steveben53

Whenever I am in Hong Kong my first port of call is always into the depths of ChungKing mansions - or more specifically to KSME money changers, deep into the rear of the building

tentseller

How were the $1000 bills?

steveben53

Never accept them - never accept anything higher than a HK$100.00, regardless of where it comes from, including the banks

pinniped

One other thing I learned using cash in Nepal:

- I had Canadian $20's that were of such a new design that several moneychangers didn't know what they were. They just pushed them back to me...didn't know what to do with them. Eventually I found a guy who recognized them and changed them without any issues.

- I also had some a couple U.S. notes that were very ratty...filthy, worn money. It also took 2-3 tries to change these: some moneychangers only wanted notes in good condition. Nothing torn, taped up, etc.

You can probably get away with the newest design on Benjamins, simply because everybody in the moneychanging world sees them so often. But anything else...if it's only been on the streets of your homeland for a couple weeks, don't expect that everyone in the developing world has seen it yet.

Badenoch

A clerk at one of the money changing outlets just off Piccadilly Circus in London was arguing she couldn't accept the new CDN bills just last year.

tentseller

I find CDN$ very disadvantaged when being used to change to local currencies abroad. one really takes a big hit on the rate due to the currency not being widely circulated.

My experience around SEAsia was one can change their CDN$ to US$ and then US$ to local currency and still be ahead.

Badenoch

I agree and rarely change CDN overseas preferring Euros, Sterling and USD depending on the country.

steveben53

Should you plan on using ATM's when abroad, make sure that you check your own bank's scale of fees for doing so. For example, shown below is a summary of the charges levied by Nat West Bank, a major bank in the UK

1) Foreign currency withdrawal from any cash machine abroad

We will charge a Foreign Cash Fee of 2% of the value of the transaction (minimum £2, maximum £5). We will also charge a Non-Sterling Transaction Fee of 2.75% of the value of the transaction.

If you elect for the transaction to be converted into Sterling at the point of sale or withdrawal, we will not charge a Non-Sterling Transaction Fee, however the transaction handler may charge you a separate fee.

2) Cash withdrawals or the purchases of currency or travellers cheques outside the UK
Purchases made outside the UK (for example, purchasing goods in a shop)

We will charge a Foreign Purchase Fee of 2.75% of the value of the transaction (minimum £1).