Money? How much?

[Ju_de]

I am planning to study in Beijing in september for a semester and have been told that once I arrive I need to pay the course and accommodation fees in cash.

I was just wondering if anyone knows the maximum amount of RMB (if any) or other foreign currency (e.g. pounds sterling/american dollars) that can be brought into China?

[roddy]

I don't think any country worries about the amount of money you bring in - it's when you try and take it out they get annoyed.

[Ju_de]

That won't be a problem because I will probably have none left after the trip!

I called up Air China and they said that there is no limit to how much RMB you take in, but there is with US dollars (up to $5000).

The safest option would be to use my bank card, however, I have heard a lot of bad experiences in the past with using bank cards in China.

Is it quite common/easy to use visa cards at ATM machines in Beijing now?

[HashiriKata]

Is it quite common/easy to use visa cards at ATM machines in Beijing now?

When in China, I always use my Visa card to obtain cash. The ATM machines I use have always been the Bank of China's ones (I don't have experience with other banks and don't even need to). This method has been so reliable that I don't even need to bring cash with me to China.

[Ju_de]

I am really glad to hear that!!

[youpii]

tuition and accommodation for one semester should be around 20,000RMB

you can't get that much from a ATM

[roddy]

People often take it out over a number of days - maybe not an option if you need it immediately.

[Madot]

I'm all set to use my Visa debit card at the ATM, but I was wondering... does anyone know the daily limit for cash withdrawals at ATMs in China? I wanted to avoid the fee BLCU charges for using a credit card to pay for tuition, but I've heard that you can't take out the amount required in one go. Does anyone have any advice?

Mado

[gougou]

Most banks let you have RMB 2000, Guangdong Development Bank draws the line at RMB 3000. You can take money up to this limit several times in a row, though (up to a certain weekly limit, I believe.)

[Madot]

umm, sorry. This is probably a stupid question-- I gather you mean 2000 or 3000 yuan RMB, don't you? I guess this would mean carrying around significant amounts of cash for several days until you could get the total necessary, wouldn't it? Maybe I should just pay the fee and be done with it.

Mado

[onebir]

Most banks let you have 2000, Guangdong Development Bank draws the line at 3000. You can take money up to this limit several times in a row

Your card issuer may also have a limit. Mine's GBP200 per day - almost RMB3000. Also bear in mind that there's often a charge per transaction. Because of the RMB2000 (=GBP140) limit, to get out GBP200 in one day i'd have to withdraw RMB1000 or so in the second transaction, ending up paying a higher overall percentage (to spend my own money )

[gougou]

I gather you mean 2000 or 3000 yuan RMB, don't you?

Justified question, edited the post.

I had to play the ATM-game a few times already (a place where I lived before had me paying rent semiannually...). Normally, it is fairly easy, as banks are plentiful and at more populated areas often come in clusters. However, I think my limit is higher than 300 GBP and I don't pay fees.

[adrianlondon]

I plan on telling my bank before I go to Beijing that I'm likely to be in China for 6 months.

Firstly, so they don't freak out and cancel my credit cards thinking I'm a scammer. Secondly, so that they will - hopefully - increase my daily withdrawal limit for a while as I'm going to tell them that I need to pay BNU course fees and some accommodation fees as soon as I arrive.

[Josh-J]

plan on telling my bank before I go to Beijing that I'm likely to be in China for 6 months.

Firstly, so they don't freak out and cancel my credit cards thinking I'm a scammer.

Yes yes yes, that happened to me - I got down to about 3 yuan cash left after much wrestling with ATMs not knowing what the problem was. Calling the bank revealed that they'd suspended the card because of suspected fraud, and after a few questions they enabled it again essentially straight away. Which was just as well

[Luctor]

Hi,

Most banks in the Tianjin area allow you to take 2 times 2000 RMB (4000) after which you have to wait 1 or 2 days to be able to do it again.

This works for creditcards, but also for Maestro cards (the former europasses)