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Q: Withdrawing cash from a Chinese bank account abroad
So I'm about to go abroad and intend to leave some money in my Chinese bank account. Although Union Pay generally sucks, how much will it charge me if I withdraw money from overseas? Does it differ from country to country?
10 years 39 weeks ago in Money & Banking - China
I have Gold account with China Merchants Bank, ATM card with Visa/MC logo. I opened account with 1000 Rmb deposit.
You can exchange Rmb to 'unlimited' foreign currency, with spot rate applied.
If balance at the Gold Visa account is below 50000 Rmb, Bank is charging 50 Rmb per month.
The most important is 'which exchange rate Bank will use, when you'll make purchase abroad'. I don't think exchange rate will be favorable to you, and Bank probably won't miss the fee for exchange.
You should ask info about currency exchange at the Bank where you are holding an account.
You're asking if there is an ATM fee? Yes there is. Yes it differs from country to country. basically the charge is about the equivalent of $5AUD. So 150baht - Thailand. 250PHP - Philippines. I use Union Pay wherever I go. Safer than carrying cash. Also cheaper than using my Australian debit or Credit Cards.
