USD (Cash) in China

[jbray]

I recommend ironing them. You would be surprised how crisp you can get them... But, I have also heard of people having problems with bills that were TOO crisp (but I have never experienced this)...

 

Also, be aware that they will be looked over pretty closely for being counterfit.

 

I never have any problems with counterfit American money, but had lots of problems with "counterfit" RMB. I have no idea how they could tell. To me, they looked fine, but when it happened, several different stores/sellers refused to take the bills.

[izus]

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!

 

if you go through BoC its just as safe as going through an american bank over here.....

ATM is by far the safest and most convenient....

sure you pay for the transaction ....

what is it 2-3 bucks....

 

juts be sure to not forget your debit card in the ATM machine when you are finished....

which i did i BeiJing

 

then left for Hong Kong the following day and didnt realize i was missing it till then.

that was fun trying to get my bank to wire my money to a western union...

 

needless to say i had my money by that evening waiting for me at western union.

[Stone]

Last year I sent my wife some money through Western Union. She picked up RMB at one of the Agriculture Bank of China branches in China. No problem. The exchange rate she got was the same for American Express Travelers' checks, higher than the cash exchange rate.

 

I do not remember how much I paid for the Western Union transaction, probably along the line of $7 per $1000 as someone has suggested. The 0.7% fee with WU was actually cheaper than cashing American Express Travelers' checks which is 0.75%.

 

So all things considered: fees, convenience and safety, WU might just be a good option. You just send money to yourself before you go via WU, to pick up RMB currency at China Post or Agriculture Bank of China branches. Do not use WU internet option. You pay less fee in WU stores or branches. I had quite a few occasions to be returned the imperfect $100 bills and I was very frustrated by that.

[izus]

Last year I sent my wife some money through Western Union. She picked up RMB at one of the Agriculture Bank of China branches in China. No problem. The exchange rate she got was the same for American Express Travelers' checks, higher than the cash exchange rate.

 

I do not remember how much I paid for the Western Union transaction, probably along the line of $7 per $1000 as someone has suggested. The 0.7% fee with WU was actually cheaper than cashing American Express Travelers' checks which is 0.75%.

 

So all things considered: fees, convenience and safety, WU might just be a good option. You just send money to yourself before you go via WU, to pick up RMB currency at China Post or Agriculture Bank of China branches. Do not use WU internet option. You pay less fee in WU stores or branches. I had quite a few occasions to be returned the imperfect $100 bills and I was very frustrated by that.

 

western unioin is such a hassel though...

i live on my debit card over here in the US

i never have cash on me

 

so for me it worked perfect

[SirLancelot]

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.

 

Did you really do this Lee? I can't believe they allowed you to do that. If I was the teller behind the window, I would have just waved you aside and called for the next customer. There's no customer service so I wouldn't have cared if you had a complaint. It's China and the currency dispensed by the bank is legal and tender in China. So long as I gave you the correct amount of Chinese RMB, that would have been all.

 

I've also had my fair share of one hundred US dollar bills rejected because they didn't look brand spanking new. Now a days, I always ask the bank on the US side to give me as fresh looking bills as possible because I'm going overseas. My bank does try to accommodate me as much as possible.

 

If you must bring cash, definitely ask for as new and fresh bills as possible. It's not a big deal in the US because the US banks are forced to accept old and half torn money, but certainly foreign banks are NOT required to accept any currency wish they deem not acceptable. So it's to your own advantage to bring NEW and FRESH US bills when visiting a foreign land.

Edited December 12, 2006 by SirLancelot (see edit history)

[toy_rn65]

I never pay too much attention to the USD bills that I took with me to China, but they do examine them like performing an autopsy.

 

Last time there, I had trouble with 2 $100 bills being not crisp enough. I had them soaked overnight in hot water at the hotel and then iron them dry in the morning. Then I went to a different bank and it worked like a charm.

[skibum]

Everyone should do as Lee recommends. Over the long run it might help the problem get better. Most tellers just do the exchange for ones you don't like.

[Yuanyang]

I never had any problems. Usually I had a wad of 20s from the US ATM machine and a mix of 20s, 50s and 100s from the bank all in various conditions. The hotels we stayed in never balked about the exchange.

 

I did see a 30 minute pi$$ing contest between our dinner hostess and the restaurant staff over a 500RMB note she was using to pay.

[kangjie]

I had the same problem trying to exchange money at the hotel. 'Too old'. It stressed me out. I'm wondering why every body seems to use western union instead of emoney gram to wire money?.

[Randy W]

I had the same problem trying to exchange money at the hotel. 'Too old'. It stressed me out. I'm wondering why every body seems to use western union instead of emoney gram to wire money?.

 

You pay a high price with either for using your credit card and the internet. WU is much cheaper and allows a bigger transfer when you take cash to an agent location.

 

Western Union uses China Post for agent locations in China - my wife's family would have to take a trip to Nanning to pick up an emoney transfer.

 

Unless I'm missing something.

[rogerluli]

I never had any problems. Usually I had a wad of 20s from the US ATM machine and a mix of 20s, 50s and 100s from the bank all in various conditions. The hotels we stayed in never balked about the exchange.

 

I did see a 30 minute pi$$ing contest between our dinner hostess and the restaurant staff over a 500RMB note she was using to pay.

 

A 500RMB NOTE !!! Wow I've never even seen one of those suckers...

 

Is it like a $1000 bill???

[bosco]

I've traveled to many places in China that are well off of the beaten track that wai guo ren usually travel. I've gone days without seeing a BofC ATM. As such, I always take $600 in $20's and only use them when there is no other option. In every town there is always at least one bank that can exchange cash but again, I've been to many places where an ATM was not an option.

 

So far, the only non BofC ATM I've found where I could get cash is at a small Citi Bank branch between the International Hotel Beijing and the Beijing Opera.

 

As for exchange problems, I've only had one $20 note rejected and if I ever had a bad RMB note I am not aware of it.

[MikeandRong]

I never had any problems. Usually I had a wad of 20s from the US ATM machine and a mix of 20s, 50s and 100s from the bank all in various conditions. The hotels we stayed in never balked about the exchange.

 

I did see a 30 minute pi$$ing contest between our dinner hostess and the restaurant staff over a 500RMB note she was using to pay.

 

A 500RMB NOTE !!! Wow I've never even seen one of those suckers...

 

Is it like a $1000 bill???

 

http://coins.search.ebay.com/500_China_W0Q...gZ1QQsofocusZbs

[RLS]

I'm bringing this whole discussion up again because I want to see what the current thinking is. Who recommends bringing cash, who suggests traveler's checks? What kind? I also had a problem with exchanging $100 bills at the bank. They looked them over for several minutes. They would put some aside that they didn't like and they looked perfect to me. Who's the pro in this area?

[shaffej7070]

I didn't have a problem exchanging dollars for yuan at the airport in Guangzhou and they weren't perfect, crisp bills. I did have a problem, however, at a bank in the city when the teller rejected $50 bill that had a little tear on the edge.