China Romance
General Discussion and Useful Links => Ask An Experienced Member => Topic started by: Neil on July 31, 2009, 02:00:29 pm
-
This has probably been covered but how much cash is recommended to bring with you to China? I was planning on ordering cash from the bank but I have no idea how big (physically) a pile of RMB would be. I guess I'll need some Hong Kong cash too since I'll be taking the ferry and spending some time in the airport.
Speaking of HKIA, I have to spend about 6 hours there, will I be able to find a locker or something to store my luggage?
-
There are a few threads covering this, but i kinda forgot what they are called so can not tell you. But if it helps i took travelers cheques and atm cards, but also about 5200 yuan (£500) not sure what that is in US or Canadian dollars, but the bank i used had to order that amount as they did not carry that much Chinese yuan, so definitely order it or if you leave it too late you may not get the amount you need. But they only did 100 yuan notes (think that may be the largest you can get) and as you can imagine carrying 52 100 yuan notes is quite a large wedge, and could not fit it all in my wallet!!! So i advise some kind of money belt as you do not want to have all that loose in your pockets. But the bank of China changes travelers cheques and i found their exchange rate better than here in the UK, so maybe take them, as the same equivalent of 52 100 yuan notes was only 7 travelers cheques (much easier for fitting in the wallet) :)) Hope some of that helps. Oh, think the thread was called cost of going to China. Try that if i haven't given you the answers your looking for. :)
Andy.
-
Not sure what you people here do, but i only ever change up enough to see me through a couple of days in China, from the country your in. As a general rule, .... You always get a better exchange rate in the country your going too.
There are very few exceptions to that rule..... There are also, ...if you look out for them, black market money changers that give a slightly better rate than the bank of China. very handy if your changing a large amount in one go !!
Obviously, i also take cards with me too, just to be on the safe side ...haha!!
David.....
-
Over the long length of time reading about this, one thing is said over and over is like David said Do it in the country. Another thing is the travelers cheques/checks. The banks give you a hard time of it. Signature has to be exact? I don't know about others but mine changes each time. Never exactly alike. And Cash? nice looking unfolded, unwrinkled bills.
-
I have only ever used the ATMs which are just everywhere.
I usually bring some cash, Australian dollars as a backup. I have never had to use it though.
I take a mobile phone with me and if I were to lose everything I would get my parents to send me some cash via Western Union. Here I am 43yo, and still have the parents as a last resort *laughs*
As an aside, if you are an Aussie, you should get yourself a Wizard Mastercard. No fees for anything (eg no annual fee, no foreign currency fee, no withdrawal fee, no ATM fee, etc ). All you pay is interest. And even that you can get around it if you put your card into credit.
-
I don't know Danny, .....Still using the Good old Bank of Mum & Dad!!! I hope to God, my two arn't planning on using there old overdraft account when there middle aged!...hahaha!!
David.....
-
I've heard it said, David, that in the west, the children act like adults, and the adults like children. I'm never growing up, not while I have parents. I'll just be some really ugly peter pan wannabe *laughs*
-
I always do the exchange at the airport in Hong Kong.Last time it was 1 RMB = 6.7 USD.The official exchange rate was.1 to 6.8.I also got some Hong Kong money I don't remember the exchange rate but it was close to the official rate.The money exchange is to the right as you clear customs in Hong Kong.I ussually exchange 300.00 USD for RMB and 100 USD for Hong Kong Dollers.You are going to have some Hong Kong money left.Just save it for the next time you go.
If you need more RMB you can do the exchange at your hotel our the bank in China.The bank will give you a better rate. I always take credit cards and my bank card.If you take credit cards or bank cards.Just let the bank and the credit card company know before you go.Or your cards mite get locked.And then you have to call the card company and try to convince them it is you so they will unlock your card.
I have never messed with travlers Cheques.Because I have heard the stories about people not excepting them if the signature wasn't the exact same on all of them.
-
Neil,
Get a money belt. take at least $2000 usd. Depending on how long you stay. The better hotels will exchange USD for RMB at the going rate. Bank of China will more than likely give you the best rate. Visa cards will get a decent rate also. but you cannot rely on every place you go to take it. about 8 out of 10 restaurants will, depending on the city. It all varies depending on what you plan to do and who you plan on taking with you. But i would count on costing about $3000 usd for a 2 week stay. That is on the high side. but, you are going to want to buy souvenirs for the folks back home. Taxi's, guides, entrance fees, hotels, etc. This trip I am planning on about 12K for 2 months, but that includes my wedding. The flight, rings and apartments already taken care of. This is not a cheap thing we are talking about. it doesnt mean she is taking you for the money. if you fall for her, and she does not have a computer, you will want to get her one. Average cost about $700 usd. A besta translator about $300 usd. it all adds up fast. I think my second trip i spent about $4K. Plus airfare. But everything I did I did first class. My hotel was $100 a night. so it alone was about 1400 plus $1k for computer and translator. I had no less than 3 to four people at every meal. With the guide and driver or friends. Of course you can do it cheaper. I have learned now about the Mohotel. Cut my hotel bill more than half. Eat in the room, cheap and only for two this time. She already has the computer and translator. I mean, I would count on a minimum of $2k plus airfare. Everyone is different so it depends on how you want to take it.
But get a money belt, take cash, your credit card and a copy of your passport with you. Do not take your original passport out in public. if asked show your copy., Ifi t is really necessary, you can go to the hotel and get the original. But if you lose the original, you are screwed for a while depending on your connections. At least if you have a copy to show it speeds things up. That is just my take on it. Enjoy your trip. That is the most important thing. No matter what you do or what you spend. Enjoy the trip and her.
Jim
-
Jim is about right . On my Feb . Trip ( two week's ) I took about 17,000 yuan with me to China . All left over from the August wedding Trip . Had the best time in SH and Beijing and came back with 6,500 yuan for the upcoming Trip . So , I spend ( not including Hotel's ) 10.500 and the 3000 I received from my Wife's Mom , for Beijing . So about $ 2,000 for two week's of great Fun , Food and Travel , tea to bring home along other little thing's .
The best exchange , I received was Bank of China $ 1 = 6.83 with Traveler's Cheques ( I had no problem with my Wife doing the talking at the Bank ) but yes , at least three People will check them out closely .
The ATM's gave me 3,000 yuan a day without no hassle (call your Bank before )
A thousand yuan , should get you easily over the first couple of day's , so no need to take more from Home , till finding a Bank or ATM .
-
Guys do yourself a favor by opening an account in Bank of China in your respective city, make sure you get a debit card also. No more complications or problems anymore with exchanging money. Also, I'm pretty sure the money changers were outlawed a long time ago, been living here almost 6 months and I haven't seen any of them around. Best to keep away from that type of element if you're smart. I'm personally going to open an account in Bank of China for when I go home for visits. Changing currencies is a major pain in the neck.
China Shark Mike
-
I was told that China have a limit for 20 000 yuan that you can take with you when coming to China.
-
Quick question for the guys that took their laptop with them. What do you do with it when your out? Do you carry it with you?
Peter I know there is a limit of cash you can take OUT of the country (US)?
-
Vince.. I got this information when I was going to exchange money in Sweden... I don't think that the limit is set from Sweden but from China..
-
Hotels have a lock box for your laptop. The first girl I met in China insisted we use it. My wife just has me leave it in my suitcase or on the desk when we stay in a hotel.
-
Vince, if you're staying in a respectable hotel you shouldn't any worries. I never had any problems with my labtop being left out the first three weeks I was living out of a hotel. You guys all compare your experiences from your respective countries. Theft does occur here yet not to the degree you are used to back home. But if you are weary use the inroom safe.
China Shark Mike
-
I agree with CS Mike. When i visited China the first time I left my laptop in my hotel room just sitting in it's case beside the table. I never had any problems, everything was in it's place and nothing was stolen. The other 2 times I visited China I was staying at my wife's house so that doesn't count. Like CS Mike has mentioned, if you are in a reputable hotel there should be no problems what so ever, or just use the hotel safe if you feel afraid of getting it stolen. I usually carried my passport with me at all times, but then I decided to lock it in the hotel safe that was in my room. I never encountered any problems with my personal belongings when in China, I even left things sitting on the desk and tables in my hotel room and everything was still there when I returned. The cleaning lady would sometimes move the items when she cleaned the room and place them, that was all. The only person that can really enter your room is the cleaning lady, and I do not think she will risk loosing her job and have other implications and problems that she could face if ever she was caught stealing something from a clients room.
-
Hi China Shark
I have a Bank of China account here. Before I left UK I went to the London Branch. They told me that I would not save anything as branches outside of China are clasased as a seperate bank and I would still have those high charges and exchange rates. They suggested using a debit card but to be prepared for it not to work after one or two withdrawals. China bank card issued outside of china would be the same. Better rates on card transfers. Quick call to your bank whilst here , after it was stopped, would open up your account for the duration. They are unable to programe their computer until your card is stopped.
I have no problem here now.
Willy
-
Yeah, we have bank accounts in China with debit cards. For anyone here that is planning on marrying your lady in the future .....Open an account, and deposit money to that account, you can also deposit any cash you have left over from your visits. This is definately the best all round situation, as far as access to money in China is concerned....
David....
-
Just a quick mention on the travelers cheques, i see people are saying it could be a problem if the signatures are not exact, a quick story that should put your mind at ease, i am left handed and about two months before my visit i accidently chopped two of my fingers off at work!! They were stitched back on and i still went to China while recovering. But while in China i still could not use my hand for writing with so i was having to use my right hand for everything (thank the Chinese for chopsticks as i could not use a knife and fork anyway..!) :) But my right hands writing kinda resembled a 4 year olds, and every-time i tried to write it was completely different and my signature was terrible! But i went to the bank of China with my travelers cheques and my passport and i had no problem with changing them into yuan.
Oh, and i see someone mentioned the black market giving you a better exchange rate, well yes they do, but unless you are with your lady or even then i would think twice about it as we was approached every-time we was about to go into the bank by one of these guys, but the girl i was with said that quite often the money is counterfeit, and they approach the tourist as they probably would not be able to tell the difference. So if you do think about using one of these guys be very careful.
Andy.
-
Andy,
I wasn't talking about the bank touts, the real black market money exchangers, are basically shop keepers and the like!!.... very easy to find again. haha!! They have need of Western currencies to buy goods and stuff. The locals have a hard time changing there RMB for Dollars, Euros, Pounds etc.... No i never have anything to do with the touts either.... not unless a good friend is willing to verify he's OK!!
David....