Need advice on paying cash tuition

[Banestyrelsen]

Hi everyone,

I'm moving to Beijing in three days for work and study. I arrive on Thursday and I have to pay 25 000 RMB for rent and tuition in *cash* by Friday.

What's the best way to go about this? Should I go to a local bank and wire the money from my European account, or could there be a problem with getting the money in time? Is it easier to just bring the equivalent in bills and exchange it at a local bank?

Any advice would be appreciated.

[adrianlondon]

I'm from the UK so had the advantage of being able to use all cashpoints in China free of charge (Nationwide Flexaccount), however that didn't allow me to withdraw enough, quick enough, to pay the tuition fees.

I brought sterling travellers cheques and cashed them (passport needed for ID) at the nearest bank. They cost close to nothing (same bank as above) and give a better-than-cash exchange rate at the bank in Beijing I used.

[forcor]

25,000RMB for three days? Does the fee include the air plane ticket?

For your question, if your card can be used in other country, it will be OK. You can withdraw money from ATM, maximum is 20,000RMB a Day.

If you have some problem in Beijing, maybe I can help you. I live in Beijing, and on my summer holiday these days. You can contact me by forcor@gmail.com.

[imron]

25,000RMB for three days?

in 3 days, not for 3 days

[adrianlondon]

You can withdraw money from ATM, maximum is 20,000RMB a Day

Most foreign banks impose their own daily withdrawal limits and it's unlikely to be that high.

[yonglin]

Most foreign banks impose their own daily withdrawal limits and it's unlikely to be that high.

You can usually call your bank and tell them that you'll have to withdraw a lot of money on a particular day and ask them to lift the limit temporarily. It might be a good idea to tell them you're going to China too, since some banks automatically block large transactions from "suspicious" countries.

[A life of study]

I think you should be able to get 5000 RMB out a day via a Chinese cashpoint using a foreign card.

[roddy]

As adrian said - that'll depend on the limit imposed by the foreign bank, which will vary from bank to bank. It'll also fluctuate with exchange rates, which isn't going to make a difference day to day, but someone who found they could get RMB5,000 a day two years ago might find things have changed now.