Major FAQ-China English teaching
Money
Are ATMs easily available? If yes, which debit and credit card are accepted?
Credit cards such as American Express, Diners Club, JCB, Master and Visa are accepted at the local large hotels or tourist stores. You also can withdraw cash from most international banks and credit cards from ATM machines, but $2-4 USD surcharges apply for each transaction.
What is the local currency and how do I know the exchange rate?
RMB is the only currency to be used in China . China 's currency mainly consists of notes, which come in denominations of 1, 2, 5, 10, 20, 50, 100 RMB. Money exchanges by cash or traveler's checks can be made at various branches of the Bank of China or Commercial Bank of China . Current exchange rates can be found using our currency converter. Currently, $100 USD bought RMB (CNY) 798 Yuan.
Where do I exchange my money and how much?
You can cash your traveler's checks or exchange your paper notes at the various branches of the Bank of China , hotels and tourist stores , airport bank offices, etc. Therefore, we recommend the exchange of small bills at all times.
How much money should I bring with me?
It is suggested that you bring US$300 and cash it into Chinese RMB after arrival at a Chinese airport. The money will be sufficient to cover the first 2-3 weeks for shopping and groceries.
Is it safe to carry cash with me?
Carrying cash is not safe. Please don't carry a large surplus of cash because many Chinese are concerned with thieves.
Important Reminder: Retain your receipts whenever you exchange any currency or traveler's checks to Chinese Yuan. You may be asked to show proof of the exchange. Without receipts, you will not be able to exchange Chinese currency back to any other currency upon your departure.
|
