New Money

[danb]

Hello. I have a question about the new U.S. 100 dollars bills. I think the new style was just released last month. I am going to bring some cash with me on my next trip to China. Will it be any problem using the new 100 dollars bill in China at say at the banks and the larger hotels?

 

http://i949.photobucket.com/albums/ad334/dnoblett/Misc%20Junk%20for%20posting/new100_zps89f1311b.jpg

 

Thanks. Danb

[dnoblett]

There is always the possibility, a few years back, I had a few problems the banks would refuse bills with the old small oval design.

 

If possible I would see if the bank can get you older bills, with the large Ben Franklin, to avoid any issues.

 

http://i949.photobucket.com/albums/ad334/dnoblett/Misc%20Junk%20for%20posting/filepicker-Gpra9RzYSpy22XaW3EK9_100_dollar_bill_zpsc2a09e3d.jpg

[NickF]

I've also had problems in the past with "damaged" bills. Some Bank of China branches would refuse bills with even the smallest tear, and I had a couple of them rejected because "they are too old." I've begun asking my bank here in the USA to give me the best bills they have.

[tsap seui]

I only exchanged money one time and that was on my first trip to China. On the other trips I just Western Unioned a load of loot ahead of the trip to my girlfriend (then wife) and let her deal with making sure the Chairman Mao's were new....LOL Too easy and No fuss, no muss.

 

I never even carried any money on me the whole 7 trips. My wallet usually stayed in our home or a hotel safe and Wenyan carried my passport for me. Hell, I don't even have any cash in my wallet in America. I've been "trained" well by Chairman Moe's daughter. or is that

 

tsap seui

Edited December 3, 2013 by tsap seui (see edit history)

[NUWORLD]

I only exchanged money one time and that was on my first trip to China. On the other trips I just Western Unioned a load of loot ahead of the trip to my girlfriend (then wife) and let her deal with making sure the Chairman Mao's were new....LOL Too easy and No fuss, no muss.

 

I never even carried any money on me the whole 7 trips. My wallet usually stayed in our home or a hotel safe and Wenyan carried my passport for me. Hell, I don't even have any cash in my wallet in America. I've been "trained" well by Chairman Moe's daughter. or is that

 

tsap seui

 

 

Yep, same here too.

I'll just do a wire transfer from my business account to our account in china about

2 weeks before we leave.

 

As for walking around with money in my pocket, WTF is that? never saw anything like that in

my pockets before!

 

Passport always stays in the house.

 

Some times if we need some quick cash we'll use the ATM at BOC.

Never had any problems with the ATM's

[PandaMaker]

We just exchanged some of the new 100s at a bank here in China. Their machine could not read the new bill, but they accepted the bills regardless. They were really mesmerized by the blue strip running down the middle of the bill hehe. But yes, expect problems using these. We were lucky.

[dnoblett]

Yes that blue hologram stripe is cool, my wife got one a couple weeks ago, there are several neat security devices in the new bills.

[danb]

Thanks for your suggestions.

 

I think I will put most of my new 100 dollars into my BOA checking account and use my ATM card. I really don't want any surprise on my upcoming trip. I hope that BOA still has a partnership/understanding about using ATM's from China Construction Bank. I usually try to use them. Or i will use the Bank of China's ATM. Thanks guys. Danb

 

I

[Randy W]

Thanks for your suggestions.

 

I think I will put most of my new 100 dollars into my BOA checking account and use my ATM card. I really don't want any surprise on my upcoming trip. I hope that BOA still has a partnership/understanding about using ATM's from China Construction Bank. I usually try to use them. Or i will use the Bank of China's ATM. Thanks guys. Danb

 

I

 

Thanks for your suggestions.

 

I think I will put most of my new 100 dollars into my BOA checking account and use my ATM card. I really don't want any surprise on my upcoming trip. I hope that BOA still has a partnership/understanding about using ATM's from China Construction Bank. I usually try to use them. Or i will use the Bank of China's ATM. Thanks guys. Danb

 

I

 

Yes, they do

[johnxiaoying]

I've also had problems in the past with "damaged" bills. Some Bank of China branches would refuse bills with even the smallest tear, and I had a couple of them rejected because "they are too old." I've begun asking my bank here in the USA to give me the best bills they have.

 

I experienced the same problem and delighted in rejecting back their bills with any minor issues.

 

Now I just carry ATM and PayPal cards which seem to give a slightly better exchange rate than bills.

[Guest ExChinaExpat]

Hello. I have a question about the new U.S. 100 dollars bills. I think the new style was just released last month. I am going to bring some cash with me on my next trip to China. Will it be any problem using the new 100 dollars bill in China at say at the banks and the larger hotels?

 

http://i949.photobucket.com/albums/ad334/dnoblett/Misc%20Junk%20for%20posting/new100_zps89f1311b.jpg

 

Thanks. Danb

 

Dan, I have never seen a hotel in China that would accept foreign cash. They will readily accept your credit card in exchange for payment however. Can you explain why you want to take US cash to China? Surely you can bring it and exchange it here. There are many cash exchange windows at all major Chinese airports. You will always have better luck with them than any Chinese bank exchange. One can never tell the level of experience with the person waiting on you in the bank. They are likely to be easily intimidated when they are asked to exchange US currency and reject it outright. Even if they do accept it, you will spend a lot of time filling out and signing paperwork and many bank workers cannot speak English.

 

The other options are to withdraw money from an ATM to get Chinese cash.

[Doug]

Some places will accept credit cards we use in the USA and some not. Some places cannot process the USA credit card at all, because they process only the European type cards with a chip in them or something, not the mag stripe on the back like ours. I want to say, some ATMs were the same way. American Express told me they are trying to get a card like the European cards, for travelers.

 

Damaged bills are not useful, make sure all corners are on the bills, in fact no damage.

 

My wife takes me to the money exchangers that sit outside one of the banks downtown, and they give us a slightly better exchange rate than the bank. The bank people did not seem to care either., but no damaged bills accepted. Now maybe these folks need some time with the new bills.

 

PS: I carry CASH always in my front pockets, and I keep both US and RMB there. I also carry, at least, one Yuan coins, just incase I want, or NEED, to ride a city bus, like when it is raining and you can't get a Taxi because they are all in use.

 

I also got the passport card that my wife not only carries all the time, but I leave it with her in China when I return to the USA. It is not useful for travel between countries, but the card is perfect for ID within China, and for my wife to buy train tickets before I arrive. It is about the size of a credit card, and has a different number on it, but so what, it works. I keep the regular passport book in my travel bag always, and let it sit in the bedroom no matter where we go.

Edited December 5, 2013 by Doug (see edit history)

[danb]

I agree with you guys the new 100 dollars are kinda cool looking. I hope they will help prevent counterfeiting, but who knows. I went to the B of A yesterday and like Randy mentioned I can use the CCB and avoid the interbanking fees. I have used American money at the Yong Jiang Hotel in Nanning several times. I think that they have to adhere to the posted exchange rates. The same that a bank has to. I have used the money exchnage service at several airports out side of China. Most of the time the exchange raten was very poor. I remember once in St. Louis the exchange was less than 75 cents on the dollar. I never plan to do that again. Usually most of my money will come from the ATM's but sometimes I bring a little extra in US dollars. It can be a hassle to exchange the money at the bank or the money exchange. A copy of my passport is needed. And finding some one to help is sometimes a hassle. Worse case I can always ask my Lao Po or her sister -in-law to help me. Most that US money usually gets channeled to my Lao Po anyways. I do have one of those passport cards but usually leave it in my wallet. I usually carry my cell phone and a copy of my passport when I moving around the town.

 

Here is another question. Who usually registers with the local PBS when they are not staying in a hotel? I advocate doing it but my Lao Po always says it isn't necessary. The only time we did it was when we got married. Last year went to Chengdu and stayed at a service hotel/apartment but I can't remember what we did in that cause. What do you guys think/do? Thank you. Danb

[Randy W]

I agree with you guys the new 100 dollars are kinda cool looking. I hope they will help prevent counterfeiting, but who knows. I went to the B of A yesterday and like Randy mentioned I can use the CCB and avoid the interbanking fees. I have used American money at the Yong Jiang Hotel in Nanning several times. I think that they have to adhere to the posted exchange rates. The same that a bank has to. I have used the money exchnage service at several airports out side of China. Most of the time the exchange raten was very poor. I remember once in St. Louis the exchange was less than 75 cents on the dollar. I never plan to do that again. Usually most of my money will come from the ATM's but sometimes I bring a little extra in US dollars. It can be a hassle to exchange the money at the bank or the money exchange. A copy of my passport is needed. And finding some one to help is sometimes a hassle. Worse case I can always ask my Lao Po or her sister -in-law to help me. Most that US money usually gets channeled to my Lao Po anyways. I do have one of those passport cards but usually leave it in my wallet. I usually carry my cell phone and a copy of my passport when I moving around the town.

 

Here is another question. Who usually registers with the local PBS when they are not staying in a hotel? I advocate doing it but my Lao Po always says it isn't necessary. The only time we did it was when we got married. Last year went to Chengdu and stayed at a service hotel/apartment but I can't remember what we did in that cause. What do you guys think/do? Thank you. Danb

 

Follow your wife's lead on that - she'll know if there's a problem.

[credzba]

I agree with you guys the new 100 dollars are kinda cool looking. I hope they will help prevent counterfeiting, but who knows. I went to the B of A yesterday and like Randy mentioned I can use the CCB and avoid the interbanking fees. I have used American money at the Yong Jiang Hotel in Nanning several times. I think that they have to adhere to the posted exchange rates. The same that a bank has to. I have used the money exchnage service at several airports out side of China. Most of the time the exchange raten was very poor. I remember once in St. Louis the exchange was less than 75 cents on the dollar. I never plan to do that again. Usually most of my money will come from the ATM's but sometimes I bring a little extra in US dollars. It can be a hassle to exchange the money at the bank or the money exchange. A copy of my passport is needed. And finding some one to help is sometimes a hassle. Worse case I can always ask my Lao Po or her sister -in-law to help me. Most that US money usually gets channeled to my Lao Po anyways. I do have one of those passport cards but usually leave it in my wallet. I usually carry my cell phone and a copy of my passport when I moving around the town.

 

Here is another question. Who usually registers with the local PBS when they are not staying in a hotel? I advocate doing it but my Lao Po always says it isn't necessary. The only time we did it was when we got married. Last year went to Chengdu and stayed at a service hotel/apartment but I can't remember what we did in that cause. What do you guys think/do? Thank you. Danb

I believe it depends on how long your staying.

I have only registered once, and it was after I'd been there 3 weeks... I was a little concerned there would be trouble.

But, no trouble, and it seems like I read you have 1 month to register.

 

Sorry, all vague and no facts but check on how long you have to register.