal Mail website.
If you are unsure about the best postage option just ask at the counter of your local Post Office branch and the staff will be able to advise you further.
You should be paid within three working days from the date the buyer receives your currency. You’ll be paid by Bank Transfer directly into the bank account you nominate when you place your order.
The Chinese Yuan buy back rate changes frequently throughout the day and it is likely that the rate will be slightly different when your currency is received by the buyer from the rate advertised when you placed your order. In most circumstances this will not be a problem and the buyer will honour the rate you received when you placed your order but you must try to get your currency to them as soon as possible.
In some cases where there is a long delay between when the order was placed and when it was received, or where the Chinese Yuan rate changes drastically within a short space of time, a different rate may be offered by the buyer on the day they receive your currency. You do not have to accept this offer and you may have your currency returned to you, minus a small charge for return postage.
The buyer will always contact you by to confirm any exchange rate changes before they process your order.
For your security and protection all of our buyers are registered with HMRC and the Financial Conduct Authority (FCA) for the trading of currency in the UK. As part of their legal requirements to help combat against money laundering and fraud, some buyers may ask you to provide some form of ID with your order if it is over a certain value. Accepted forms of ID are a photo driving licence or a passport and you can send either of these by email rather than posting them with your currency. You’ll be given full instructions and further details at the point of placing your order if you need to provide any additional ID; this is purely routine and won’t affect your order in any way.
When selling Chinese Yuan you want the exchange rate to be as low as possible because the Sterling value is calculated by dividing the amount of currency you have by the buy back exchange rate. This may seem counter-intuitive so let's see an example based on the comparison above.
If you have 1000 Chinese Yuan and the lowest (best) exchange rate is 8.8990, the Sterling value is calculated by:
1000 / 8.8990 = £112.37
Now using the same amount but with a higher exchange rate of 9.8979:
1000 / 9.8979 = £101.03
So the lower exchange rate yields more Pounds for your Chinese Yuan. Our comparison table above automatically calculates these amounts for you so you can see at a glance who is offering the best deals.
Over the past week the Chinese Yuan buy back rate has improved by 0.32% from last Tuesday's rate of 8.928 to today's rate of 8.8990 which means ¥1000 is worth £0.37 more today than it did a week ago. During this period the worst time to sell was on Thursday at 8.978 and the best time to sell is right now at 8.8990.
The 90 day outlook has seen the Chinese Yuan buy back rate improve by 2.72% from 9.148 on 7th September 2016 to 8.8990 today. Based on these figures, ¥1000 is worth £3.06 more today than it did three months ago. The worst buy back rate we recorded was 9.23 on 6th September 2016 and the best buy back rate we recorded was 8.804 on 15th August 2016.
Posted by Adam Silveston on 30th October 2015
Currency Buy Back is proud to announce its new recent website upgrade where consumers can now compare the best online currency suppliers in the UK using our unique currency comparison tables for both buying and read more