| Author |
Message |
goodbye
Newbie
Joined: Dec 27, 2007
Posts: 6
Status: Offline
|
 Posted:
Feb 09, 2008 - 03:48 PM |
 
|
| Post subject: Leaving Shanghai, want my money..... |
Well I have been trolling the forum for the straight answers about currency exchange. I am not looking to start another fight in the forum. I just want to know how to clear out my bank account and convert it into US dollars. Can I just convert it all into dollars at the bank, the airport or what? Where is going to be the best rate and the lowest fees? What is the max I can get in US dollars, not that I have that much money but more than the $500 max someone said was at the airport. What should I do? |
|
|
|
|
underh20
Shanghai Royalty
Joined: Sep 27, 2006
Posts: 9907
Location: EOA Seminar
|
| Posted:
Feb 09, 2008 - 03:58 PM |
|
|
If you have a few days, you can get $500 per day at almost any Bank of China. Not sure about airport.
Or if you have all the necessary paperwork, you can get substantially more. |
_________________
بارك الله ، بارك الله |
|
|
|
|
goodbye
Newbie
Joined: Dec 27, 2007
Posts: 6
Status: Offline
|
| Posted:
Feb 09, 2008 - 04:02 PM |
|
|
Thanks for the reply, but what kind of paperwork? I have never received any statement or pay stub from the my employer. It is a reputable employer, but I have direct deposit. What do I need to get the money changed at the bank? I can just take a stack of 3000 RMB and get US dollars? |
|
|
|
|
|
fortune_nookie
Reacher
Joined: Apr 07, 2003
Posts: 295
Status: Offline
|
| Posted:
Feb 09, 2008 - 04:10 PM |
|
|
Go to bank of China on Huai Hai road down near Central and exchange with the people outside of the bank. Rate is about the same as the bank.
Also 3,000 RMB < 500 USD |
|
|
|
|
goodbye
Newbie
Joined: Dec 27, 2007
Posts: 6
Status: Offline
|
| Posted:
Feb 09, 2008 - 04:14 PM |
|
|
Why would I go to the people outside the bank rather than go inside the bank? Just because the lines are so freaking long or is there another reason? |
|
|
|
|
|
oopsiedaisie
Talker
Joined: Sep 27, 2006
Posts: 114
|
| Posted:
Feb 09, 2008 - 04:21 PM |
|
|
Hey goodbye, you are annoying the crap out of me - there's been at least one gazillion posts on this topic on this website, underh20 and fortune_nookie, please help goodbye help himself by NOT answering anymore of his questions. What sort of a question is "Why would I go to the people outside the bank......?" |
|
|
|
|
|
Adrienne
Rocker
Joined: Mar 01, 2003
Posts: 779
Location: Shanghai, China
Status: Offline
|
| Posted:
Feb 09, 2008 - 05:44 PM |
|
|
Goodbye, to make a little easier for you I have money changer who can come to your place to change money. Just send me a PM and I'll send the number. You'll need someone who speaks Chinese to talk with him.
Adrienne
http://www.shanghaiprops.com |
|
|
 |
|
underh20
Shanghai Royalty
Joined: Sep 27, 2006
Posts: 9907
Location: EOA Seminar
|
| Posted:
Feb 09, 2008 - 06:09 PM |
|
|
| goodbye wrote: |
| Why would I go to the people outside the bank rather than go inside the bank? Just because the lines are so freaking long or is there another reason? |
Plus: Less hassle. Shorter lines.
Negative: Fake $$, police raids, 15 days in jail. |
_________________
بارك الله ، بارك الله |
|
|
|
|
underh20
Shanghai Royalty
Joined: Sep 27, 2006
Posts: 9907
Location: EOA Seminar
|
| Posted:
Feb 09, 2008 - 06:10 PM |
|
|
| goodbye wrote: |
| Thanks for the reply, but what kind of paperwork? I have never received any statement or pay stub from the my employer. It is a reputable employer, but I have direct deposit. What do I need to get the money changed at the bank? I can just take a stack of 3000 RMB and get US dollars? |
You'd need employment contract, tax statement, residence permit and proof of direct deposit of salary.
But this is moot since you only have 3,000 RMB. Like I already told you, you can buy $500 over the counter with nothing but your passport. |
_________________
بارك الله ، بارك الله |
|
|
|
|
wonderer
Raver
Joined: Sep 25, 2006
Posts: 429
Status: Offline
|
| Posted:
Feb 09, 2008 - 11:12 PM |
|
|
| goodbye wrote: |
| Thanks for the reply, but what kind of paperwork? I have never received any statement or pay stub from the my employer. It is a reputable employer, but I have direct deposit. What do I need to get the money changed at the bank? I can just take a stack of 3000 RMB and get US dollars? |
3000 CNY is not a stack, it's a pocketful. You have no idea.
Ask your "reputable employer" for a tax statement. AFAIK, it's all you need other than the usual documents, though I'm sure Undead will say more.
Hey Goodbye, are GBP or JPY any good to you? I've ditched my USD, TWD and KRW, but I'm hanging onto EUR. |
|
|
|
|
|
me_myself_&_i
Reacher
Joined: Oct 15, 2007
Posts: 244
Status: Offline
|
| Posted:
Feb 10, 2008 - 09:34 AM |
|
|
why do not you take the money home?
then change it in your local china town?
this is what i did one time and it works perfect for me
now i do not know what rate they will give you, but it is a possibility.
if you are on short notice.
good luck. |
|
|
|
|
|
underh20
Shanghai Royalty
Joined: Sep 27, 2006
Posts: 9907
Location: EOA Seminar
|
| Posted:
Feb 10, 2008 - 10:00 AM |
|
|
^ Foolish idea.
The rate would be terrible. Why lose when he can easily change it here just by using an ordinary passport in any Bank of China? |
_________________
بارك الله ، بارك الله |
|
|
|
|
edbreejen
Raver
Joined: Apr 24, 2003
Posts: 432
Location: Shanghai, Zhongshan park area
Status: Offline
|
| Posted:
Feb 10, 2008 - 12:37 PM |
|
|
Another option: if you don't need it, keep the RMB and change to USD when you need it. USD will continue dropping against RMB and probably by a bigger % than the interest rate you get in the US. |
|
|
|
|
underh20
Shanghai Royalty
Joined: Sep 27, 2006
Posts: 9907
Location: EOA Seminar
|
| Posted:
Feb 10, 2008 - 12:42 PM |
|
|
| edbreejen wrote: |
| Another option: if you don't need it, keep the RMB and change to USD when you need it. USD will continue dropping against RMB and probably by a bigger % than the interest rate you get in the US. |
He's leaving Shanghai and only has 3000 RMB.  |
_________________
بارك الله ، بارك الله |
|
|
|
|
edbreejen
Raver
Joined: Apr 24, 2003
Posts: 432
Location: Shanghai, Zhongshan park area
Status: Offline
|
| Posted:
Feb 10, 2008 - 12:48 PM |
|
|
I'm puzzled about that as well. Either had a great time or did something terribly wrong |
|
|
|
|
|
underh20
Shanghai Royalty
Joined: Sep 27, 2006
Posts: 9907
Location: EOA Seminar
|
| Posted:
Feb 10, 2008 - 12:49 PM |
|
|
Probably an English teacher who spent all his money on booze and babes. |
_________________
بارك الله ، بارك الله |
|
|
|
|
edbreejen
Raver
Joined: Apr 24, 2003
Posts: 432
Location: Shanghai, Zhongshan park area
Status: Offline
|
| Posted:
Feb 10, 2008 - 01:00 PM |
|
|
Know quite a bunch of people who set aside this amount on an almost daily basis (maybe except for the weekend). Then it makes sense to spend your days in a city where no one can drive, while 100% of drivers think they are Niki Lauda before the accident. |
|
|
|
|
|
SnappySammy
Board Legend
Joined: Nov 01, 2007
Posts: 10143
Status: Offline
|
| Posted:
Feb 11, 2008 - 11:38 AM |
|
|
| fortune_nookie wrote: |
Go to bank of China on Huai Hai road down near Central and exchange with the people outside of the bank. Rate is about the same as the bank.
Also 3,000 RMB < 500 USD |
I think you must be drinking Rice Wine . You can also get a real Rolex for 100 rmbs, from the same people. Lets you can get a real Rolex and fake US Dollars |
|
|
|
|
|
|
|
Forum FAQ
Search
Preferences
Watched Topics
Log in to check your private messages
Log in
