Hi all,

Which is the best method to take money to China? I don't think its safe to bring along hard currency, so I'm wondering, which is more widely accepted and cheaper to use: visa travel money or Travellers Cheques? I would buy some usd to exchange them to rmb arriving there.

Edited 1 time(s). Last edit at 04/15/2011 10:24AM by Olive.

travellers cheques are definately best as if they get stolen they will be replaced. Hard cash works also, I just made an exchange today @ 6.47RMB = 1 USD. Keep in mind hard cash is inspected closely, funny watching her find ever safety strip , hologram and changing ink colors. Last trip over i got to keep 150 USD as they would not accept the 50's

Only certain banks will do a currency exchange Bank of China is one and it must be a main branch.

Just dont deal with the crowd in front of the banks waiting to pounce on the foreigner to give you a better exchange rate. They wanted to give me 6.5 per 1 USD. My thought was as soon as i opened my wallet i would have been hit over the head or better yet they will follow you. and to think i could have made an extra 15 RMB.

Thanks for the tips. Ooh, I guess I'd better leave the old dollar bills at home then.

Traveler's cheques are not accepted outside of 1st tier cities like BJ, SH, etc.

Cash is still best. Chinese folks routinely carry millions in cash wrapped up in newspapers & plastic bags to buy cars and condos while westerners are afraid that their few hundred bucks will be stolen. What a difference in culture...haha!

If you are afraid, just deposit your money in a bank account, get an ATM card and withdraw whatever you need to use.

@Astroboy Yes, coming from Brazil, I'm instinctively afraid of carrying lots of money. I always use debit/ credit cards but I know China is ok. The ATM card will be the best solution.

You said it Astro, its a cultural difference. I am just very leery of dealing with private individuals and the way i was pounced on by multiple people while trying to enter the bank and then them standing in the windows holding a calculator trying to wave me outside。 Yes I was nervous as I have had a few friends jumped at the atm's, knocked in the head or better yet held at gunpoint in america while getting thier few hundred bucks.

My thought was it is best for me as a foreigner to deal with a bank and bank employees that way I know exactly what to expect. I paid for peace of mind.