2007-02-13 22:20:08 · 8 answers · asked by glen m 1 in Travel ➔ Asia Pacific ➔ China
You will get better rates at if you change for RMB (or Yuan) at the banks in China or Airport. However, in China if you are exchanging money, they will need to see your passport.
However, my best recommendation would be to use your credit card as often as you can. You only pay 3% for foreign exchange transaction fee. Most places will take Visa & Mastercard. However, there is a chance that some smaller businesses may not take non domestic credit card.
You can also easily withdraw cash from ATM machines in the big cities (again not in smaller cities). I had problems getting cash from ATM machines in Jiading District (outside of Shanghai).
2007-02-14 01:29:53 · answer #1 · answered by grendeth 5 · 0⤊ 0⤋
As far as I know you can't change Dollars to RMB except in China. They may have loosened the RMB a little, but not that much. If you are going to change money do it over here at a Bank of China (or any of the national banks.) Keep in mind you can only exchange money on weekdays even though the banks are open on the weekends.
China is getting better on allowing credit cards and atm cards, but don't rely on them at all. This is still very much a cash society and there have been times I've found myself unable to change money for a few days. It isn't unheard of holding on to 1500 RMB, just be sure you keep it safe.
Don't exchange a lot of money at the airport, you will get a bad rate there. Exchange some for use, but then find a Bank of China, they are all over everywhere so finding one will be easy.
Another tip - you can not exchange RMB back to US dollars unless you keep an orignal exchange receipt, i.e. if you exchange $20 to RMB you can only exchange the amount of RMB back to $20.
The only place I know of where you can trade dollars and RMB outside of China is Singapore.
2007-02-16 01:41:25 · answer #2 · answered by Chris A 3 · 0⤊ 0⤋
Been to China many times and my advise is to bring you ATM card and retrieve your RMB at the airport. Most large airports will have HSBC or Bank of China ATMS. If you use your HSBC ATM card, there will not be any atm charge, but just the normal foreign currency exchange. Its best to go to HSBC site and find out exactly where they are.
http://www.hsbc.com.cn/1/2/misc/branches-and-atms
Good luck.
2007-02-15 14:43:36 · answer #3 · answered by GQPrivacy 3 · 0⤊ 0⤋
Most banks in China can exchange U.S. dollar, So you do not need to exchange RMB in U.S.A., there are very many banks.
2007-02-14 07:07:34 · answer #4 · answered by Daisy_Cheng 1 · 0⤊ 0⤋
i suggest u exchange ur money in the airport when u land in china...u'll get a pretty good rate and it's just easier to do it there. trust me, i've been to china 4 times so far...have lived there twice...
2007-02-14 13:24:28 · answer #5 · answered by ME 5 · 1⤊ 0⤋
yes you can ...but you will be ripped off so badly with the exchange rate....wait till you get there okay..as soon as you gget off the plane in the airport there is exchanges..and while you are there don't exchange aty the hotels...cause they rip you off too.
2007-02-14 06:41:48 · answer #6 · answered by avie 2 · 0⤊ 0⤋
some travel agencies do it or in general most banks. you just have to give them a heads up, so they can order them for you. you can also get them anytime at the airport banks.
2007-02-14 06:23:27 · answer #7 · answered by cordellialynn 3 · 0⤊ 0⤋
most major national banks....
2007-02-14 06:23:23 · answer #8 · answered by koalatcomics 7 · 0⤊ 0⤋