| money matters in China | |
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| Sep 2, 2005 05:30 |   |
 | Hi, I will be in Shanghai in 2 weeks from now. I will be converting my money (euro) into RMB when I get there. When I leave I will convert the RMB back into euro. I have heard there is a 30% charge when you convert RMB back into foreign currency in China, is this true? Also do vendors take euros as easily as they take dollars? Thanks in advance |
| Sep 2, 2005 07:49 | #1 |
| Hi Golem, I dont know from which country you are, but the Bank of China cooperates with the main European banks....you can use your bank card at BoC ATM to get money. If you want to convert it back into Euro you have to keep one of your exchange bills. Than there should be no problem. I havent heard of this 30% charge... Euro is accepted as well as USD in China - Euro travellers cheques, cash,....all of it. |
| Sep 2, 2005 09:50 | #2 |
| I agree with Elcabron,you can change the money in the BOC.I never heard of 30%! |
| Sep 2, 2005 11:00 | #3 |
| GOLEM: How much do you expect to exchange? Bank of China may ask for many papers and certificates before you get your currency. I heart about a black market near the banks, and especially near those who trade with foreign banks. Get a chinese friend to translate for you! These guys withdraw the cash from their account and it's ok. |
| Sep 2, 2005 21:09 | #4 |
| You can change money at the bank of China if you take your passport with you, they may ask you to fill in forms. Make sure you get a receipt with the complete date and your passport number, because if you want to change back to Euros you need to prove that the money was originally exchanged from foreign currency to RMB. There is no 30% charge. Some banks are lax on rules, others aren't. |
| Sep 3, 2005 10:54 | #5 |
| Don't change all your maoney on arrival. Get some idea about what you will spend and only change what you will need. This way you will not be left with too much RMB to change back if any. Be warry of money changers who hang around the city banks. They do not always offer the bank exchange rate. Check first so you are not short changed. |
| Sep 6, 2005 05:12 | #6 |
| Thanks everyone, very insighfull information |
| Sep 6, 2005 05:18 | #7 |
| Golem, Be careful with your money. It's "PRECIOUS!" This bad joke was brought to you by Gaz07, sorry guys, i couldn't resist :) |
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