Currency Exchange Online Tips
Currency Exchange Online Tips: Converting Currencies of the World to Chinese Money (RMB, or Renminbi) in China.
Converting Money to Chinese RMB in China
Here are some currency Exchange Online Tipstips about changing money and using credit cards in China:
- It is possible to exchange traveler's checks or cash at most banks but is not guaranteed, and hotels in major cities normally have a money exchange counter.
- Cash advances are available on most common credit/debit cards, such as American Express, Visa, MasterCard, but this facility may only available from the main branch of the Bank of China in most Chinese cities. A fee of 3%-4% might be charged.
- It's a good idea to consult your credit card provider for travel information before leaving your home country.
- You are required to present your passport when changing money and traveler's checks.
- Hotels will usually only allow you to change money if you are guest at the hotel.
- The RMB is not easily convertible in the international market so it is only usable in China. It is advisable to
change only the money that you need for your trip, as it may be difficult to change it back to your preferred currency later.
- You can convert unused RMB to another currency in China by producing the receipts from your original purchase of RMB in China. This exchange can be done at the airport before you leave China.
- There is a foreign exchange private market which you don't want to get yourself into, so be careful.
- Major credit cards such as Master Card, Visa, JCB and American Express are accepted in major hotels and department stores. It's good practice to make sure that your credit card can be accepted before you make purchases.
- Credit cards cannot be used in most restaurants and small convenience stores.
- Airplane tickets can be purchased with credit cards.
- Credit cards can be used to get a cash advance in the main offices of the Bank of China.
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