What is Cash and Currency Exchange Rate?

Example: Tom is in USA, Wong is in China

Currency Buying Rate(bank buys currency from you): Tom sends 100USD via CITI Bank account to Wong's BOC bank account in China. Wong goes to BOC, asks a bank teller to exchange the USD in Wong's account, he will get CNY in [Currency Buying Rate]

Cash Buying Rate(bank buys cash from you): Wong has a USD note 100USD, goes to BOC, asks a bank teller exchange the cash note, he will get CNY in [Cash Buying Rate]

Currency Selling Rate(bank sells currency to you): Wong sends 100USD via BOC Bank account to Tom's Citibank account in USA. Wong goes to BOC, asks a bank teller to exchange the CNY to USD, he pays CNY in [Currency Selling Rate]

Cash Selling Rate(bank sells cash to you): Wong needs a cash note of 100USD, go to BOC, asks a bank teller exchange his CNY, he gives the bank CNY in [Cash Selling Rate]

In most of banks in China, Currency Selling Rate = Cash Selling Rate!

CNY is short for Chinese Yuan(Renminbi)

In China, All Chinese banks do not charge service fee whatever you exchange how much currency.