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Posts: 5732

Emperor

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Q: Is china really this cheap on everything?

i recently had to get 80000 rmb in 800 one hundred notes and they all are dated for 2005.

i gathered from my jars of money all my 1 rmb notes and they all say 1999

 

is the government to cheap to change the year on the back of a bill.

money is money, why bother with changing the date and the hassle,

even though you can print money to pay the printer for changing the year.

 

what are the odds of getting 800 bills from 5 banks and all the notes say '2005'

 

maybe different provinces get different years on the bills

 

any thoughts

10 years 36 weeks ago in  Money & Banking - China

 
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Posts: 520

Shifu

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haha man you're cool for noticing this.

 

In 1999 the central back issued the 5th set of RMB. In 2005 the central bank issued the second version of 5th set RMB.

 

Almost all the 1999 and previous versions of 100 notes have been taken back to the banks and probably destroyed. So all the 100 notes you see in daily life are of the 2005 version.

 

And I went back to check the news in 2005. The central bank didn't issue 2005 version of 1Yuan notes that time, according to the news article.

 

Hope this helps!

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10 years 36 weeks ago
 
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question, did you have to get the 80k from an atm? I spent an entire day trying to get  a large amount of money with drawn. The banks kept saying use the atm. Fees for me are $5 per 2500Y. The next day I got a teller to do it, she had to send a fax, took 15 minutes.

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10 years 36 weeks ago
 
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i have bank accounts at 7 banks in china, you can get 20000 per day on the atm machine from your account at that bank. the problem is 3000 is the maximum , so i had to do 6 transactions  of 3000 and can only get 18000 unless you do another one for 2000.

i had 2 banks were the machine ran out of money to give me, so i had to use another bank.

the money is so crazy in china , so i spread it around in case a bank goes under or they confiscate my acccount for some perceived violation at a school or on my visa.

 

had a friend lose his whole account , seized for a motorcycle accident and damages.

 

wish i knew a bank that was actually financially sound in China but when you look at the balance sheets, its a nightmare.

ambivalentmace:

at your bank, your own account, no atm fees, hell i dont even use credit cards, paper trails are giving private information, yes i'm a little paranoid of government, any government.

10 years 36 weeks ago
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10 years 36 weeks ago
 
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