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Banking and changing money in Yunnan

Replies: 13 - Last Post: 24-Sep-2007 00:59 Last Post By: mauschen

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mauschen

mauschen avatar

19-Sep-2007 06:51
Posts:  24

Banking and changing money in Yunnan

I will be going to Kunming, Dali, Lijiang and Zhongdian and cannot find out if Bank of China has branches to change Travellers' Cheques of if there are ATMs there. Can anyone help as to whether I should take mostly Travellers' Cheques or if the hotels mostly take Credit Cards and if ATMs are widely available. Any info would be greatly appreciated.

rploehn

rploehn avatar

19-Sep-2007 07:41
Posts:  262

1

Welcome to TT. This is perhaps the top topic on all China travel forums. (You can use the search function of the China forum under "ATM" to get answers.)

ATM machines are plentiful in any town which deserves more than two or three pages in the Lonely Planet guide. (You did buy the Australian-based guide book, right?) That guide also shows you a map most of the time with the location of the bank. Bank of China is the easiest for me and many others to use, but international banking relationships can make other banks more hospitable to your particular ATM debit card. Check your local issuer before you leave. Also check the charges your bank will deduct from your account. Chinese banks do not charge you for using their ATMs.

You can usually cash your travellers checks at four and five-star hotels if you are staying there. You must remember to do it every time you leave the hotel and might need cash. Going to a bank to do it will waste the better part of a morning or afternoon. (Bring a good book for the waiting line. Chairs are always filled.) Carrying cash for your vacation is out of the question. Bottom line: ATMs and debit cards are the way to go.

I always have around 1000 yuan in cash separate from my wallet for emergencies. If something happens to your ATM card, a good "plan B" is to have a credit card stashed away in a safe place. Cash advances can be pricey (4% or so), but better than no cash at all.

Always looking for new adventures, new cultures, interesting geography.

Warrina

Warrina avatar

19-Sep-2007 19:47
Posts:  36

2

In Zhongdian you need to use the Agricultural Bank of China, rather than Bank of China (don't think there is one) for changing travellers cheques. They have ATMs as well. Didn't use either, so not sure how efficient they are. In Lijiang it took less than 5 minutes to cash trav. chqs (same in Guilin) at the bank but yes, on previous trips it has taken up to an hour (waiting 'only' 1/2 hr, processing transaction almost as long).

Also cashed trav chqs at the Camellia Hotel in Kunming, no hassle.

Might be a bit old fashioned, but I still like to use travellers cheques, as well as cards & cash.

Warrina

Warrina avatar

19-Sep-2007 19:52
Posts:  36

3

Sorry, didn't mean to infer that I had been waiting for ages in a Lijiang bank previously, only in Beijing and Shanghai.

HenningWessel

HenningWessel avatar

19-Sep-2007 23:38
Posts:  12,967

4

Lots of ATMs in Kunming. Otherwise get cash advances with your passport.

mauschen

mauschen avatar

20-Sep-2007 00:45
Posts:  24

5

Thanks guys,
That was all very helpful.

westwood

westwood avatar

20-Sep-2007 02:23
Posts:  10,544

6

Not sure either about BoC in Zhongdian but do know I had to use Agricultural Bank to change US $'s.

We never really grow up, we only learn how to act in public.

meczko

meczko avatar

20-Sep-2007 12:35
Posts:  800

7

Agricultural Bank of China gives a bit worse rates than BoC in other places, so you'd better change more money before. In other places you quoted there's Bank of China. and there are ATMs too. If you don't plan spending a fortune in each place my advice is to change your money in Kunming once for the whole trip and then eventually use ATMs for smaller amounts if you run out of RMB - changing money is quite time consuming in China (queues, paperwork).

meczko

meczko avatar

20-Sep-2007 12:41
Posts:  800

8

oops, I meant "Agricultural Bank of China gives a bit worse rates than BoC in other places, so you'd better change more money before ZHONGDIAN."

ChrisWilliams

ChrisWilliams avatar

20-Sep-2007 14:28
Posts:  710

9

I've encountered quite a few broken ATMs in my travels (but not Bank of China) so, if you're relying on an ATM map, it'd be worthwhile to have a Plan B.

: )

mauschen

mauschen avatar

21-Sep-2007 00:18
Posts:  24

10

Thanks to meczko and ChrisWilliams. Just one more question, do you know if the medium standard hotels take credit cards?

ellyse

ellyse avatar

23-Sep-2007 07:23
Posts:  8,932

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