Did you know that the exchange rate varies between cash or credit?- eChinacities Answers

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Mr_Jack

Posts: 3

Governor

Q: Did you know that the exchange rate varies between cash or credit?

Many expat may not know it but if you change foreigner cash into RMB (at Bank of China for example) you get a significantly worse rate than putting your cash (USD,EUR...) into a basic card and than exchange it into the card?

I just want you guys to know it and save your money

Also if you have more than 200.000rmb in foreigner currency you can ask first for a gold card and save most of the little fees as well.

Have a good day,

MR.Jack

13 years 25 weeks ago in Money & Banking - China

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icnif77

Posts: 20134

Emperor

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Same Bank practice is usual at Western Banks: exchange rate for cash is always lower than 'paper' exchange.

I have Merchant's Bank Visa Gold debit card with 50 Rmb monthly fee, if balance is lower than 50 000 Rmb. I hate paying Bank fees, especially for my own money, and I am very close to reach balance limit.

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13 years 22 weeks ago

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