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 using only credit card, inform your bank beforehand to lift cash withdrawal limits.
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, euro 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).
The answer is positive but there are drawbacks that you should notice: you have to wait up one hour or a day to wait for the money 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 go to the office of Bank of China, while a certain amount of commission for the withdraw is needed.
How can I pay you? What kinds of payment ways do you accept?
For our clients' conveniece, we accept various kinds of payment:
1. All major credit card - 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 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 bank notes 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 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?
Small remnant of 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 as 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 fraud with huge lose.
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