Converting RMB back to GBP

Ask about visas and legal issues

Converting RMB back to GBP

Postby AJ2008 » Fri Dec 05, 2008 10:05 am

It is getting close to when I fly back to the UK for xmas.
When I return to the UK I think I will have about 2000rmb left in my wallet.
My question is.... will I be able to go to a post office in the UK to convert 2000rmb into british pounds ??
AJ2008
Squeeker
Squeeker
 
Posts: 16
Joined: Fri Oct 17, 2008 4:18 pm

Postby LondonBoy » Fri Dec 05, 2008 10:12 am

Yes, you can change RMB at most banks, definitely HSBC, in England.
LondonBoy
Barker
Barker
 
Posts: 141
Joined: Thu Dec 04, 2008 6:24 pm

Postby sinned69 » Fri Dec 05, 2008 10:17 am

yep. surely can do... if not UK post then any of the money changers will do... :)
45-50wpm w 3-5% error rate. i apologise now for my typos. - damn butter fingers :P
User avatar
sinned69
PopStar
PopStar
 
Posts: 1241
Mood: Cool
Joined: Wed Sep 01, 2004 5:15 pm
Location: Shanghai (2002-2004) Zhejiang (2005-current)

Postby AJ2008 » Fri Dec 05, 2008 11:24 am

great !
thanks for the replies
AJ2008
Squeeker
Squeeker
 
Posts: 16
Joined: Fri Oct 17, 2008 4:18 pm

Postby MoonOverMiami » Fri Dec 05, 2008 11:41 am

Why don't you just exchange the RMB2,000 at the airport? Can exchange up to an equivalent of USD$1,000 at Pudong Development Bank after the security check in T2. I think you can exchange up to an equivalent of USD$500 at the other bank kiosks....which is still over RMB3,000.
Charly: "Were you always this stupid or did you take lessons?"
Mitch: "I took lessons."
User avatar
MoonOverMiami
Fire-eater
Fire-eater
 
Posts: 2583
Joined: Mon Jan 07, 2008 9:58 am

Postby pendulum » Fri Dec 05, 2008 1:05 pm

If you change at the airport they will first change to US$ then to GBP so the rate wont be great
pendulum
Seeker
Seeker
 
Posts: 74
Joined: Thu Jun 12, 2008 10:36 am

Postby LondonBoy » Fri Dec 05, 2008 1:55 pm

pendulum wrote:If you change at the airport they will first change to US$ then to GBP so the rate wont be great


Probably, but the UK rate is terrible too, but it's a relatively small amount and it's better than holding on to RMB in England.
LondonBoy
Barker
Barker
 
Posts: 141
Joined: Thu Dec 04, 2008 6:24 pm

Postby Humac » Fri Dec 05, 2008 3:35 pm

LondonBoy wrote:
pendulum wrote:If you change at the airport they will first change to US$ then to GBP so the rate wont be great


Probably, but the UK rate is terrible too, but it's a relatively small amount and it's better than holding on to RMB in England.


You'll get about 200 pounds for your 2000rmb back home. My bank, Lloyds TSB, will change up to 20,000rmb per day into sterling. Thomas Cook and the Post Office should also be able to do it although I've had no experience with them.
Last edited by Humac on Fri Dec 05, 2008 3:52 pm, edited 1 time in total.
User avatar
Humac
Post Boaster
 
Posts: 4781
Joined: Sat Jul 07, 2007 9:48 pm

Postby chingiskhan » Fri Dec 05, 2008 3:51 pm

If you can get that rate then don't worry about changing it here, that's as good as you're gonna get (200 pounds for 2000 rmb) at the moment.
chingiskhan
Board Legend
Board Legend
 
Posts: 10117
Joined: Tue Apr 24, 2007 3:53 pm

Postby Humac » Fri Dec 05, 2008 3:54 pm

chingiskhan wrote:If you can get that rate then don't worry about changing it here, that's as good as you're gonna get (200 pounds for 2000 rmb) at the moment.


It changes daily though...so don't blame me if it gets worse! Lloyds have a website with exchange rates on it. www.lloydstsb.com
User avatar
Humac
Post Boaster
 
Posts: 4781
Joined: Sat Jul 07, 2007 9:48 pm

Postby medaman » Fri Dec 05, 2008 8:18 pm

MoonOverMiami wrote:Why don't you just exchange the RMB2,000 at the airport? Can exchange up to an equivalent of USD$1,000 at Pudong Development Bank after the security check in T2. I think you can exchange up to an equivalent of USD$500 at the other bank kiosks....which is still over RMB3,000.


This equivilent of 500 USD is now only available at BOC. All other banks were able to do this only during the olympic games. At least that's what ICBC told me when I tried there.
medaman
Barker
Barker
 
Posts: 128
Joined: Sat Sep 13, 2008 12:02 am

Postby MoonOverMiami » Fri Dec 05, 2008 9:20 pm

^Not even at the BoC. Granted it could be because the teller didn't want to change it, but the last time I went to exchange USD$500 the teller told me I needed to bring my airline ticket to prove I'm leaving the country and need the money. Like I said, probably BS and he didn't want to change the fund for me. Didn't absolutely need it then so I didn't press the issue.
Charly: "Were you always this stupid or did you take lessons?"
Mitch: "I took lessons."
User avatar
MoonOverMiami
Fire-eater
Fire-eater
 
Posts: 2583
Joined: Mon Jan 07, 2008 9:58 am

Postby goahead » Sat Dec 06, 2008 7:14 am

don't think change at the airport would be a great idea, last time they charged me 50 RMB for a procedure fee at the airport. hold on RMB till you get to the UK would be a better idea since there are always random charges in China. Change at airports... rates often suck
goahead
Talker
Talker
 
Posts: 101
Joined: Wed Aug 18, 2004 10:49 pm

Postby medaman » Sat Dec 06, 2008 7:44 am

MoonOverMiami wrote:^Not even at the BoC. Granted it could be because the teller didn't want to change it, but the last time I went to exchange USD$500 the teller told me I needed to bring my airline ticket to prove I'm leaving the country and need the money. Like I said, probably BS and he didn't want to change the fund for me. Didn't absolutely need it then so I didn't press the issue.


I've done so at BOC very recently, about 4 days in a row without any issues at the 天钥桥路 branch.
medaman
Barker
Barker
 
Posts: 128
Joined: Sat Sep 13, 2008 12:02 am

Postby greenmark » Sat Dec 06, 2008 8:54 am

天钥桥路

What's that in pinyin?
greenmark
Reacher
Reacher
 
Posts: 348
Joined: Thu Jul 28, 2005 3:12 am
Location: approaching Shanghai

Postby medaman » Sat Dec 06, 2008 9:36 am

I'm not too good at pinyin, but I'll give it a go:

TinYaoQiao Road. The nearest cross street is XinGeng Road.

Tell the people at the bank you wish to buy USD. They will give you a simple form to fill out.
medaman
Barker
Barker
 
Posts: 128
Joined: Sat Sep 13, 2008 12:02 am

Postby latina » Sat Dec 06, 2008 1:25 pm

Now it is pretty easy to change rmb into US dollars, most of the banks will do it for you without asking for letter from your job or so. You need to see if the bank has a currency converter signal on it and most of the China Construccion Bank have it, also the one close to Carrefour and the other branches around town, even though the rate is quite low but it is still convenient.
latina
Raver
Raver
 
Posts: 423
Joined: Thu Aug 24, 2006 5:28 pm

Postby Humac » Sat Dec 06, 2008 4:57 pm

^ But the OP was wanting pounds not dollars!
User avatar
Humac
Post Boaster
 
Posts: 4781
Joined: Sat Jul 07, 2007 9:48 pm

Postby MoonOverMiami » Sat Dec 06, 2008 5:25 pm

latina wrote:Now it is pretty easy to change rmb into US dollars, most of the banks will do it for you without asking for letter from your job or so. You need to see if the bank has a currency converter signal on it and most of the China Construccion Bank have it, also the one close to Carrefour and the other branches around town, even though the rate is quite low but it is still convenient.


Most banks will do it, but it also depends on the teller. My branch on cheng zhong rd in Qingpu have a bunch of really lazy or uninformed employees. I have no doubt if I go into Shanghai to make the exchange it would be no problem. Just a problem here in Qingpu...which is also why I opened a second account with ICBC. At least they're more willing to help me.
Charly: "Were you always this stupid or did you take lessons?"
Mitch: "I took lessons."
User avatar
MoonOverMiami
Fire-eater
Fire-eater
 
Posts: 2583
Joined: Mon Jan 07, 2008 9:58 am

Postby MoonOverMiami » Sat Dec 06, 2008 5:30 pm

goahead wrote:don't think change at the airport would be a great idea, last time they charged me 50 RMB for a procedure fee at the airport. hold on RMB till you get to the UK would be a better idea since there are always random charges in China. Change at airports... rates often suck


Considering their rate is close to the official exchange rate in China, a RMB50 commission fee ain't too bad. Pay RMB50 to exchange RMB7,000 into the currency you want...I find it acceptable considering the poor exchange rates you get from Travelex in HK.
Charly: "Were you always this stupid or did you take lessons?"
Mitch: "I took lessons."
User avatar
MoonOverMiami
Fire-eater
Fire-eater
 
Posts: 2583
Joined: Mon Jan 07, 2008 9:58 am

Postby medaman » Sat Dec 06, 2008 6:42 pm

MoonOverMiami wrote:
latina wrote:Now it is pretty easy to change rmb into US dollars, most of the banks will do it for you without asking for letter from your job or so. You need to see if the bank has a currency converter signal on it and most of the China Construccion Bank have it, also the one close to Carrefour and the other branches around town, even though the rate is quite low but it is still convenient.


Most banks will do it, but it also depends on the teller. My branch on cheng zhong rd in Qingpu have a bunch of really lazy or uninformed employees. I have no doubt if I go into Shanghai to make the exchange it would be no problem. Just a problem here in Qingpu...which is also why I opened a second account with ICBC. At least they're more willing to help me.


Have you guys actually tried after the olympics? 2 branches of ICBC tells me only BOC can do it now. I'm talking about the 500USD equivilent forex.
medaman
Barker
Barker
 
Posts: 128
Joined: Sat Sep 13, 2008 12:02 am

Postby LondonBoy » Sat Dec 06, 2008 7:15 pm

I don't think that's correct. The rules were relaxed some time ago not related to the Olympics, which was a separate relaxation that ended in October. I've changed RMB to dollars at Agricultural Bank but admittedly I haven't tried post Olympics, but it doesn't make a lot of sense that different rules apply to different banks.
LondonBoy
Barker
Barker
 
Posts: 141
Joined: Thu Dec 04, 2008 6:24 pm

Postby latina » Sat Dec 06, 2008 8:11 pm

I have change well not 500 but 200 US dollars 03 weeks ago in the CCB located close to Gubei Carrefour and there was no problem at all, i also was doubting about it as i have tried in the past with BOC, but the teller only askme how much US dollars i wanted to change after i told 200 US she told me the exchange rate which was pretty low but still convenient. She of course ask for my passport to make a copy of it, then i realized the CCB located closer to my home has also the same sign of exchage. So i think it shouldn't be a problem at least it was like that 03 weeks ago.
latina
Raver
Raver
 
Posts: 423
Joined: Thu Aug 24, 2006 5:28 pm


Return to Legal Issues

 


  • Related topics
    Replies
    Views
    Last post

Who is online

Users browsing this forum: No registered users and 0 guests