How Much Spending Money?
 

Hi All, I am traveling to Shanghai and Beijing for 2 weeks with my University in the Spring. Most of my expenses will be paid (i.e., lodging, transportation, admissions, etc). However, I am responsible for the cost of meals. Also, I really would like to pick up several nice gifts and souvenirs for myself and others back home. How much spending money (in US$) would you seasoned travelers recommend?<BR><BR>Thanks!

Every time I went there for a trip like this, I took $1000 with me, and always ended up with some extra. I believe $500 could be enough for me. But I never really calculated. You can eat fine food for cheap in China. The tricky part is how much you want to spend on souvenirs. I found myself spending extra money on those. But they are really nice. Have fun.

My suggestion is to bring a small amount of cash, like $200, including 50 one dollar bills. Use an ATM card for getting local currency, which will give you assurance that you can get all you will need, and no need to guess beforehand.

I agree with Dave and always use my Debit, not ATM, card in foreign countries. I've discovered that in some countries an ATM doesn't work. In China I did have to go into the bank one time as my Debit would not work in the machine.

Consult your card issuer's Web site for details of the locations of working ATMs. If your card is on either the Cirrus or Plus system, is a Mastercard, Visa card, Amex, or Diner's card, then there are ATMs open to you in China. Larger cities such as Beijing and Shanghai have ATMs in areas frequented by foreigners, including most major shopping malls. With the exception of Beijing Airport, these machines are only those operated by the Bank of China, and only a selection of those (despite the logos visible on the screen). Beijng and Shanghai also have branches of Citibank and Hong Kong and Shanghai Bank whose ATMs will accept just about any card ever printed.<BR><BR>There is no conceivable use for US$1 bills, but *fresh* larger bills can be exchanged in almost any branch of any bank at all, which is very convenient. The rate is the same everywhere, currently about Y8.21 to the US$ for cash.<BR><BR>Really your question about how much money to take is of the 'How long is a piece of string' variety--so taking some US$ cash (very good condition notes) and then using the ATM to draw what you need when you've seen what you want, is a good idea, (although those travelling outside Beijing and Shanghai really do need to make sure they've checked locations--in some provinces even tiny town ATMs accept foreign cards, but in some others not even the machines in the provincial capital do).<BR><BR>Some machines have a limit of around Y2500 per withdrawal, but usually do not object to several withdrawals of this amount.<BR><BR>In emergencies there's the expensive option of drawing cash over the counter at larger branches of the Bank of China. But the commission is 4%, plus whatever your bank charges you, and the minimum withdrawal is Y1200.<BR><BR>Hope that helps.<BR><BR>Peter N-H<BR>http://members.axion.net/~pnh/China.html<BR>

Thanks everyone for sharing your knowledge and advice with me. I am very excited about the trip as this will be my first time to Asia.<BR><BR>Thanks again!