Understanding China, One Blog at a Time

An American in China

Before Exchanging Money in China, Read this Post

Posted by w_thames_the_d on June 30, 2011

Excellent post on what it is like to change money in China. Seriously it is a long post but will prepare you for your travels to China.

This post is from serenityinchina.wordpress.com from here
This afternoon Julianne and I headed to a Bank of China location that I’ve used several times now for exchanging RMB in Canadian dollars, and doing international money transfers too.
I did all of my usual overkill preparation because I know a trip to the bank in China is never without surprises and often involves situations that foreigners cannot conceive of as possible.
For those outside China considering living and working here I’ll share the list of things I bring with me to the banks here.
1. passport
2. Foreign Expert Permit
3. a copy of my contract
4. my home country bank account number and general info (transit#/location, street address)
5. all past money transfer papers (so the bank officer can refer to it when she forgets how to do something/doesn’t know what to do something)
6. ***a native speaking Chinese friend (often CRITICAL to any kind of success with even simple banking tasks)
7. a statement of income signed and stamped by my university
8. any and all other papers, things, rabbits’ feet, lucky charms, four-leaf clovers, etc
And even then don’t even dare to think that your efforts will be successful . . .
Let me explain.

continue here

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