China Travel Forum

[donny]

Hi--I recently posted about prices in China and now I have a related question. What is the best way to go about exchanging currency?I just got back from 2 weeks in Europe where I used my credit card to withdraw cash. To my horror, when I returned I logged in to my account to find that I got hit to the tune of $10 per withdrawl! Nowadays in Europe it's getting harder to find Change places for travelers checks so I'm wondering what it's best to do in Bejing, Xi'an, Shanghai and Hong Kong.Thanks for any tips!

[aynor]

You can apply for an ATM card and withdraw money at any machine carry the same logo. There is certainly a service fee involves, just check with your bank, it should be lower than credit card.In Beijing, Xian, Shanghai, you can change foreign currency at any bank (wz foreign exchange service) or your hotels, they give you the same exchange rate. Never deal with 'black market', you might end up with handful of counterfeit.In Hong Kong, exchange rates are different, you have to shop around.Before I forget, exchange rate of travellers' checks are always lower than cash.

[joly]

Traveller's checks are still easy to exchange in China--as easy as cash. Exchange rates are about the same anywhere, so you can use exchanges at the airport, hotels, or major banks. ATM cards also work in major cities, and the fees will normally not be so high--but check with your bank. As you learned, credit cards charge high fees for cash withdraws so should only be used for emergencies. They are not very useful for purchases in China except at major international hotels.

[ghfgj]

I went toSuzhou if you take U.S.money you can exchange it at Bank of China.there is one on the walking street. Most airlines will exchange money .It is best to do it here before you take your flight.you may not find what you are looking for when you get there!

[kamal]

the exchange rate was 8.2 on 100 dollars
You can go to the Bk of China currency exchange counter at the airport as soon as you land so you can have RMB for cabs, etc. I have used the ATM through Bk of China, but not all of them are in English, so you will need someone to help you the first time you use it (in Hangzhou, the one next to my hotel was mostly in Chinese). Most hotels give 8.2 or 8.21 to the $.