How convenient to use traveller's cheques in China?

[楚风]

How convenient to use traveller's cheques (Canadian Fund) in China?
Has anyone had experience? Thanks.

 

[Jane]

任何银行都可以cash，按现汇牌价。

 

[weisa]

In USA and CANADA, bank doesn't charge you any extra fee if you cash your cheque. But in China, bank will charge you 0.75% processing fee.

 

[joanna]

i guess it' not very convenient to use cheque in China. you probably have to wait 3 months for the cheque checking by the bank. not quite sure.

 

[吾言]

最初由 joanna 发布
i guess it' not very convenient to use cheque in China. you probably have to wait 3 months for the cheque checking by the bank. not quite sure.

I don't think that is the case for traveller's cheques.

 

[雪在烧]

最初由 joanna 发布
i guess it' not very convenient to use cheque in China. you probably have to wait 3 months for the cheque checking by the bank. not quite sure.

NOT true! 可以马上兑现的.一天都不用等.不过只有中国银行才能兑现.起码去年我回北京是这样的.现汇的汇率要比现金的高一些.不过去掉两边的手续费,也就差不多了.安全而已.

 

[Jane]

最初由 ESCAPE 发布


NOT true! 可以马上兑现的.一天都不用等.不过只有中国银行才能兑现.起码去年我回北京是这样的.现汇的汇率要比现金的高一些.不过去掉两边的手续费,也就差不多了.安全而已.

There is no fee for buying travel cheque.
You can buy AMEX travel cheque at American express travel centre in downtown for free.
Or you can buy VISA travel cheque at CAA for free.
The exchange rate difference is much better than 0.75% handling fee.

 

[spsun1]

If you stay in a 5-star hotel, it is fine (most of them will have a counter for you to change in RMB).

Otherwise you will need to go to Bank of China. Even in Shanghai, I have to find Bank of China to get change into RMB. But, most of banks will take US cash.

In Beijing, I can even use my bankcard to withdraw RMB at some bank.

 

[ashvalley]

最初由 spsun1 发布
If you stay in a 5-star hotel, it is fine (most of them will have a counter for you to change in RMB).

Otherwise you will need to go to Bank of China. Even in Shanghai, I have to find Bank of China to get change into RMB. But, most of banks will take US cash.

In Beijing, I can even use my bankcard to withdraw RMB at some bank.

can you use VISA or master card in China?

 

[刘震撼]

最初由 ashvalley 发布
can you use VISA or master card in China?

Yes, in some big shopping malls and maybe some hotels. I used my VISA in 东方新天地 with no problem this summer.