China Odyssey Tours Frequently Asked Questions
- Will our Credit Cards be accepted in China?
- Are there any ATM services in China?
- Can I use US dollars or other foreign currencies in China?
- Is it possible to use my credit card to withdraw money from hotels?
- How can I pay you? What kinds of payment ways do you accept?
- What's the currency used in China? What's the exchange rate between your currency and the US dollar?
- When I finish my tour in China if I still have some local money, what can I do?
- Where to exchange currency in China?
Will our Credit Cards be accepted in China?
Most major credit cards are accepted in hotels and shopping malls in China. Being that many small shops and restaurants may not accept credit cards, it's strongly advised to have sufficient Chinese currency with you. If you are only using a credit card, inform your bank beforehand to lift cash withdrawal limits.
Are there any ATM services in China?
Most banks in China have ATMs, just check if the logo or symbol of your credit card is shown on the ATM when using it. The main offices of the Bank of China in most cities especially in major tourist cities usually have ATMs friendly to foreigners. In addition, ATM is also available in some five-star hotels.
Are foreign currencies like US dollars acceptable in China?
Major international currencies like US dollars, euros, and pounds are readily accepted in hotels or when buying things from vendors outside scenic spots and tipping the hotel porters, drivers, and guides. While businesses like department stores, small convenience stores, local restaurants, and street vendors only accept RMB (Chinese yuan).
Is it possible to use my credit card to withdraw money from hotels?
The answer is positive but there are drawbacks that you should notice: you have to wait up to one hour or a day to wait for the money to come because it needs the authorization of the issuing bank of your credit card. Besides, very few hotels provide this service. The best way to withdraw money from your credit card is to go to the office of the Bank of China, while a certain amount of commission for the withdrawal is needed.
How can I pay you? What kinds of payment ways do you accept?
For our client's convenience, we accept various kinds of payment:
1. All major credit cards - both faxed authorization form and by Paypal payment gateway;
2. Wire Transfer (bank transfer, TT transfer);
What's the currency used in China? What's the exchange rate between your currency and the US dollar?
Renminbi (RMB) or Chinese Yuan (CNY) is the same official currency used in mainland China. Yuan (also called Kuai in Chinese) is the basic unit and is divided into 10 jiao/mao or 100 fen. There are banknotes in denominations of 1, 2, 5, 10, 20, 50, and 100 yuan and coins in demonstrations of 1 yuan, 1 and 5 jiao, 2 and 5 fen. But small-demonstration bank notes and coins like fen are scarcely used today. To learn about the exchange rate, please refer to BOC Exchange Rate.
When I finish my tour in China if I still have some local money, what can I do?
A small remnant of the Chinese currency, not more than 6,000 CNY can be kept and brought out of China. Exchange them into your country’s currency if it is an excessive amount. If you need further help to deal with the local money, your tour guide is a good source to ask.
Where to exchange currency in China?
Airports, banks, ATMs, and most star-rated hotels are the place where you can get your currency exchanged into Chinese yuan. The exchange rate is regulated as the official rate. Do not trust any currency exchangers in the street, or you'll risk being a fraud with huge losses.
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