Author Topic: Bringing cash into China  (Read 4224 times)

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Scottish_Rob

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RE: Bringing cash into China
« Reply #15 on: September 25, 2009, 07:49:09 pm »
Well mate I am going to do the same...:icon_biggrin:

Offline Martin

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RE: Bringing cash into China
« Reply #16 on: September 26, 2009, 12:24:33 am »
Personally, to avoid all risks, I would take the cash, and keep a close eye on it.

Offline Willy The Londoner

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RE: Bringing cash into China
« Reply #17 on: September 26, 2009, 04:31:45 am »
Quote from: 'brett' pid='18046' dateline='1253897672'

Cheers guys. It turns out the forex counter in M&S had some RMB. They only had 100 notes but I got enough to last a few of days.

I am not meeting my lady until a few days after I arrive in Wuhan. I will visit a bank when she is with me, because if you don't speak Mandarin then *everything* is difficult in China lol :@.



They only ever give out 100 yuan notes.

Be careful - there is a new 500 yuan note about but do not accept them.  You cannot change them.  Even banks refuse to take them without sending them away for testing -  So make sure you only get 100 notes.  In heathrow forex you will get 9.5 yuan per £1  - Use your debit card in China and you will get 10.60 - 11 per £1 depending on the days rate.

Willy
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David5o

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RE: Bringing cash into China
« Reply #18 on: September 26, 2009, 08:44:58 am »
OK, ...a few golden rules about Foreign Exchange.

1/ Never change money up at any airport or a hotel unless it's absolutly unavoidable.

2/ Never change more than you need for the first day of your visit, in your own country.... (there are very few exceptions, and none that would probably affect you) I normally never exceed 50 GB Pounds
I can assure you, ...you will kick yourself, if you change up the bulk of your money in your own country!!!

3/ Always take good quality notes to China (very important). They, like many other countries will not take notes in a bad condition...

4/ Bank cards, ...Always inform your bank that you will be in the country your visiting, or you could find the card being stopped by your bank!! You can also request a period of time that you want to have a higher withdrawal limit. They will generally agree to this request if you tell them the country and city you will be staying in.

5/ There are other outlets where you can change your money in China, but it will be highly unlikely that you will find them on your own. Many are illegal, and offer better rates than you will get at the Bank of China. Best to ask your lady if she knows of any in her area. They are well worth seeking out, if you have the time. They are not scammers, or crooks, they are just dealing under the table so to speak. The rates for US dollars are not that much better than the banks, They tend to deal more in Euros, Sterling, Aussie Dollar, Won, Yen, etc, where the rates can be significantly better.....

I hope that helps some of you, that are visiting China for the first time......

David.....

Offline JimB

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RE: Bringing cash into China
« Reply #19 on: September 26, 2009, 09:04:25 am »
Everything David has said I found to be true also.  You cannot go wrong with this info.
Maxx's 24 hour rule, learn it, live it.

Scottish_Rob

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RE: Bringing cash into China
« Reply #20 on: September 26, 2009, 09:40:28 am »
David mate...You are just a little mine of information...Cheers buddy....lol

brett

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RE: Bringing cash into China
« Reply #21 on: September 26, 2009, 12:55:46 pm »
Great info thanks. I'm taking some RMB, but I'll also take some crisp £20 notes. It seems nobody loves the US dollar these days.

Offline Willy The Londoner

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RE: Bringing cash into China
« Reply #22 on: September 27, 2009, 03:32:23 am »
Word of warning - do not attempt to leave China with any RMB's at all.  Coins ok but no notes may be taken.

If you have any left before you board the plane home you have to post them to Room 311, Unit 1, Building 8, 158# Lan ..........

S**T was is the rest of my address!!!!

Willy
Quote from: 'David5o' pid='18138' dateline='1253969098'



4/ Bank cards, ...Always inform your bank that you will be in the country your visiting, or you could find the card being stopped by your bank!! You can also request a period of time that you want to have a higher withdrawal limit. They will generally agree to this request if you tell them the country and city you will be staying in. David.....


Just add a few words here. Always take the banks 24 hour phone number with you.  Because even if you tell your bank before you go your card may still be stopped after the first transaction.   The computer will pick it up as a possible fraudulant transaction and according to my bank the computer cannot be pre programmed under these circumstances. You will have to call the bank for them to do this physically after the card has been blocked.

I had to do this with both Barclays and Lloyds but since calling them I have had no problems in the past 3 months.

Willy
« Last Edit: September 27, 2009, 03:39:27 am by Willy The Londoner »
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