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Home Housing & Finance What is the Most Convenient way for a Visitor to Carry Money?
What is the Most Convenient way for a Visitor to Carry Money?
Housing & Finance
If you're going to be in China for more than a month, set up a local bank account. It only takes a few minutes and you\'ll be able to use your account card anywhere in China without paying an exorbitant transfer fee! You also get a better rate on your dollar.

If you set up a Chinese account, it means that you'll be able to use your card in any ATM, and the cost is 2RMB per time, or free if you use your own bank's ATMs. There are no monthly charges for keeping a bank
account open, or fees for paying with debit card, which means it's cheaper than keeping
 using your overseas bank card to withdraw money.

You will get a much better exchange rate on money in your account than you do on cash over-the-counter, so just change enough cash to get you through the first couple of days at the airport. Then open a bank account, deposit the rest of your money into it and change to RMB within the account.

 

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