Bringing cash into China

[brett]

Hi guys,

Does anyone know if you're allowed to bring in RMB into China?

I've looked at many websites. Some say you can bring in/out no RMB, others say you can bring in/out 6000RMB. Who is right, and where's the official website?

Also if I bring £ sterling is this good for exchanging at a bank? I know US $'s are popular, but I'd rather take £'s than get stiffed on exchanging cash in the UK.

:huh:

[David5o]

Brett,

I never had problems changing sterling to RMB, i don't know if that's changed now, but i doubt it!!

Never change money in your own country, you will always get a better rate of exchange in the country your going too There are very few exceptions to that rule, and China isn't one of them.....

If your going to bring in RMB to the country, only bring enough to see you through the first day. As a rule, i never take more than 50 GBP worth of any currency into the country i'm going too, it's just not worth it!!

David.....

[maxx]

Mike the airport in Hong Kong is ok.I got 6.7 in June

[brett]

Yes I would like to bring some RMB with me, as after a 14 hour journey the last thing I want to be doing is messing with large amounts of money.

Airports are notorious for having rubbish exchange rates, I don't know if this is the case in China.

I'll also bring some £'s, then I can ask my lady to look for somewhere with a good exchange rate.

[JimB]

Brett, There is a lot of info on this site about this.  But, you can bring in up to 10K worth of your currency in RMB with no problem.  Just make sure whatever currency you bring in is fresh and clean as a whistle.  No dirt or wrinkles or tears or anything else.  The Bank of China gives the best exchange rates.  Other banks turn their foreign currency into the Bank of China so they make a couple of bucks on it.

[RobertBfrom aust]

Brett , in August I took 1500 rmb [ yuan ] and some loose Aussie money and then just withdrew from atm via my bank issued card and paid for big items with my Visa debit card [ ie - hotel and apartment ] , just make sure all know that you are going to China for x days and if you take pounds do not fold them and make sure they are perfect , they will not accept creased or worn notes . Only exchange at recognised places as there is a lot of funny money like a lot of countries and whoever you pay from the taxi driver down will check their own currency very well , regards Robert .

[Martin]

When I went over last March, I converted 200 Canadian into RMB at the airport in Toronto.  I was carrying 4000 Canadian on me, as I heard that it can sometimes be difficult getting money from the bank in China.  I just converted the money while I was there, and as I needed it.  I would convert 1000 cdn at a time.

[brett]

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 :@.

[Philip]

Hi Brett,
I went to a few bureaux de change around London recently. They said you can take up to 20000 yuan into China. If you want large amounts (over £1000 worth, they can do you a good rate (10.50 yuan to the £, about 1 yuan more than if you want a small amount) - this was 2 weeks ago. It takes 48 hours for most places to get delivery of the notes after you order. I don't know if these rates are comparable with Chinese rates.

Alex

[heckerd]

US dollars to RMB is currently peg at a set amount of 6.8 so the rate won't fluctuate and best change at the bank. If you carry other currency you can exchange them at a private dealer. The private dealers offer a better rate then the banks but you must know where to go. Your wife or girlfriend might know where there is a reputable dealer.

[brett]

Thanks guys. I don't think my exchange rate was that great, but at least I have some cash to get me started. It's quite easy £1 = about 10 RMB. Actually, last year due to the credit crisis I made a huge profit on my unspent yen, even after the ripoff M&S currency spread :dodgy:.

I don't plan on spending too much out there anyway - a fried scorpion on a stick and a bottle of local beer will do me for an evening meal. My lady only seems to eat fruit, so I'll buy her a bag of apples :s. I don't know what the beer is like in Wuhan, but in Hong Kong the Shenzen brewery stuff was fabulous.

[Scottish_Rob]

Thanks guys. I don't think my exchange rate was that great, but at least I have some cash to get me started. It's quite easy £1 = about 10 RMB. Actually, last year due to the credit crisis I made a huge profit on my unspent yen, even after the ripoff M&S currency spread :dodgy:.

I don't plan on spending too much out there anyway - a fried scorpion on a stick and a bottle of local beer will do me for an evening meal. My lady only seems to eat fruit, so I'll buy her a bag of apples :s. I don't know what the beer is like in Wuhan, but in Hong Kong the Shenzen brewery stuff was fabulous.

HEHEHE You big spender you, TREAT the lady ffs, buy her oranges as well

[Voiceroveip]

Brett, breweries in China (and Japan) were started by German monks, so the beer is generally quite good in Asia.

About cash, there are always ATM's right next to the exits in airports, and you can withdraw no problem. When in town, you need to find a Bank of China ATM, the hotel reception can usually tell you where the closest one is. I still have 200RMB from my last trip, enough to get to the first ATM so I won't bother to exchange any cash. Yes and do warn your bank(s) about your Chinese trip, one of my cards got blocked, then unblocked a few hours later after a nasty email to my branch office ^_^

[Neil]

I had a hell of a time buying an engagement ring in China.  What type of jewelry store does not take Visa, even in China?  2 that I visited wouldn't take visa.  I was limited at the atm's to 2000 rmb per day per card as cash withdrawls.  6000 RMB in my wallet is a thick wad of hundred's and is only worth $1000 Canadian.  Frustration abound that day.  I believe the 2000 RMB limit is a bank limit per card daily.  I could withdraw another 2000 the following day.

[Andy]

I have read that if you tell your bank you need a higher withdraw limit they will adjust it for you and also good idea to let the bank know you are going to spend money in China, because in some case they might think it is a fraudulent charge and they will put a stop on your card.
I am planing to take most of my money as cash in my pocket and exchange it at the Beijing airport. Is that a good idea or should I just use my card at the exchange booth?