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Q: ever tried to withdraw a foreign currency from your local Chinese bank?
I just did try and was told only my wife can do it. Little confused, sure I have done it before.
8 years 11 weeks ago in Money & Banking - China
Yes, many times - US Dollars and UK Pounds.
You have to go to large branches of the Bank of China with your passport and fill out a transfer form. I think the daily limit for foreign nationals is 500 USD or equivalent in other currencies.
diverdude1:
same here,,, or close to same. I just had competent Chinese friends who walked me through it. No problem at all when BOC wants to do it- meaning show up with someone with guanxi and u r set. PP is a must, they will follow the rules, but at least they will do it, and relatively efficiently too.
I got some Eur last week at CMB. I exchanged Rmb first through Gold account (spot rate applies, no fee), and then I must tell them, when I'll need cash.
For cash withdrawals of larger amounts (over 1000 Eur, US$...) appointment is needed.
Yep, but its a pain in the arse. Got the missus to do it from then on. I suggest you get a native you trust and save the pain.
just a sidenote. recently I did see a Chinese woman get Thai Baht from a branch of bank of china just before chinese new year. so, what im saying is that they do have various types of foriegn curriencies at hand at these banks...
Hotwater:
You can get most currencies but most need ordering or buying online before pickup. My wife recently bought €500. She got to the bank and they tried to give her a €500 note! They are known as Bin Laden's and shops won't take them! So she reluctantly sold it back.
I prefer the money-changers in the Muslim part of town. Its quick and easy and they only.charge about 0.05 RMB above the prime rate. Xiaobei for anyone in GZ
