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Exchange AUD into CNY!

Brisbane, Australia
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18 posts
11 reviews
6 helpful votes
Exchange AUD into CNY!
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Hi,

Where is the best place to exchange our money for our trip? Should I exchange money here at BOC(Bank of China)as we have a branch in Brisbane,AU before we arrive...or should I just change it when we get over there?

Our apartment that we booked will only accept CNY(cash in hand) as payment.

Can I use my Australian Visa debit card over there?

Any info would help!

Many Thanks!

Melbourne, Australia
Level Contributor
526 posts
65 reviews
24 helpful votes
1. Re: Exchange AUD into CNY!
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Others will disagree, but I am a big fan of having at least some of the local currency in my wallet when I arrive. Airport exchange rates tend to be less favourable than other exchange sources.

We found in our travels in Yunnan province, staying in hostels and eating at local eateries, that cash was king with little acceptance of credit/debit cards. If you travel a little further upmarket than that you should find card acceptance more widespread.

Beijing, China
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15,320 posts
2. Re: Exchange AUD into CNY!
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If OP is needing to pay a cash payment for an apartment, that's more than just a little bit of currency to put in the wallet. Assuming we're talking about several thousand RMB, I would take AUD in crisp, clean, new $100 notes and go to a bank in town and exchange the wad for RMB 100's. Doesn't have to be Bank of China, just use a major bank branch that is displaying foreign exchange rates in the window (showing it deals with Forex at that branch). You'll need your passport for the exchange. Then pay for the apartment and use the leftover for petty cash, until you need a refill at which point you can use your ATM card.

To get from airport to town, you will need some upfront RMB so just exchange a small amount at an airport bank counter. The rates for AUD spread a bit wider between airport and town than for USD, so you will do a bit better if you wait to exchange most in town.

The one thing I wouldn't bother with is exchanging in Australia, as you'll almost certainly get a poorer rate.

Southern...
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6,503 posts
22 reviews
25 helpful votes
3. Re: Exchange AUD into CNY!
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Bucks_n_P - As said in post #1, I like to arrive with around 500 RMB in my pocket on arrival. That way I can head straight to a taxi line, or stop and get something to eat, without having to look around for an ATM machine. Yes, your Australian Visa debit card should work in major China bank ATMs, but make sure you give your bank a travel notification before you leave Australia so they don't block the card when used in China.

Brisbane, Australia
Level Contributor
18 posts
11 reviews
6 helpful votes
4. Re: Exchange AUD into CNY!
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Thanks so much for all the great info on this topic!I will most definately take all your advice on board.

Many thanks!

Shanghai, China
4 posts
5. Re: Exchange AUD into CNY!
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You can exchange at BOC,

Sydney, Australia
Level Contributor
825 posts
6. Re: Exchange AUD into CNY!
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Having some CNY notes in the pocket before landing in China is recommended. You will pay the transport from the airport to the booked apartment. I will also recommend to open an account in BOC, and you will get a ChinaUnionPay branded debit card for you to use in China

Chengdu, China
2 posts
7. Re: Exchange AUD into CNY!
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having much CNY is better before you land ChengDu China because you will pay the taxi or subway.The Visa credit card can be used in most of hotel and other place in the ChengDu if your Visa credit card can be used in the China area which may need be permitted by bank in my opinion.

Europe
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7,931 posts
153 reviews
296 helpful votes
8. Re: Exchange AUD into CNY!
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> Others will disagree, but I am a big fan of having at least some of the local currency in my wallet when I arrive. Airport exchange rates tend to be less favourable than other exchange sources.

An airport ATM charges the same rate as any other ATM. and of course changing cash at home will never be at a favorable rate. ATMs are nearly always cheaper and safer. So teh obvisou routeis just to rely on ATMs, liek anywhere else in the world in 2018.

OP's problem may be that the amount of cash needed is more than an ATM withdrawal will allow. But we dont have that information. One can always make multiple withdrawals, if necessary using multiple cards.

9. Re: Exchange AUD into CNY!

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