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Money in China
Oct 3, 2005 18:45
  • ELI22
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Hi All,
I intend to travel China as a backpacker for 6 months especially in the south & southwest parts of the country.I wonder should I open a bank account in China? Is it recommended ?if you say no,by what means should I bring money with me(TC,credit card,accessible cash??)and what proportion (percent )of the total budget should I allocate for each alternative ?
Oct 3, 2005 22:27
#1  
That really depends on where you are going to visit.For the major cities, Credit card is acceptable in most of big stores.And as a back packer, that maybe means that you are in budget travel. Do prepare some cash in case. And it could save your comission whilist you withdraw cash from Banks.Like anywhere in the world, always keep your cash safe.Good luck.
p.s. you may open a account in a bank. but if you travel to another city, commission is still charged.
Oct 3, 2005 23:52
#2  
  • RMAYEKAR
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  • Join Date: Aug 26, 2004
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In my opinion, traveler's checks in China are more of a pain than anything else. If your signature varies only the slightest, they will reject it and you're stuck with nothing. I used my atm card to get money out. It's the fastest, most reliable way and you get the best exchange rate. Wherever there is a bank, there will be an atm. But be careful...if you get your pin (personal id number) wrong even by one number, they will cancel your card. Security issues I guess.
Oct 4, 2005 01:02
#3  
  • KYLE
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Hey there,

I would say open an account. For six months youll need a good chunk of money, unless you plan on working. Throw all the cash you got into an account and then its really easy to get. I have had noooooo problem any where in asia carrying money on me. As long as you are not flashing it around and you keep it in a safe place you should have no problem. ( A little bit of good Karma always helps as well) Depending where you are in the south it can be soooooo cheap or sooooooooooooooo expensive. Hong Kong and Gaungzhou are outstanding while Nanning and Kunming are so cheap. Good luck, if you need any help I'll be around.

Kyle
Oct 4, 2005 08:20
#4  
  • ELCABRON
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Hi Eli,

I dont know where you are from but the Bank of China cooperates with many banks. Ask your bank at home, because I could use my bank card (not even a credit card) at all the ATM of the BoC, which is on nearly every second corner in most cities.

But I also carried traveller cheques with me, was no problem.
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