Originally Posted by PhlyingRPh
Agreed. Unfortunately, this is the most hassle-free way to ensure you have the money when you need it while traveling around Asia. A quick word with a concierge, or even with Bank clerks will help you get a better exchange rate "on the street". I have never had a problem with these semi-official (read: unofficial) money changers yet. They definitely offer better service than Citi or Grindlays and you always get a better rate.
This may work in some countries but NEVER do this in China.
1. It's illegal.
2. Near western hotels, there are many foreign exchange locations that sell counterfiet currency.
3. You don't want to see in the inside of a chinese prison.
The best place to withdrawl currency: ATM.
My solution: I opened up a free HSBC account that has ATM's/Branches in pretty much every asian country that I travel to...including China. The account has no fee's as long as you have an activiity once per month. I just dump money into my account before I leave the USA and depost the remaining foreign currency the day before I leave.
Richard: Sorry to hear about your troubles. I hope you made it out ok.