Foreign Exchange at PEK
Dec 18, 2013 | 9:48 pm
#16
Join Date: Oct 2012
Posts: 771
1) In my view, an ATM card is the best way to get cash. The Chinese ATMs do not charge a fee; the fees are from your bank. Obviously try to minimize those if you can. There are plenty of ATMs after customs. Don't worry.
2) China uses cash a lot more, and credit less, than the US. You can use credit at more expensive places, but you'll often be hit with high foreign exchange fees. If you want to buy things at a street market, you'll need cash. Taxis? Cash. Drivers? Usually cash. Good news is food is generally cheap, and so are souvenirs.
2) China uses cash a lot more, and credit less, than the US. You can use credit at more expensive places, but you'll often be hit with high foreign exchange fees. If you want to buy things at a street market, you'll need cash. Taxis? Cash. Drivers? Usually cash. Good news is food is generally cheap, and so are souvenirs.
I went to my banks site and the next problem is that i have a 5 digit PIN on my debt card and they recommend changing it to 4 digits as most international ATMs only accept 4 digits.
so it seems if i go outside of customs , with draw 300 dollars worth it should be cheaper than using exchange service ...since i am only charged 5 USD form my bank and the exchange service charage 50 RMB which from what i converted is around 8 USD.
Dec 18, 2013 | 10:43 pm
#17
A FlyerTalk Posting Legend
Join Date: Dec 2000
Location: Shanghai
Posts: 46,325
Every bank account I've had in China has required a PIN of at least 6 digits (so your fear does not apply).
Dec 19, 2013 | 4:20 am
#18
Join Date: Dec 2007
Location: Bay Area
Programs: BA - Blue
Posts: 4,720