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China March 2008
Post: #1
Hello Cheryl
I am wondering what other currency/travellers chqs to take with me on this trip. Obviously I will be taking some Chinese currency, but not too sure if to take US dollars, Euros or just plain old English pounds. I would welcome any comments as I need to get myself sorted within the next week.

Regards

Irene
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Post: #2
Hi Irene,

I've put together some information for you on currency in China. I hope it helps, if you have any other questions please ask!

Beijing Duty Free
We have been advised that Beijing Duty Free are only accepting US $ and not Sterling £ (they are of course accepting Yuan).

Currency Regulations
There is no limit on the amount of foreign currency and foreign exchange that can be brought into China by passengers, but if the amount is over $5,000 (£2000) this must be declared to customs.

You may also take up to 6,000 Chinese Yuan, this is approx £400. Most banks and post offices are able to order Yuan for you. Many main branches of Thomas Cook and Marks & Spencers Foreign Exchange hold currency available over the counter. You may also purchase Yuan at all major airports but the rate of exchange may not be as favourable.

Travellers Cheques
Certain hotels are refusing to accept Travellers Cheques with the following logos:
1 Visa T/C’s issued by Interpayment Services Ltd
2 Master Card T/C’s issued by Thomas Cook Ltd
Hotels and banks won't accept them. Amex is widely acceptable.

Currency Conversion
Money exchange facilities for both currency and traveller's cheques are available at major airports, hotels, and department stores. Exchange rates fluctuate in line with international financial market conditions.

Currency rather than credit cards is essential in remote areas, and you should ensure that you carry sufficient Yuan and traveller's cheques to cover your requirements.

Banks
Will only accept notes in perfect condition. The smallest tear or defacement will result in your cash being refused. UK visitors should note that Scottish or Northern Ireland bank notes are NOT accepted.

Credit Cards
At present, the following credit cards are accepted in China: Master Card, Federal Card, Visa, American Express and Diners Card. Holders can draw cash from the Bank of China and pay for purchases at exchange centres of the Bank of China, appointed shops, hotels and restaurants. However, this applies only in major cities. ATMs that accept foreign cards are few and far between. Do not rely on them as a way of obtaining cash in Mainland China.

Consult with your bank before departing to make sure that your brand of cheque or credit card will be accepted.

Have a wonderful time, i'd love to hear about it when you get back!

Kind regards,

Cheryl, your editor
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