Going to China

[Dalescott]

I am going to China for a Holiday for 15 days. Where is the best place to get Foreign currancy, and how much to take with us. We are going with Wendy Wu tours, and I would welcome any insight that people have.
Thank you.:mrgreen:

 

[Will]

Most banks in China do banknote/TC forex and have excellent rates. Much much much better than in Australia. I'd take over banknotes (better rate than TC in China) and change them at the banks. Alternatively, the Wizard Clear Advantage MC is an option, although lots of Chinese ATMs don't accept foreign cards.

As for how much - well how much do you want to spend? What do you buy? Bit difficult to give advice on how much spending money you need to take. But you should take enough cash/TC to cover what you might want - credit cards are still difficult to use in most parts of China.

 

[Dalescott]

Most banks in China do banknote/TC forex and have excellent rates. Much much much better than in Australia. I'd take over banknotes (better rate than TC in China) and change them at the banks. Alternatively, the Wizard Clear Advantage MC is an option, although lots of Chinese ATMs don't accept foreign cards.

As for how much - well how much do you want to spend? What do you buy? Bit difficult to give advice on how much spending money you need to take. But you should take enough cash/TC to cover what you might want - credit cards are still difficult to use in most parts of China.

Thanks Will,
As to how much, good answer, silly question.

 

[Lucky_man]

I take a couple of credit cards that have my saving account linked to them. If you look for the ATM with a Visa logo on it, it is likely to accpet your card and hand you RMB at good enough exchange rates.

It is not completely relieble and sometimes capped at 2000/3000 RMB per transaction and sometimes a daily cap too. Don't be surprised if on bigger drawings you need to do several withdrawls one after the other. The machines with Visa Logo's will normally offer to work in English.

DO NOT FORGET TO GET YOUR CARD BACK. Here the machines make you take the card before you get the cash. Not in China. It will hold it for a couple of minutes and then eat it. Walk away and the guy behind can use it or you may lose the card.

ATM's are convenient but not entirely reliable so I take a few hundred RMB as cash (left over from the last trip) to cover initial taxi's.

Small notes are important in China - try not to pay for a 15RMB taxi fair with a 100RMB note! Also do not be surprised if you change is rounded to the nearest whole RMB by default in hotels etc. If you really want that fraction of 20c you can normally get it by asking.

As to how much you will need - that depends - if you shop some where that accepts credit card in China you are almost certainly paying tourist prices - many restaurants etc do not take them. Some say they will but then it turns out they do not take foeign ones. So expect your whole trip to be cash.

In some places in China you will be asked to produce a passport to use a credit card. Try to get a PIN for your credit card accounts too - more accepted than signing.

I don't know Wendy Wu but have a hoot.

Zai Jian.

 

[FL360]

The Wizard C.A.M.C. worked in China, (as tested by myself), I withdrew cash
from an ATM with the MC logo in CAN last year. The forex rate used is as good as usual. (less than 1% of the true rate).

If I am you I will be slightly worried about the "shopping sessions" and the
possibility of getting a fake 100 RMB note...

read more on the web to prepare yourself for the fake 100 RMB and common tourist traps.

 

[Lucky_man]

...
If I am you I will be slightly worried about the "shopping sessions" and the
possibility of getting a fake 100 RMB note...
.....

Be careful and aware for sure. If your holiday would be soured by receiveing a few fake 100rmb notes then do not go to China. Though I have never had one that has been noticed by the person that I may have inadvertantly passed it onto.

On my first trip I paid 100RMB for a 20RMB taxi fare after the driver claimed not to have change (I am not so naive now). Truth is the taxi fair was still less than what it would have cost here. Take small rip offs as part of the fun!

 

[joeymelb]

I have been to China (Shanghai) recently. Use Cash (AUD) and exchange locally. Thanks to deregulated banking system there, the rates are very competitive without any commission or handling fees that Banks and Forex in Australia so like to rip us off on.

Further, I have no problem using my credit card there (in big Department stores), just make sure you watch your card carefully.

Good luck and enjoy the trip.

 

[joeymelb]

Forgot to mention, you can "bargain" in most of the privately owned and run Forex booth provided that you exchange a large sum.

I usually go to China just before School holiday ends, the Chinese students there (if you know who or have connections) will happily exchange their RMB with your AUD in bulk. Last time I was in Shanghai, I traded-in AUD$5,000 with a couple of locals for published rate on XE. Then exchange the leftover RMB in Australia with some tourists for even better rate (just show them what Flgiht Centre charges).

 

[auriga]

The 100 RMB note is the largest note they have, so you won't get it as change. One scenario I have read about is with taxi driver returning your note claiming it is a fake, when in reality, they had swapped your real note with a fake note.

 

[Lucky_man]

...
I usually go to China just before School holiday ends, the Chinese students there (if you know who or have connections) will happily exchange their RMB with your AUD in bulk. Last time I was in Shanghai, I traded-in AUD$5,000 with a couple of locals for published rate on XE.
....

The unpublished advantages of 'private exchange' are the likelyhood of getting dodgy notes and the possibility of getting free board and accomodation courtesy of the Chinese government.

The currency is controlled and restricted - while the Chinese have limitted control of what happens with it off shore they certainly watch it closely locally.

You should keep your docket for exchange - if you exchange back in China you may need to produce the reciept.

 

[MEL_Traveller]

I am going to China for a Holiday for 15 days. Where is the best place to get Foreign currancy, and how much to take with us. We are going with Wendy Wu tours, and I would welcome any insight that people have.
Thank you.:mrgreen:

I did post a reply to this but it seems to have gone somewhere!

In answer to 'how much' I'll give you the cost of some everyday items:

• alcoholic drink (eg vodka soda) in bar/club - 40-50RMB (cheaper at local bar
• alcoholic drink in upmarket bar restaurant - can be 70-80RMB
• big mac - 15RMB (although it could be 18!)
• main course at 'Element Fresh' (chinese (but western style) chain serving good cafeteria style food with waiter service and meals such as chilli beef with rice, or boneless chicken in blackbean sauce) - 50-65RMB
• Local restaurant - cheaper than above
• Up market restaurant such as hotel, or famous brand such as M on Bund - much more than above! (can be double or more just for main)
• weekend brunch at upmarket establishment (such as hotel, may or may not include a glass of champagne, yum cha, sushi etc) - 130-170RMB
• taxi (during day) - flag of 11RMB (includes first few kms) - then 2RMB per km after that (night is slightly more)
• litre of milk (7/11 store) - 9RMB
• can of coke 7/11 store) - 2-3RMB
• Shanghai underground - from 1RMB (the usual 8 stop ticket I get is 4RMB, prices similar in Beijing)

Other frequent visitors please feel free to correct the above or chip in!

 

[Will]

In answer to 'how much' I'll give you the cost of some everyday items:

• alcoholic drink (eg vodka soda) in bar/club - 40-50RMB (cheaper at local bar

At local convenience store - 1 bottle of rice wine (eg erguotou 二锅头) about 2-3yuan. In a restaurant - 4 yuan. Beers 2-3 yuan per long neck in local restaurants. In Sanlitun bars (in Beijing), 40-50 is about right.

• alcoholic drink in upmarket bar restaurant - can be 70-80RMB

Sky's the limit there!

• main course at 'Element Fresh' (chinese (but western style) chain serving good cafeteria style food with waiter service and meals such as chilli beef with rice, or boneless chicken in blackbean sauce) - 50-65RMB
• Local restaurant - cheaper than above

Sounds like you had expensive tastes! In local restaurants, expect to pay 4-15yuan for a filling main at a family run place, 10-25 for a large main at a local (but large) restaurant. In the countryside, noodles for 2yuan a bowl, large mains 10-20yuan.

• Up market restaurant such as hotel, or famous brand such as M on Bund - much more than above! (can be double or more just for main

Agreed - some of the highest prices in the world can be found in China now.

• Shanghai underground - from 1RMB (the usual 8 stop ticket I get is 4RMB, prices similar in Beijing)

In Beijing I strongly recommend you consider getting their 一卡通 - like the oyster/octopus. From memory, 30yuan with 20yuan value pre-loaded? Tap on and off, and gets you 60% off bus fares. Pays for itself very quickly.

If you are on a tour this probably won't be necessary, but if you have some free time before/after it might be useful.

 

[savydog]

" In Beijing I strongly recommend you consider getting their 一卡通 - like the oyster/octopus. From memory, 30yuan with 20yuan value pre-loaded? Tap on and off, and gets you 60% off bus fares. Pays for itself very quickly.

If you are on a tour this probably won't be necessary, but if you have some free time before/after it might be useful."

I found these 2 sites helpful.

Beijing Subway Guide: of Tickets and Faregates | CNReviews

Walked into Wangfujing station, I had printed off " Chong bashi kuai qian (充八十块钱) " in a large font and handed over my my RMB100 note. The lady operator held back a laugh and proceeded to process my request.

I got the card and RMB80 credit. I used the card on the subway and bus and also used it for the airport express as I had a day flight to Xian. The airport express cost RMB25 the subway was RMB2 and the bus was RMB1 from memory.

Beijing Subway Guide: Map, Stations and Colors | CNReviews

Used this subway guide, example ; hopped on a few line changes to get out to the birds nest after dinner one evening. I am pretty sure it was RMB2 each way as the card charges you on exit from the system.

I found the beijing airport to be good rate for AUD note exchange even better was my hotel. I had my Wizard Card but only used it for purchases so can't comment on cash outs. The rate for purchases was very good and no extra fees.

Small notes are a must and I finally hit on exchanging a few 100's before leaving the hotel. We had been paying RMB10 for 2 tallies of beer and I only had RMB20 note's left. Confirmed RMB10 for 2, beers opened handed over the 20 and was told no change 10 each. Not worth arguing about, had to pay AUD3.50 instead of $1.75 for those 2 beers.

 

[fortymilliondaggers]

Small notes are a must and I finally hit on exchanging a few 100's before leaving the hotel. We had been paying RMB10 for 2 tallies of beer and I only had RMB20 note's left. Confirmed RMB10 for 2, beers opened handed over the 20 and was told no change 10 each. Not worth arguing about, had to pay AUD3.50 instead of $1.75 for those 2 beers.

I had almost the opposite experience - I did not encounter a shopkeeper anywhere in China who, with a little insistence, could not arrange change for a 100 for most purchases. A popular business will often be pleased to shorten their stack of tatty small notes. There's a real need for a higher denomination banknote, but given the already high inflation rate in China, there's clear political reasons why it hasn't hapened yet.

 

[savydog]

"There's a real need for a higher denomination banknote, but given the already high inflation rate in China, there's clear political reasons why it hasn't hapened yet."

After exchanging 5 crisp AUD$100's, I had 28 X 100 RMB notes in my wallet, I couldn't have fitted in a selection of smaller notes if I tried.

 

[2muchplastic]

I did post a reply to this but it seems to have gone somewhere!

In answer to 'how much' I'll give you the cost of some everyday items:

• alcoholic drink (eg vodka soda) in bar/club - 40-50RMB (cheaper at local bar
• alcoholic drink in upmarket bar restaurant - can be 70-80RMB
• big mac - 15RMB (although it could be 18!)

BIG MAC?? How could you?! Mind you I can't really criticise having eaten in Starbucks!

Avoid drinking in the western branded hotels if you don't want to be ripped off for alcohol. Their prices are set up just to rip off the wetern traveller who doesn't want to go out and ask. I remember sitting in a little "mom & pop" style restaurant where a long neck beer (750ml - ish) was 3RMB

• main course at 'Element Fresh' (chinese (but western style) chain serving good cafeteria style food with waiter service and meals such as chilli beef with rice, or boneless chicken in blackbean sauce) - 50-65RMB
• Local restaurant - cheaper than above

In most shopping centres/areas you can get can find some extremely good local restaturants doing some very good food very cheaply. In the area close to my company's office in Shanghai there are a several restaurants doing lunch specials such as 6-8 courses to serve 8 for 120RMB. I find it much cheaper to have a big lunch and eat light in the evening

• Up market restaurant such as hotel, or famous brand such as M on Bund - much more than above! (can be double or more just for main)

I don't know how big the bill was both times I've been in M on the Bund (as I didn't have to pay) but the waiter brought it over in a wheelbarrow ;-). There are some excellent fine dining style restaurants in Beijing and Shanghai, but with biiiig price tags to match.

• Shanghai underground - from 1RMB (the usual 8 stop ticket I get is 4RMB, prices similar in Beijing)

Other frequent visitors please feel free to correct the above or chip in!

Shanghai and Beijing underground extremely easy to use, with all instructions/announcements conducted in English as well.