Using ATMs and Banks in China

If I have found out one important thing during my travels to China it is this: Using ATM machines and trying to pay with my credit card is without doubt one of the most frustrating experiences I have ever had. This is made all the worse if you cannot speak Chinese and do not understand the cultural differences in China. So for all those about to embark on a china tour or corporate mice trip to China here are some useful notes to consider before you leave home: 1: Credit cards are taken in some places but invariably I found many establishments will not accept foreign credit cards. This is especially true at airports, train and bus stations who will only accept cash payments. Even Ctrip online would not accept a western card over the phone because I was flying the next day. I had to travel to Guangzhou airport and pay in cash for internal flight tickets which was most irritating. Two hours later and 300 rmb lighter in taxi fares I had managed to secure my flights. And it is no good trying to argue the point unless you are fluent in Chinese. 2: Even some banks will not let you draw money out with your credit cards. I found that the most reliable bank was The bank Of China. I was able to draw cash out from their ATM machines with my credit card and my Nat West debit cards when no other bank would allow me to. They are on virtually every street in China which is reassuring. I even checked with Nat West before leaving and they didn't have a clue if i could get money in china or not. 3:ATM's Beware: If you do use ATM machines to draw out cash you will get quite a large fee for doing so. An ATM transaction fee and a foreign exchange fee. They can also be unreliable and it is a real pain trying to get things sorted out if your card gets stuck or does not pay out the money. However most banks have English speaking staff but do not rely on this as their English is often very limited to Hello, Goodbye, How are you etc. I tend to go to the counter and draw my money from the cashier using my passport as proof of identity. At least you know you will not lose your card or your cash using this approach. 4: If your stay in China is long enough I would recommend opening a Chinese bank account. I did this with just my passport and 10rmb and i had my bank book and union pay atm card within twenty minutes. With The Bank Of China you can then arrange transfers of your money from your UK bank into your China bank. Union Pay is accepted at all Chinese establishments and will make paying for your goods or services that much easier. 5: Always carry some cash with you. I always find 500rmb is more than enough for most things you will need to do. 6: With a little forward thinking your trip to China can be a stress free experience. Remember to always keep your receipt when paying for anything and check it before leaving the establishment. Using ATMs and Banks in China is a post from: Traveling China from Traveling China http://www.chinaya.org

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