When traveling abroad, one of the most important issues is Currency exchange in China. Without money, you can’t enjoy your travels! So in this piece, I will discuss currency exchange tips for China.
Currency Exchange In China:
China was one of the most interesting places for me in regards to money. There are a few things that you need to keep in mind when preparing your finances for international travel to China. One is to have plenty of clean, nontattered paper money. Secondly, bring a bank card with a Visa, or MasterCard logo on it. Thirdly, do not bring traveler’s checks or any other type of checks.
Currency Exchange Tips For China:
The reason why you will need plenty of clean, nontattered paper money is that China is pretty finicky about what type of paper money they will accept when they are exchanging your type of currency for theirs. A wad of wrinkled, ripped, torn-edges paper money typically will not be able to be exchanged for anything. Once when exchanging some money at a hotel in Beijing, I was hoping to exchange a rather neat paper bill for some Chinese currency ( properly known as Yuan), and it had a very minimally torn edge and they would not exchange it! This is bad news for travelers, especially if you need that currency exchanged in an emergency.
To get the most Yuan for your dollar, pound, or whatever your currency may be, you will want to make sure that you exchange it at hotels, not at places such as the airport, being that they will give you less than you would normally get somewhere else. It is kind of like paying a convenience fee on it if you exchange it at the airport.
Using Cash And Cards In China:
Another reason why you need plenty of paper money in China is because China is not big on using credit cards, debit cards, or any type of “plastic” money. You show them a card at their place of business and you will typically get a shake of the head in a “no, we don’t take that” type of manner. However….
I still suggest that you bring a bank card/credit card with a Visa or MasterCard logo on it because you will sometimes luck out and find ATMs and you will be able to get Yuan from these machines. Also, if you do decide to do fine shopping at some of the silk rug shops, jade emporiums, or anything of the like, they will take your credit card.
Using Traveler’s Checks In China:
Lastly, avoid traveler’s checks, or any type of check! They may be easy to use in other exotic travels, but not in China. The rate to cash them is pretty steep. It is also hard to find many places that will even cash them. If you do happen to find someone that will cash them, well they will take a couple of hours of your time to ID you, make sure the check is legit, and then process it. It is not worth the hassle!
Well, I hope you enjoyed reading these 3 tips to make your currency exchange process in China a successful one!
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