All About China > Your trip to China

Money Changers?

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heckerd:
My last trip to China I carrired 5,000 US and 5,000 CAD and my US visa as emergency. I was getting married and decided to get a ring in Hong Kong with my wife selecting on the ring since I wanted her to choose the ring style she liked. I never exchange at the bank I always exchange at the private dealers for a better rate without the fees. Bring a money belt with you if you have alot of cash.

David5o:
Probably, for anyone going out to China for the first time, the best bet would be using some form of Credit and ATM card(s) Obviously following all the safeguards that has been mentioned, like informing your bank when and where you will be, so as not to have the card blocked!!

But i would also suggest that you take an emergency contingency amount with you in your own currency cash. Cash that you have no intention of using/spending except in an emergency!!

Never change up more than you would need for 1 or 2 days in your own country, you will ALWAYS get a better rate for your cash in the country you are visiting, the exceptions to this rule are very few and far between, and China is not one of them!!

Somewhere in these threads, i have previously posted a do's and dont's list on money changing in China, if you can find it, ....it will explain a bit more than i have here!!

Another observation on this thread. It is illegal to change foreign currency for RMB in China or visa versa, except through official designated banks, so never change your cash with touts outside the banks. You could get yourself in a whole heap of trouble, you could even find yourself dealing with the fraud police/officers, and a hefty fine at the end of the day.
You should only deal with people you have been introduced to, are known to you, or with friends!!

David.....

JimB:
Listen to what David50 says.  Read is post on this and you cannot go wrong.

David S:
Thanks for all your input guys.  I am sure others will chime in, but this gives me a good handle on things.

brett:
I would add that if you are going to a small city then take plenty of RMB. Changing foreign currency at a bank there will drive you nuts, and would you want to rely on your ATM card?

I can't remember the forex exchange rates I got, but the rate from a Chinese bank wasn't awe inspiring compared to what I got back home.

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