The place to ask China-related questions!
Beijing Shanghai Guangzhou Shenzhen Chengdu Xi'an Hangzhou Qingdao Dalian Suzhou Nanjing More Cities>>

Categories

Close
Welcome to eChinacities Answers! Please or register if you wish to join conversations or ask questions relating to life in China. For help, click here.
X

Verify email

Your verification code has been sent to:

Didn`t receive your code? Resend code

By continuing you agree to eChinacities's Privacy Policy .

Sign up with Google Sign up with Facebook
Sign up with Email Already have an account? .
Posts: 46

Governor

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

Q: Can I exchange the $ I have saved working here into dollars? How do expats take their money home?

I have been saving money here.  I also have some dollars in the bank here.  Can I move the rmbs to dollars at the bank?

10 years 28 weeks ago in  Money & Banking - Other cities

 
Answers (4)
Comments (3)
Posts: 19790

Emperor

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

Certainly, you can! It just depend on the 'exchange rate, Bank will offer you.

 

At China Merchant's Bank (Gold Visa/MC account) you can make unlimited foreign exchange with 'spot exchange rate' applied.

Report Abuse
10 years 28 weeks ago
 
Posts: 1838

Emperor

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

No, technically you can't without following a very formal exercise that involves showing copies of the tax receipts to the bank, copies of your contract and various other things. The upper limit is supposed to be 70% of your earnings. However, that rule has been relaxed somewhat by the Bank of China. Now, I think some will allow you to exchange up to 500 USD equivalent of rmb to a foreign currency. Even when this option is not open, you can also get a Chinese friend to exchange the money for you or find black marketeers. Once exchanged, you can transfer cash by bank wire out of the country but, to avoid the possibility of getting tangled into another bureaucratic paper chase involving tax certificates, the easiest option is to ask a Chinese person to do the transfer for you.

Report Abuse
10 years 28 weeks ago
 
Posts: 3025

Emperor

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

Most banks in China have a daily limit for foreigners to exchange local currency (Rmb) into foreign currency.  But Chinese nationals do not.  They will pay you the spot exchange rate which is about 6.05 yuan for a dollar nowdays.  With black marketers, you may get 6.08, but run the high risk of getting counterfit money mixed with real one.  In exiting the country, the maximum in cash allowed if discovered is the equivalent of 6,000 Rmb with you.  You could try a wire transfer to a relative back home, or before departure, send yourself the money via Western Union.  Good luck

Hulk:

I got exchanges of 6.2 in the airports, while the internet was saying 6.12.

10 years 28 weeks ago
Report Abuse
Report Abuse
10 years 28 weeks ago
 
Posts: 9192

Emperor

0
0
You must be a registered user to vote!
You must be a registered user to vote!
0

You could just carry it home, How much are you talking? 10k you could have problem, I sweated carrying 5K home, but after 2 days of trying to get money out and then paying a fee, I didn't want to even try putting it back.

qbsinceage10:

Actually, I am talking about more than 10K.  Oh, the taxes and other ramiications.  I only want to keep my money.

10 years 14 weeks ago
Report Abuse

TedDBayer:

They ask that quesiton and can seize your money. I  just went home and they seized my computer and cell phone. I can't even get an answer on how or when can I get them back, thats $2000 worth of my stuff.

10 years 14 weeks ago
Report Abuse
Report Abuse
10 years 25 weeks ago
 
Know the answer ?
Please or register to post answer.

Report Abuse

Security Code: * Enter the text diplayed in the box below
Image CAPTCHA
Enter the characters shown in the image.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd> <img> <br> <p> <u>
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
  • Textual smileys will be replaced with graphical ones.

More information about formatting options

Forward Question

Answer of the DayMORE >>
A:  "... through ..."?  Only "through" comes to mind is "S
A: "... through ..."?  Only "through" comes to mind is "Shenzhen agent can connect you with an employer, who's authorized to hire waigouren ... and can sponsor Z visa." It's not like every 10th person you meet in Shenzhen's hood can sponsor work visa ...  The only way to change from student to labourer visa is just a regular way by: 1. Finding an employer, who'll apply for an Invitation letter; 2. Exit China and apply for Z visa in your home country's Chinese embassy; 3. Enter China in 30-days after Z visa was stamped into your travelling instrument ...As I am aware, you won't be able to switch to Working permit by remaining in China....,so make ready for a return to your home .... -- icnif77