Chinese RMB rates..

[binbin81]

Originally Posted by qizai

Bro... U R Right!!! OCBC charge S$20/= per transaction...
Bank exchange rate is low... i withdraw 3000k rmb = S$667.91.
@ S$1=4.4916rmb
Next time got to bring more cash wif mi...

It is always good to bring a few cards to china.
However, Please do not bring it with you all the time.
Rather, only when you are running low on cash and need replenishment
Times is bad, You would never know what gotta happens later on.

Originally Posted by prcsytlover

i think citi bank has one of the best bank exchange rate in china..

Overall OCBC sucks big time..

Think you are right to say that.
POSB seems good enough for this case.
But we cannot expect attractive rates as they are BANK.
They gotta make $$$ when service us.

[genius]

As far as I know, only Macau accept POSB which levied a S$5.00 fee and whatever exchange rate. Not so sure for other bank

I have a Bank of China Credit Card. Actually should be 2. Once of them is a "Union Pay" type which can be use in PRC. Most PRC shop don't accept Visa/Master. Even big resturant. Some bigger hotel accept Visa/Master.

Do check if they levied an admin charge for using Visa/Master. In PRC. Cash is really KING.. I was once ran out of RMB.. Lan lan went back to HK as can use Credit Card.

Originally Posted by binbin81

It is always good to bring a few cards to china.
However, Please do not bring it with you all the time.
Rather, only when you are running low on cash and need replenishment
Times is bad, You would never know what gotta happens later on.



Think you are right to say that.
POSB seems good enough for this case.
But we cannot expect attractive rates as they are BANK.
They gotta make $$$ when service us.

[qizai]

Originally Posted by binbin81

It is always good to bring a few cards to china.
However, Please do not bring it with you all the time.
Rather, only when you are running low on cash and need replenishment
Times is bad, You would never know what gotta happens later on.



Think you are right to say that.
POSB seems good enough for this case.
But we cannot expect attractive rates as they are BANK.
They gotta make $$$ when service us.

Thanks for the advise bro...
Next time i'll get more rmb and bring some S$ over...
Juz in case... Not enough again

[solar_sky]

the highest amount of $ u can get from their atm i think is $2000 rmb... so little

if need to take a bit more,need to take 2 times = 2 x transaction fee

[murali]

Originally Posted by prcsytlover

they state no No cash advance fee..

But is there a transaction fee?

cash advance is the transaction fee

[murali]

Originally Posted by qizai

Thanks for the advise bro...
Next time i'll get more rmb and bring some S$ over...

if u plan to bring S$ over u might get worse exchange rates than drawing at the ATM machine using ur sg card, so might as well just draw on ur card

[Tony Stark]

Originally Posted by genius

In PRC. Cash is really KING.. I was once ran out of RMB.. Lan lan went back to HK as can use Credit Card.

Haha I got a culture shock when I did some over the counter transaction in a China bank. It is a common sight to see PRC to carry one huge plastic bag of RMB100 notes to do banking.

CASH RULES IN PRC. CREDIT IS A FARCE.

[Dermarko]

Once I followed my colleague to change some currency from SGD to RMB, found the process very troublesome. We were in one Bank of China branch in Huizhou and we had to fill in the form as well as to bring along our passport for verification. After that, when we gave them our Sing $50 notes, the notes were being examined very carefully as if they were counterfeit, very long process.
After that, I had decided next time to draw using Credit cards or POSB card only..

[upmountain]

hello all bros

not sure whether anyone here has tried this, but knowing that there is a massive amount of counterfeit RMB notes in circulation, i make it a point to bring with me a small UV light detector on my trips to China. its like a small torch light keyring thing and i find it very handy. mine is a one-side normal torch light, the other side its the UV light.

I kenna counterfeit notes only once. that was a 50RMB note in Zhuhai. I got it when i went to the McDonalds there to buy a coke and sit down to relax for awhile (was raining outside that time so cannot walk back to hotel). i paid with a 100RMB and got back many small notes including the 50RMB. So i took my drink, went to sit down, and wait for the rain to stop. Then i just took out this UV torch light from my pocket and just shine at the money i had in my hand. Thats when i noticed that the 50RMB note gave off a very bright white reflection when exposed to the UV light. the other notes had no such reflection. So i look at the note, look at the watermark etc and all was ok leh.

i was sitting at a table right infront of the counter so the guy who served me saw what i was doing and called me over. so i went there, showed him the note, and demonstrate the UV light thing for him to see. he call his manager over and the manager ran the note through a counting/counterfeit machine in the admin office...same result. the counter guy actually wanted to give me a refund on the fake note but the manager said nicely that cannot, too bad. so never mind lor, i keep the 50RMB note with me as a 'souvenir'. haha. lucky its only a small amount. i kept that note in a small compartment of my wallet.

end of last year i went to CP and went to the 7-11 to buy cigarettes. again, paid with 100RMB and among the change, got back a 50RMB note. When i was in the hotel room, i remembered the counterfeit from Zhuhai so i took it out and compared it with the one i just got from 7-11. Watermark all the same, even the texture was also quite similar. ONLY THE UV LIGHT SHOWED THE DIFFERENCE. Without the light, the real one and fake one really cannot tell the difference! Apparently, there are many 'grades' of counterfeit notes in circulation, from the really poor ones which one look you can tell la, and to the damn good ones which only UV light can detect, but i heard now there are even higher grades of fakes even the UV light cannot show the difference!


I recommended this UV light thing to a friend of mine stationed in Beijing. Heard from him that one day he went to withdraw 500RMB from an ATM there, out of the five 100RMB notes he got, 2 were fake according to the UV light! but lucky for him, he had a receipt and the ATM was located inside the bank itself, so got camera proved that he did get the fake notes there. He went to the counter, and about an hour or so later, they took the 2 fake notes and gave him genuine ones.

Its not a foolproof method, as i said, many fakes of higher grades are flying around in China, but maybe this device can help alittle. Take care and have fun bros!

[prcsytlover]

Originally Posted by genius

As far as I know, only Macau accept POSB which levied a S$5.00 fee and whatever exchange rate. Not so sure for other bank

I have a Bank of China Credit Card. Actually should be 2. Once of them is a "Union Pay" type which can be use in PRC. Most PRC shop don't accept Visa/Master. Even big resturant. Some bigger hotel accept Visa/Master.

Do check if they levied an admin charge for using Visa/Master. In PRC. Cash is really KING.. I was once ran out of RMB.. Lan lan went back to HK as can use Credit Card.

Not really true lah..

Take a look at the back of u'r ATM card(any bank also the same), there will be signs that tell u which ATM mac u can withdraw money from. This is a international code(just like Visa and master) for withdraw money when oversea. Works in Europe as well.. not to say in china and HK or Macau.

For POSB, is Cirrus and maestro(for oversea/ local is nets).
HSBC is Cirrus only.
SCB is Cirrus and maestro also.

If u see the same sign on the ATM mac, that means that u can withdraw money from this mac.

But as for the transaction charge, diff bank got diff charge.. also diff exchange rate as well.. u will never know what's the rate after the next working day..

As for transaction charge, it's a 1 time off charge per withdraw. So no matter u draw 100 rmb or 2000rmb the charge is the same..

As far as i know,

POSB/DBS is $5
OCBC is $20
HSBC if is a HSBC ATM(5-8) other ATM is 15-20..
Can't remember.. seldom use..

That's all i know folks.. hope is useful...

[prcsytlover]

Originally Posted by solar_sky

the highest amount of $ u can get from their atm i think is $2000 rmb... so little

if need to take a bit more,need to take 2 times = 2 x transaction fee

this will depend on which ATM u draw from.. diff bank's ATM got diff limit.. Also diff card will give u diff limit to draw as well..

Most of the time it will be state on the aTM how much u can draw..

BOC - 2500
HSBC - 3000

This is 2 of the bank that u can draw money per transaction.. i always look out for this 2 atm when in china.. but too bad dun think got HBSC in ZH and CP.. never see before.. maybe any bro can advise..

But it's also true that most ATM(most bank) max can draw 2000rmb per transaction..
if it's a local atm card, i think can draw up to 5k-10k.. a lot of money.. ha ha..

[prcsytlover]

Originally Posted by murali

cash advance is the transaction fee

so u mean there's no transaction charge when using CC to with draw cash??

Only a cash advance charge? ( i think is 3% of the sum u withdraw or at least $35 whichever is higher..)

[binbin81]

Originally Posted by prcsytlover

so u mean there's no transaction charge when using CC to with draw cash??

Only a cash advance charge? ( i think is 3% of the sum u withdraw or at least $35 whichever is higher..)

I heard that cash advance charge for CC can be waived if you deposit a sum of $$$ prior to withdrawl from ATM.
As for transcation fee, i suppose it gotta rely on respective bank!

[Zen Zen]

[SexKing972]

Originally Posted by Zen Zen

new notes ?