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Old Sep 28, 2014, 12:43 am
  #46  
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Originally Posted by travelsg
sorry to bring up an old thread... I'm heading to PVG next month, and wondering if I can still use BoA card to withdraw cash from China Construction bank free of charge. I just need to get some emergency cash for taxi, food, etc.
No. BofA still owns ~10% of 建行 (down from ~30%), but the free ATM party ended at least 2 years ago. This was a blessing in disguise IMO because it compelled BofA slaves to find better banks (e.g. walking around town on Sunday nights trying to find 建行 ATMs that actually had money was not cool!).

Btw, I'm also planning a domestic flight to another city, it seems I can use credit card to buy the ticket (on China Eastern website), but is it going to be e-ticket? (i.e., a PNR code will be generated after purchase, which I can use to check in?)

Thanks in advance...
Yes. It will be an e-ticket no matter where you buy it.
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Old Sep 28, 2014, 10:50 am
  #47  
 
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Thanks, moondog. What do you suggest the best way to get some cash? Is there any other party going on, or just use any ATM and pay the fee?

It's nice to know the e-ticket is going to work, because some of my friends was telling me they have to delivery the ticket to an address, which scared me.
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Old Sep 28, 2014, 11:10 am
  #48  
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Originally Posted by travelsg
Thanks, moondog. What do you suggest the best way to get some cash? Is there any other party going on, or just use any ATM and pay the fee?
Yes. Get an account at a bank or a credit union that does not charge ATM fees for out of network transactions. Schwab is the most popular such bank in these circles, but it is by no means unique.

It's nice to know the e-ticket is going to work, because some of my friends was telling me they have to delivery the ticket to an address, which scared me.
In order to offset taxes in China with business expenses, it's necessary to submit official 发票 (i.e. email confirmations are meaningless), and eticket receipts qualify (this is probably why your friends made a big deal about it). If you really need your eticket receipt, you can either have it held at the airport or sent to an address (in China) that you specify.
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Old Sep 28, 2014, 11:12 pm
  #49  
 
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Sounds like it's time to call my banks, and see who has better ATM fees..

I don't need an receipt, since it's a personal trip. As long as I can check in at the airport with my passport, that will be fine.

again, thank you for answering all the questions..
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Old Sep 29, 2014, 10:37 pm
  #50  
 
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How much are their ATM fees? It is probably less than the hassle and costs involved in changing bank. It is not just about which bank that you deal with, it also depends on what package you have.
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Old Sep 30, 2014, 12:59 am
  #51  
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Originally Posted by JPDM
How much are their ATM fees? It is probably less than the hassle and costs involved in changing bank.
For people who only travel to other countries once a decade, you MIGHT have a point about the hassle factor. But, IME opening accounts at credit unions is an extremely quick process.


It is not just about which bank that you deal with, it also depends on what package you have.
No minimum balance and no ATM fees are the two most relevant criteria insofar as this topic is concerned, and accounts with these features are very common at credit unions and regional banks in the US.
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Old Sep 30, 2014, 7:26 pm
  #52  
 
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I was there fairly recently and couldn't find ANY ATM's anywhere in the airport. Since then I've found if you exchange $600 or more at AAA in this country there is no commission and the exchange rate is highly competitive. As far as the China Construction Bank, I couldn't find any sign of them anywhere in Shanghai (and I was only in Shanghai).
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Old Sep 30, 2014, 8:09 pm
  #53  
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Originally Posted by maltasr
I was there fairly recently and couldn't find ANY ATM's anywhere in the airport. Since then I've found if you exchange $600 or more at AAA in this country there is no commission and the exchange rate is highly competitive. As far as the China Construction Bank, I couldn't find any sign of them anywhere in Shanghai (and I was only in Shanghai).
There are many ATMs at PVG.

I guess there's not much point in honing in on CCB any more now that the BofA partnership has lost most of its fizz, but CCB is extremely prevalent in Shanghai (in fact, I chose them as my main bank in Shanghai for this reason):

http://map.baidu.com/?newmap=1&ie=ut...B8%8A%E6%B5%B7
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Old Sep 30, 2014, 10:39 pm
  #54  
 
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Originally Posted by moondog
There are many ATMs at PVG.

I guess there's not much point in honing in on CCB any more now that the BofA partnership has lost most of its fizz, but CCB is extremely prevalent in Shanghai (in fact, I chose them as my main bank in Shanghai for this reason):

http://map.baidu.com/?newmap=1&ie=ut...B8%8A%E6%B5%B7
Agree and pretty easy to find as you walk into the main hall after passing customs.

@Moondog - about your Credit Union comment, remember that not everybody here is American.
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Old Sep 30, 2014, 11:10 pm
  #55  
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Originally Posted by JPDM
Agree and pretty easy to find as you walk into the main hall after passing customs.

@Moondog - about your Credit Union comment, remember that not everybody here is American.
I realize this, but I have been guessing that there are similar institutions in other countries. I have had an even stronger hunch the small bank phenomenon is --more or less-- global. Speaking from my experience in the US again, in order to compete against BofA, Citi, and Wells Fargo and their massive ATM networks, regional banks (as well as online only banks) typically don't charge out of network ATM fees, and many reimburse fees charged by host ATMs.
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Old Oct 1, 2014, 8:57 am
  #56  
 
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Originally Posted by moondog
Are you sure about that? I've read Discover tacks on 2% in foreign currency fees. Also, "widely accepted," appears to be a bit of a stretch.
Agreed: Discover is not widely accepted.
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Old Oct 1, 2014, 9:31 am
  #57  
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Originally Posted by bridgeair
Agreed: Discover is not widely accepted.
I posted that 4.5 years ago, and was flat out wrong. Discover is accepted at all union pay terminals... whether or not the operators of them know it.
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Old Oct 1, 2014, 12:09 pm
  #58  
 
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Originally Posted by maltasr
Since then I've found if you exchange $600 or more at AAA in this country there is no commission and the exchange rate is highly competitive.
Do you have to be a AAA member to do this?
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Old Oct 3, 2014, 9:47 am
  #59  
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Originally Posted by moondog
I realize this, but I have been guessing that there are similar institutions in other countries. I have had an even stronger hunch the small bank phenomenon is --more or less-- global. Speaking from my experience in the US again, in order to compete against BofA, Citi, and Wells Fargo and their massive ATM networks, regional banks (as well as online only banks) typically don't charge out of network ATM fees, and many reimburse fees charged by host ATMs.
It was reported in USA media a couple days ago that out-of-network fees are higher than they've ever been, averaging over $4 per transaction.

Some countries have cheaper alternatives to bank accounts, such as postal accounts in Germany, but they're not necessarily based on some affinity group as USA credit unions require. In the USA, we have state banks, federal savings banks, federal savings and loan associations, etc. but they are not intended to be full service commercial banks and generally cannot easily handle foreign checks or other international transactions IME.
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Old Oct 3, 2014, 9:56 am
  #60  
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Originally Posted by MSPeconomist
It was reported in USA media a couple days ago that out-of-network fees are higher than they've ever been, averaging over $4 per transaction.

Some countries have cheaper alternatives to bank accounts, such as postal accounts in Germany, but they're not necessarily based on some affinity group as USA credit unions require. In the USA, we have state banks, federal savings banks, federal savings and loan associations, etc. but they are not intended to be full service commercial banks and generally cannot easily handle foreign checks or other international transactions IME.
As long as they can facilitate fee-free withdrawals from ATMs in foreign countries, they are well suited for most travelers (i.e. use a different account for complex transactions if need be).
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