Where to exchange Euros into Yuan?
Aug 30, 2014, 10:20 pm
#31
Join Date: Dec 2007
Location: PEK and BOS
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Posts: 4,530
Dear flyertalk-members,
I am pretty new to this forum and already have a question surrounding change of cash in China.
I will need to change 6.000 EUR - or I will need around 48.500 RMB there. What would you suggest as the best (and cheapest) way to get the RMB-cash?
Thank you very much in advance!
I am pretty new to this forum and already have a question surrounding change of cash in China.
I will need to change 6.000 EUR - or I will need around 48.500 RMB there. What would you suggest as the best (and cheapest) way to get the RMB-cash?
Thank you very much in advance!
If you are just visiting (and one could ask: why would a visitor need so much cash?!), then just bring cash and exchange at a bank. Generally, for this sum, you'll be better off, and less hassle, than repeating using ATMs.
tb
Aug 31, 2014, 12:04 am
#32
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Join Date: Dec 2000
Location: Shanghai
Posts: 42,031
Welcome to FT. You've received some good advice. The question is: are you just visiting China, or do you live and work here? If the latter, I would recommend bank transfer -- a bit of a pain, but you don't need to worry about carting a lot of cash around. The exchange rate is good.
If you are just visiting (and one could ask: why would a visitor need so much cash?!), then just bring cash and exchange at a bank. Generally, for this sum, you'll be better off, and less hassle, than repeating using ATMs.
tb
If you are just visiting (and one could ask: why would a visitor need so much cash?!), then just bring cash and exchange at a bank. Generally, for this sum, you'll be better off, and less hassle, than repeating using ATMs.
tb
Last edited by moondog; Aug 31, 2014 at 12:10 am
Aug 31, 2014, 1:24 am
#33
Join Date: Dec 2007
Location: PEK and BOS
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My US bank (Schwab) let's me withdraw {$50k less the amount I've already transacted since January 1 of any given year}, which I can immediately deposit into my Chinese bank account at the same ATM. I use my Huaxia account whenever I do this because most of their ATMs in BJ/SH permit Y10,000 per pull. You might be thinking that since many machines are light on money at the end of the weekend, this plan is flawed, but as long as it has 10k or more in it, you'll be able to reuse those bills up to 30x over. For Y100,000 (ten pulls/pushes), the drill requires about 15 minutes, BUT there's no red tape to overcome, and weekends/holidays are a non-issue.
However, it's a good tip: I didn't know one could deposit such large amounts at ATMs so easily...and that the cash is recycled!
tb
Aug 31, 2014, 2:54 am
#34
Join Date: Aug 2014
Posts: 2
Thanks a lot - in essence it is good to go directly to BoC and make the exchange.
Aug 31, 2014, 2:59 am
#35
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Sep 2, 2014, 3:09 pm
#36
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Sep 2, 2014, 5:57 pm
#37
Join Date: Jan 2005
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We changed euros to Yuan at one of several bank outlets at the Shanghai airport upon arrival. Very easy transaction and usually English speaking tellers. If you call your home town bank they will gladly steer you to the closest ATM in whatever Chinese city you'll be visiting.
Sep 3, 2014, 1:23 am
#38
Join Date: Dec 2007
Location: PEK and BOS
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Posts: 4,530
We changed euros to Yuan at one of several bank outlets at the Shanghai airport upon arrival. Very easy transaction and usually English speaking tellers. If you call your home town bank they will gladly steer you to the closest ATM in whatever Chinese city you'll be visiting.
tb
Sep 3, 2014, 2:02 am
#39
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I'm guessing they gave him a decent exchange rate, and charged him Y50.
Sep 3, 2014, 4:08 am
#40
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We only changed several hundred dollars and the rate we received was what I considered to be a reasonable exchange rate according to the paperwork and exchange tables I had brought from home.
Sep 20, 2014, 1:50 pm
#41
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Was this located before or after customs? Also what time of day did you arrive? My flight is scheduled to land around 9:00 PM. I assume that these places stay open as long as there are flights arriving, but want to be sure.
