dergon darkhelm

It seems that my local banks don't order in yuan/RMB.

Do people just wait until they get there to exchange?

Have a reliable service to get some currency before they go over?

Any help appreciated as always.

civicmon

I wouldn't really worry about it myself. The airports are typically loaded with ATMs and they all should take US ATM cards. Some on the streets won't, but Bank of China always did. Think China Construction Bank but not 100% sure on that.

I typically go to an ATM at the airport and take out as much as I think i'll need to help prevent return trips but the 3% fee my f'n bank charges still adds up. YMMV on that fee though, but I'm pretty confident Chinese ATMs don't charge their own fee.

Jamoldo

If you have a Bank of America acct, tell them you are going to China and the China Construction bank ATMs will all work and won't charge fees. Boc ATMs usually work, and I've had no troubles with ICBC or Bank of Communications machines either. Agricultural Bank atms have never worked for me though.

Best idea if you have cash to exchange (assuming Beijing T2). Leave customs and turn right. There is an Agricultural Bank right there and you can exchange money into RMB at near market prices (little arbitrage for them to make a little money) with no fees whatsoever. Sure beats paying 5 USD fees inside customs at Thomas Cook and Travelex (though there they speak English and they won't outside). Then again, one never had to speak much when exchanging money... hope this helps.

moondog

Yeah, AgBank is the only one there that changes all amounts of forex to non-account holders sans service charges, though the Minsheng Bank immediate to its left has slightly better rates (I didn't know this was possible in China, let alone Beijing) if you convert at least $500.

Of course, I agree that ATMs are the way to go, but if you're coming from a country you don't visit often (and have cash left), the airport is a convenient option (because you'll definitely have your passport with you).

Beijing'sMama

I lived in "suburban" China and found the BoC ATM's to be more tempermental than any of the others. I maintain a US account at Compass Bank whose motto is no ATM fees at any machine on the planet. A week or so before I go I deposit my spending money to that account and I'm good to go.

traveltot

If you are arriving at an airport gowith the ATM option. Even if you do get charged a fee by your bank it most times will still be a better exchange rate than what the official money changers (travelex included) will give you.
Also in PVG airport atleast there is a 50 RMB admin fee when you change your currency to RMB. There is another 50 RMB charge to change it back.
Finally, make sure you keep your ATM receipts or money changer receipts as these are required to change backk any and all your money when you are leaving China. I believe it is intended to make currency controls easier fo rthe govt.