Money and Banking in Tibet
When plan to travel to Tibet, many travelers concern the money and bank in Tibet. What kind of currency does Tibet use? Can they change the local currency in Tibet? Where can they change the currency? To make it clear to all travelers, we are here to share the information with you.
What currency does Tibet use?
Tibet uses the Chinese currency RMB, or CNY, which is widely recognized. 100 RMB is the highest currency. On some occasions, the US dollars are also acceptable. So you’d better have enough RMB with you. But you can also have some US dollars. Please note that coins are not accepted by Tibetans.
Can they change the local currency in Tibet?
Yes, they can. The currencies of Australia, Canada, the US, the UK, Hong Kong, Japan, the euro zone and most of the rest of Western Europe can be changed to the Chinese CNY. Except for Lhasa, the only other locations to change money are in Shigatse, Zhangmu, Purang (cash only) and Ali.
Where can they change the currency?
Bank of China: the only place to change foreign currency and travelers cheques. Lhasa Central Branch of Bank of China is also the only place to officially change RMB back into foreign currency with your original exchange receipts.
Hotels: Some starred hotels in Lhasa like Lhasa Hotel and Tibet Hotel also have exchange services for guests.
Airport: At some of your arrival airport, it can provide currency exchange service.
Banks & ATM
Banks in Tibet
There are several banks in Tibet.
1. Bank of China
2. China Construction Bank
3. China Agricultural Bank
4. China Industrial & Commercial Bank
5. Bank of Tibet
You can withdraw money with Credit card, Master card and Visa card in few banks. Bank of China accept Master card and Visa card. Depend on your bank card, there is a withdraw limitation around CNY 2000-4000 per day.
ATM in Tibet
There are ATMs from Bank of China, Construction Bank of China, Agricultural Bank of China in the cities and some towns including Lhasa, Shigatse, Tsetang, Nyingchi, Ngari, Gyantse, Lhatse, Saga, Nakchu, etc. The Bank of China accepts Visa Card, Master Card, Diners Club, American Express and Plus. The Agricultural Bank accepts Visa, Plus and Electron. The withdraw limitation is around CNY 2000 per day.