Taking Cash to China

[shutterme2]

I was wondering if anyone knows how much cash you can take into China. I am going to open a bank account when I am there, I don't want to do the wire transfer thing.

 

So I need to carry the cash with me!!

 

 

Your input will be greatly appreciated

[shutterme2]

I looked at several of the older post on the topic of "getting money to china"

 

But they all had replies of money transfers, ATM's Ect.....

 

 

I AM LOOKING FOR REPLIES FOR TAKING CASH!!!!

[tonyuab]

well, my wife lost her bag at beijing airport and i wish we didn't bring the cash. if there is no cash in the bag, i might get the bag back.

 

anyway, i will just go the bank of China and pay 3% fee to get cash there instead by using visa checkcard.

[pkroger]

I don't believe there is any limit on the amount of cash you can bring in to China if it is in U.S. dollars. I think there are some restrictions on bringing Reminbi into China. You are also supposed to report to U.S. customs if you are taking more than $10K out of the U.S.

[mlspyl]

Scott:

 

I did the same as you. I have my own bank account in China. US regulations state if you take more than $10,000 you must report it (to who I don't know).

 

I have taken large sums of cash with me (under the limit stated above) to deposit in my account. However, I wear a "ski" money wallet that hangs around my neck. If you are going to carry the money be careful.

 

 

Mark

[shutterme2]

I guess I could put 10k in each pocket to be under the limit!

[johnxiaoying]

My wife was showing me some information on a Chinese language website about new changes taking place on July 1st. In general as I recall (I had to put it into Babel Fish Translation) there is a limit of $5000 usd coming in.

 

Also those arriving will have to make a declaration of what they are bringing into the country and they will be checked (or possibly checked at random on departure) to see what they are leaving behind. The limit for goods is 2,000 yuan that can be brought in and left (gifts).

 

I hope to see an English version of this so that I can be sure. If anyone sees anything be sure and post it.

[obxtrainman]

I took travelers checks. It is easy to find a bank of

china. some of the hotels will change for you, for a small % based carrying fee. I was in a pinch to cash some in a "4 star" moldy smelling , worst Hotel I stayed in. This was in Xi'an. The banks were closed, I needed cash to pay for my airfare back to Biejing. Anyway, the manager come up with the cash for a 7.3 exhange. As most of you know, the rate has been 8.3. My was wasn't happy about it. I tried to explain to her it Is the way of the world.

 

Any way, the chasiers will look your checks over for many minutes, a few more will be involved, before she counts the checks and cash several times, before she finally hands it too you.

 

I was never checked entering , they didn't know what I brought in. I think it is only a little yaun you can take in. It seems like maybe 800rmb

[vibes1313]

Also when taking cash to deposit, try to get new bills if possible. There's so much fake currency in China that the banks will not accept marked, torn, worn, etc. bills. I learned this the hard way.

[Dan R]

As long as the transfers are under 10,000 they are not reported. Personally I prefer transfers to the risk of carrying a lot of bills.

 

Hmmmm do we really believe China would stop the flow of $ into the country? Seems odd. On the other hand the United States is desperate to slow the flow. They may just be trying to enforce the existing laws on limits.

[frank1538]

Hmmmm do we really believe China would stop the flow of $ into the country? Seems odd. On the other hand the United States is desperate to slow the flow. They may just be trying to enforce the existing laws on limits.

Probably not, but I don't doubt some speculators are buying RMB now at 8.27 or there abouts. If China goes through with its devaluation, say to 7.00 or about 15%, that's a pretty good return if the devaluation occurs in a year or so and you are able to buy dollars at the devalued price.

 

They don't call it speculation for nothing.

[shutterme2]

I did the same as you. 

 

I have taken large sums of cash with me (under the limit stated above) to deposit in my account.  However, I wear a "ski" money wallet that hangs around my neck.  If you are going to carry the money be careful.

 

Mark, have you ever been checked when entering China, and what kind of

"ski" money wallet are you speaking about?

[tonyontherock]

There is no limit on taking money out of the U.S. , you just have to file a form and declare it with the U.S. government. Even if you are bringing in cash, open an account at the bank of china and convert it. Then you can use it at ATM machines. I normally convert with my bank in Hong Kong and there is no charge. Pick pocket is a major problem. One way to ensure safty is to have a sewn in pocket ( or several ) on the inside of your clothing.

[Guest ShaQuaNew]

was wondering if anyone knows how much cash you can take into China. I am going to open a bank account when I am there, I don't want to do the wire transfer thing.

 

So I need to carry the cash with me!!

 

 

Your input will be greatly appreciated

 

 

A wire transfer from a US Bank to a Chinese Bank is your very best bet. First, carrying large amounts of cash is extremely unwise for clear reasons. Second, transferring money by wire offers protection to you and your funds that cannot be found using any other method. It's efficient, fast, and protected.

 

Talk first to your local bank and ask a person in a senior level position about this. They may or may not be familiar. If they are not, consider changing banks to one that is familiar with making international transactions.

 

J & L

[skibum]

I always carry most of my cash as well as my PP in my Ski wallet also. These were given out by Ski Magazine as a promotion and are very handy but they are not water proof as my PP gets soaked with sweat.

 

For larger amounts of money, I always use AmEx travelers checks which I get free through my Fidelity account.

 

I have never been checked at customs when I have entered China. I don't think they care what you bring in. You do have to declare amounts of $10,000 or more to the US govt. This is a rule to stop money laundryring by drug dealers. This applys also when you make a $10,000 deposit in your bank here - the bank is required to notify the govt.

 

Do you realize that FDIC does not cover your deposits in Chinese banks?