Travelers Cheques, Credit Cards, Cash
An experience with money in China can be a major lesson in Chinese culture and can be baffling to western views of how money is perceived. China is a cash society so you will need to exchange your U.S. currency for RMBs to efficiently make purchases in China. The hotel offers exchange services but often limits the amount to be exchanged each day.
I STONGLY ADVISE that you not bother with travelers cheques. They can be difficult and sometimes almost impossible to use in China. We wasted an hour at a bank last fall simply cashing a travelers cheque. You may get advice from your local bank or other vendors here in the U.S. that their cheques can be used in China. DO NOT BELIEVE THEM! Yes, they can probably be used but you would have to go to a specific bank to exchange. You can bring travelers cheques and try to use them but be prepared to bring them back home. We will not have time to stop at a bank so please have multiple exchange options.
You can easily exchange U.S. currency but you will probably want to limit how much you bring. I suggest bringing hundred dollar bills based on how big a spender you are. Make sure the bills are new, clean with no markings. The Chinese WILL NOT exchange money that has any kind of writing or markings on it or looks old! Cash can be exchanged at the hotel and will require your passport to process the exchange.
You can use credit cards in most stores and state owned gift shops. For purchase from vendors on the street or purchases in antique and night markets you must have cash. It is also wise to have small bills and not ask for change from large bills. They will insist that you buy more and hold the return of your change. They will give it back but you may not be accustomed to patience required to gracefully and firmly decline additional purchases. You can also use bank cards at ATM machines to obtain RMBs but we are not always near one and we cannot make special stops. If you plan to make large purchases, it might be a good idea to let your credit card company know that you are going to China. You cannot get RMBs outside of China.
If by chance you have difficulty exchanging in a timely fashion and need a small amount to get you through a day, I am sure our group will be bonded enough to help you out with a short term loan. Hotels have hours for exchanging funds and usually we can get it done in the evening after we arrive at the hotel or in the morning prior to departure. Please plan ahead so our bus departure is not held up because you are exchanging money.
I STONGLY ADVISE that you not bother with travelers cheques. They can be difficult and sometimes almost impossible to use in China. We wasted an hour at a bank last fall simply cashing a travelers cheque. You may get advice from your local bank or other vendors here in the U.S. that their cheques can be used in China. DO NOT BELIEVE THEM! Yes, they can probably be used but you would have to go to a specific bank to exchange. You can bring travelers cheques and try to use them but be prepared to bring them back home. We will not have time to stop at a bank so please have multiple exchange options.
You can easily exchange U.S. currency but you will probably want to limit how much you bring. I suggest bringing hundred dollar bills based on how big a spender you are. Make sure the bills are new, clean with no markings. The Chinese WILL NOT exchange money that has any kind of writing or markings on it or looks old! Cash can be exchanged at the hotel and will require your passport to process the exchange.
You can use credit cards in most stores and state owned gift shops. For purchase from vendors on the street or purchases in antique and night markets you must have cash. It is also wise to have small bills and not ask for change from large bills. They will insist that you buy more and hold the return of your change. They will give it back but you may not be accustomed to patience required to gracefully and firmly decline additional purchases. You can also use bank cards at ATM machines to obtain RMBs but we are not always near one and we cannot make special stops. If you plan to make large purchases, it might be a good idea to let your credit card company know that you are going to China. You cannot get RMBs outside of China.
If by chance you have difficulty exchanging in a timely fashion and need a small amount to get you through a day, I am sure our group will be bonded enough to help you out with a short term loan. Hotels have hours for exchanging funds and usually we can get it done in the evening after we arrive at the hotel or in the morning prior to departure. Please plan ahead so our bus departure is not held up because you are exchanging money.
posted by Daniel at
5:58 PM
