USD (Cash) in China

[audelair]

It seems like people in the past have had problems with bank tellers rejecting their cash?

 

I have some nice crisp $100 bills. They are all in decent shape, and have the big Franklin head on it, although some of them are as old as 1996 (can't see a difference between those and the 2003's).

 

As long as they are fairly new, crisp, and have the big head, is that going to be ok? The teller wasn't able to give me better ones here at my local bank, so it seems it would be a hassle for me to go around trying to get better bills!

 

Thanks for any advice.

[sleepless in Houston&CQ]

It seems like people in the past have had problems with bank tellers rejecting their cash?

 

I have some nice crisp $100 bills. They are all in decent shape, and have the big Franklin head on it, although some of them are as old as 1996 (can't see a difference between those and the 2003's).

 

As long as they are fairly new, crisp, and have the big head, is that going to be ok? The teller wasn't able to give me better ones here at my local bank, so it seems it would be a hassle for me to go around trying to get better bills!

 

Thanks for any advice.

 

 

I was told by the bank in China and here in the states at Chase Bank they only take 2001 and newer bills, clean, not torn. I always order them from my bank Chase and in a few days they have my new bills small and larger.

I have passed some older ones off a few times but other times I was handed them back

The Chinese teller saying "No Good"

 

Bobby....

[audelair]

I was told by the bank in China and here in the states at Chase Bank they only take 2001 and newer bills, clean, not torn. I always order them from my bank Chase and in a few days they have my new bills small and larger.

I have passed some older ones off a few times but other times I was handed them back

The Chinese teller saying "No Good"

 

Bobby....

 

Thanks, I will go back to the bank on Monday and try to get newer bills!

[izus]

i never had any issues like that and i remember changing money at the bank more then once.

 

why dont you just bring a debit card a draw RMB out of the tellers there as you need it.

[LeeFisher3]

I was told by the bank in China and here in the states at Chase Bank they only take 2001 and newer bills, clean, not torn. I always order them from my bank Chase and in a few days they have my new bills small and larger.

I have passed some older ones off a few times but other times I was handed them back

The Chinese teller saying "No Good"

 

Bobby....

 

Thanks, I will go back to the bank on Monday and try to get newer bills!

They got me with this same one as well, one bill had an 1/8 tear in it and they rejected it.

 

But on the flip side my wife and I stood there for 30 minutes examining the bills given and I rejected anything with the least amount of flaw and telling them "bu hao". With the current exchange rate it sure gives you more bills to examine and reject.

[izus]

ive tried to get rid of a ripped 100 dollar RMB the last 3 times ive been there....

 

 

when in rome

[frank1538]

Yeah, the banks can be pretty particular when it comes to dollars - no marks, no tears, no fading.

 

But remember it cuts both ways

 

http://candleforlove.com/forums/index.php?...ost&p=41069 :

 

While we're on the subject of money, I did have an interesting experience with exchanging dollars at BOC. Before I left for China, I took about $500 in hundreds with me. When I went to exchange them at BOC, the lady rejected three of hundreds (not new enough, too faded, not crisp enough). I gave her others to convert. I know this was not unusual, particularly at BOC, but that day it really bothered me.

 

As she start counting out 100 yuan notes, I kept saying "bu hao" and started rejecting her 100 yuan notes, and I demanded crisp, less faded notes. I haven't seen too many Chinese ladies blush as much as this teller did, but I figured turn around was fair play.

[johnxiaoying]

Yep, they've pissed me off more than once with their pickiness over the bills. What's irked me the most is when my wife went to pick up money sent through Western Union and her name came out reversed in their system. They refused to give her the money even though she knew the amount and the tracking number.

 

They're in the drivers seat and by god they let you know it. So much for customer service.

[Stone]

There is another alternative: use American Express Traveler's checks. If you are a member of AAA or a gold member of your bank, they can usually sell you the Travelers checks for free. I was in China a few months ago, and I used both cash and Travelers checks. Travelers¡¯ checks have higher exchange rate, which is offset by the 0.75% fees. So they came out almost EXACTLY the same when converting to RMB. Travelers¡¯ checks have the additional advantage of Piece of Mind in case you lose the cash.

 

I have also thought about Western Unioning myself to pick RMB up in China when I travel there. I have not tried this route as yet. But I think it is slightly more expensive than the other two approaches. I do not like the idea of using ATM in China, since your U.S. bank account is potentially exposed to unscrupulous parties through those international withdraws.

[audelair]

There is another alternative: use American Express Traveler's checks. If you are a member of AAA or a gold member of your bank, they can usually sell you the Travelers checks for free. I was in China a few months ago, and I used both cash and Travelers checks. Travelers¡¯ checks have higher exchange rate, which is offset by the 0.75% fees. So they came out almost EXACTLY the same when converting to RMB. Travelers¡¯ checks have the additional advantage of Piece of Mind in case you lose the cash.

 

I have also thought about Western Unioning myself to pick RMB up in China when I travel there. I have not tried this route as yet. But I think it is slightly more expensive than the other two approaches. I do not like the idea of using ATM in China, since your U.S. bank account is potentially exposed to unscrupulous parties through those international withdraws.

 

I am a member of AAA, but I think they only offer Visa traveler's checks (not American Express). Do those work ok there?

 

Thanks for the advice!

[Stone]

There is another alternative: use American Express Traveler's checks. If you are a member of AAA or a gold member of your bank, they can usually sell you the Travelers checks for free. I was in China a few months ago, and I used both cash and Travelers checks. Travelers¡¯ checks have higher exchange rate, which is offset by the 0.75% fees. So they came out almost EXACTLY the same when converting to RMB. Travelers¡¯ checks have the additional advantage of Piece of Mind in case you lose the cash.

 

I have also thought about Western Unioning myself to pick RMB up in China when I travel there. I have not tried this route as yet. But I think it is slightly more expensive than the other two approaches. I do not like the idea of using ATM in China, since your U.S. bank account is potentially exposed to unscrupulous parties through those international withdraws.

 

I am a member of AAA, but I think they only offer Visa traveler's checks (not American Express). Do those work ok there?

 

Thanks for the advice!

 

I do not believe Visa traveler's check would work in China. See this:

 

http://www.boc.cn/en/common/third.jsp?category=1099361557100

 

AAA might have swithced from American Express traveler's check to Visa Travelers' check. The last time I heard people went to AAA to buy traveler's check for China trip was quite a while ago. You may inquire at your bank to see what they can offer.

Edited December 3, 2006 by Stone (see edit history)

[whutthapho]

There is another alternative: use American Express Traveler's checks. If you are a member of AAA or a gold member of your bank, they can usually sell you the Travelers checks for free. I was in China a few months ago, and I used both cash and Travelers checks. Travelers¡¯ checks have higher exchange rate, which is offset by the 0.75% fees. So they came out almost EXACTLY the same when converting to RMB. Travelers¡¯ checks have the additional advantage of Piece of Mind in case you lose the cash.

 

I have also thought about Western Unioning myself to pick RMB up in China when I travel there. I have not tried this route as yet. But I think it is slightly more expensive than the other two approaches. I do not like the idea of using ATM in China, since your U.S. bank account is potentially exposed to unscrupulous parties through those international withdraws.

Bank of China will scrutinize your signature VERY closely, on the AMEX traveler's check. One visit, I endorsed 8 in front of the teller, only to have her and her manager tell me that 2 of the eight signatures were forged. Think about that logic...I sign my signature eight times...looks the same...only to be told that 2 of eight signatures are forged...but they agree to cash the other 6 I signed at the same time.

 

It only costs $7 to send up to $1000 via Western Union, then you can pick it up in RMB. Make sure you request it to be sent in local currency (RMB).

[Tony_onrock]

Every time they examine my RMB 100 bills I have to reassure them that it is really good quality freshly made at home for them to accept it. It really worked. I was given a fake one once by a cab driver and tried the same joke when they start to examine it. It worked and I was able to have 4 different people accept it. Of cause after they accepted it I told them it was fake and took it back.

Finally I dropped it on the street one day to give some one else a chance to pass it off.

[jbray]

I had nothing but trouble when trying to exchange money in China. It's best to get the USD's as crisp and as new as possible. I was in a small town. They wouldn't take my 20's because they had a fold in them. I ended up taking them home and ironing them...

 

I have never understood why more people don't just take a check card. That's what I usually use, and I have never had a problem (as long as it's at Bank of China). That way, you only have to take as much cash as you need, and you aren't carrying all that extra cash with you. I've been to 25 countries (Europe, Middle East, Africa, and Asia) and have only had problems in Laos (at the time, there was only one ATM in the country).

 

At Bank of China, the ATM's are in English (make sure you hit the English button... If you don't, it get's interesting ).

[audelair]

Argh! I have gone to 3 branches, and apparently they can't go into their big stash of cash. They can only give what other customers gave them or what they have in their cash register.

 

So after going to 3 branches, I'm still stuck with 7 imperfect bills. There are no rips in them, but there is noticeable wear in the middle of the bill, where it's usually folded (like inside a wallet). This is very normal, but will this be scrutinized and rejected by BOC tellers in China?

 

I was hoping I wouldn't have to run to the bank again tomorrow, as I really was only planning to make one trip to take care of money (lol).

 

So are slightly imperfect bills (no marks, no rips, but slight wear in the middle) from 2003 worth worrying about? Or should I just go and enjoy my trip

 

Actually I was stuck with 12 imperfect bills, but I ended up depositing the 5 worst ones back into my bank account. These last 7, i'm really wondering what to do with them