Money Exchange Question for Fellow Canadians
 

I will be travelling to China (Beijing, Xian, Guilin & Shanghai) for 12 days in September and then off to Hong Kong for 12 days. I've been to HK before and we always take Cdn travellers cheques and exchange them for free at the local AMEX office.

My questions is what should we do for mainland China? I hear alot of advice from US travellers but not Canadian. I don't want to exchange to US $$ and then lose again when I exchange in China.

Can any fellow Canadians share their advice?

Thanks

I might have suggested getting Cdn travellers cheques and exchanging them for free at the local AMEX office, but I'm not Canadian so never mind. ;)

I never thought about an AMEX office in Beijing. That might be an idea. I will search the web.

Thanks!

BettyinToronto, a fellow Canadian here ...

We were in Beijing and Hong Kong a few weeks ago (the trip report is incubating at this moment).

On an earlier trip to HK I bought HK dollars at Accu-rate in Ottawa and then used my bank card in HK. On this trip--our first to the PRC--I found out that Accu-rate occasionally has RMB for sale, but they had none the week before we left. I took $100US that I had on hand as a back-up, but did not need to use it.

In the end, we used our Canadian ATM cards in both cities without any problems. The downside, as you are probably aware, is that most (or all?) Canadian banks charge a $5 fee for using a foreign ATM. We swallowed this, but minimized it by making a few withdrawals as possible.

There are two ATMs beside the luggage carrousel in Beijing airport (a Citibank and a Chinese bank--I forget which one). My wife tried one, I tried the other, we both got RMBs without difficulty. There is also a currency exchange booth beside the ATMs. We found ATMs in Beijing without too much difficulty, but we had to walk a bit. There are no shortage of them in Hong Kong.

Our hotel in Beijing--the Marco Polo--also exchanged US $ for RMB. I only found out through a conversation I overheard at the desk, so I don't know whether they would have exchanged Canadian funds.

I must say I never even thought about using travellers cheques.

Oh, one other thing: we found that our cash went a very long way in Beijing. Taxis, subways, admitance fees, and food was far less expensive than what we are accustomed to in France.

Anselm

Thanks for the information. I can hardly wait to see your trip report.

As I mentioned, we've been to HK 4x and never a problem with Cdn $ Travellers Cheques cashed for HK dollars. It was mainland China that was the unknown. Didn't want to have to pay exchange on US TCs if I didn't have to.

Sorry forgot to ask 2 questions.

1) Where in Canada?
2) How much did you get out in Beijing and how long were you there?

We're on a tour where everything is paid for but we'll want money for small purchases. We also have a free day in Beijing and then one near the end of the tour in Shanghai. I've heard horror stories about exchanging money, keep your receipt if you want to change back, but then they only change back to US$$.

BettyInToronto, we live in Halifax. I used Accu-rate in Ottawa because I am often in that city (in fact I am in Ottawa at this moment).

Unfortunately, all my receipts are in Halifax. I'll be back home on the 12th and will post some more information for you at that time.

Anselm

Hi BettyInToronto. I'm back, and I've looked at our withdrawal slips. This information may help you figure out how much you need for your free days in Beijing and Shanghai.

We were three adults traveling together for seven days in Beijing. Our hotel and internet connection went on our credit card; we paid cash for every other transaction, which included two meals a day (breakfast was included in our room price), taxis and subways each day, bottled water, the odd bottle of beer, admission fees, a bus trip to the Great Wall, and various items to take home, such as tea, a tea service, some silk fabric, and a couple of scrolls. We also taxied to and from the airport to our hotel. We spent 180 Yuan per day per person.

As I mentioned in an earlier post, we used our bank cards in ATMs. We gauged it about right, arriving back at the Beijing airport with 100 Yuan each to pay the departure tax. It seems to have been eliminated since our guide books were written. None of us bothered to exchange the leftover 100 Yuan we each had; we simply carted it back to Canada and passed it to my brother, who is, coincidentally, about to board a flight from Hong Kong to Beijing at this moment.

Anselm

Thanks for the details. That will help alot. I was surprised by the 100 Yuan for departure tax. Was it not included in the plane ticket?

Betty

Betty, we were using the Fodors China guide (2005) and the Rough Guide for Beijing (2004) and both indicated that there was departure tax of 90 Yuan for international flights to be paid in cash at the airport. So, were were a little surprised that no one had their hand out for it.

I just looked at our tickets. Air Canada included "Navcan and surcharges" in the fare itself and then added various taxes. It's probably in there, but isn't explicit.

Anselm

I just realized that half of my post was appallingly dumb. We flew Dragonair out of Beijing, not Air Canada, as we were on our way to Hong Kong.

I looked at the Dragonair ticket and it is about as cryptic as the AC ticket, so I am none the wiser. I will simply assume the deaprture tax is embedded in there somewhere.

Anselm

I know on our first flight home from HK we too were told to save money for the departure tax. We got there but no one asked for it. We later found out that it is always included in the ticket price. I just assumed that would be the same for mainland China. You made me nervous when you spoke of this tax. I will confirm with my travel agent that it is included in the ticket for Shanghai to HK and then 12 days later when we leave HK for Toronto.

Thanks!

I fly out of Shanghai Pudong a few times per month. Shanghai eliminated their departure tax in 2004 - July I think. Certainly it's embedded in the air ticket price now. Sorry I can't remember about HK.