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Exchange rates
Feb 24, 2008 13:16
  • SPOERLE
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When using a debit card and ATM you normally get the Interbank exchange rate. You have to add the fee you have to pay to your bank at home. Say 5 Euro for an amount of 3000 Yuan = the money costs you 1,7 percent.

What exchange rate can I expect when exchanging cash = Euro into Yuan at a Chinese bank in Shanghai? And do I have to pay a commision?
Thank!
Feb 26, 2008 08:11
#1  
  • JABAROOTOO
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There is no commission on exchanges of cash.
You will just get the advertised rate. However you may not wish to carry large sums of cash around with you while travelling.

In fact if you are buying foreign currency there is also no fee or commission but it is hard to do without the appropriate paper work.
Feb 26, 2008 17:10
#2  
  • ERENCIUS
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Actually I always had to pay commissions, I guess it depends on your bank's nationality. No matter you withdraw money from an ATM or use it to pay, you 'll have to pay a commission for it.
Feb 27, 2008 01:50
#3  
  • SPOERLE
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Of course you always have to pay for the service of a bank. That is correct. You pay commission or a bad exchange rate.
But what is now (February 2008) the exchange rate
for buying Yuan in China. (NOT the Interbank rate)
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