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Chinese Yuan/RMB in China

  • 02-07-2013 5:09pm
    #1
    hfallada
    Closed Accounts Posts: 4,180 ✭✭✭


    I just phoned BOI and I can only withdraw €100 worth of RMB in China per day (at €1.50 plus exchange rate fees) or 2.75% at point of sale plus €2.50 charge. Meaning it will be extremely expensive to get money while Im in China.

    Does anyone know if China is like the Philippines, where can get a great exchange rate "non-officially" with no ridiculous bank fees. Or do just you have to use ATMs and official currency converters.

    Also I have a stop over in Dubai and was wondering what are the exchange rates like in Dubai airport?


Comments

  • #2
    killbillvol2
    Registered Users, Registered Users 2 Posts: 5,178 ✭✭✭killbillvol2


    I've always used ATMs while in China so never really looked at other options. Then again, I'm not limited to a ridiculous €100 a day limit. You might get an answer on the Thorn Tree forums a bit quicker than here.

    Otherwise, do you have time to change banks before you travel?


  • #3
    hfallada
    Closed Accounts Posts: 4,180 ✭✭✭hfallada


    killbillvol2 wrote: »
    I've always used ATMs while in China so never really looked at other options. Then again, I'm not limited to a ridiculous €100 a day limit. You might get an answer on the Thorn Tree forums a bit quicker than here.

    Otherwise, do you have time to change banks before you travel?

    Luckily I have an aib account which has a limit of €250 or €600 and €1,500 when paying in a shop. However Im using my card for my 2 brothers and my mother( her card is MIA at the moment). I'll give thorn tree a try


  • #4
    halkar
    Registered Users, Registered Users 2 Posts: 1,397 ✭✭✭halkar


    Be careful changing money outside banks in China. There are a lot of fake yuans going around. Especially the 100 yuan notes.


  • #5
    squeakyduck
    Registered Users, Registered Users 2 Posts: 2,766 ✭✭✭squeakyduck


    I went into AIB about 2 weeks ago and with visa debit as long as I have 2500e in my account I don't get charged. But it must stay above 2500e. I can only take 100e at a time out.

    Point of Sale is like 20cent per transaction. Might be worth to change to AIB.

    From experience the best deal you can get on currency exchange is in the country. But as halkar said be very careful with who you deal with.

    As long as you aren't spending like a lunatic 100 should get you far in China! :)


  • #6
    hfallada
    Closed Accounts Posts: 4,180 ✭✭✭hfallada


    Phoned BOI and ordered RMB on the phone. But they phoned me back to say it would take 2 weeks to be ordered in. But try go branch to branch to see if a branch had some of it in their draw. I went to BOI College Green and they had €1,600 worth of RMB available and the rate wasnt to bad and the commission was tiny. Plus they would buy back any excess at the sell rate, if I kept my receipt and was back in 60 days.


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