Thursday, July 15, 2010

Money Changers

To change our yuan back to dollars, we had to visit the Bank of China. Taxi drivers refused to take us because we weren't specifying which branch. Joe remembered that the bank we had gone to was across the street from a duck restaurant we'd visited, and they'd given us their card(above). The man saves everything! Sometimes, this is a very useful trait. We showed the card to a driver and were delivered to the bank right away.




It was not difficult to exchange our Chinese yuan for dollars. Rates are uniform, and the fees are low-- much lower than in the US. We did not have as good an experience redeeming the unused portion of the Visa Travel Debit Card we had purchased through the automobile club. Such cards offer ATM access in the currency of any country to which one travels using the going exchange rate. We've used these cards every time we've gone to China, and there's been no problem cashing in the balance until now. This time, we'd found that the rules had changed, and all kinds of fees and penalties were imposed for withdrawal.

Our credit union helped us through the process. The bank officer informed us that any bank or credit union can set up an international debit card, thus avoiding VISA's unreasonable surcharges. Contact me if you want more information.
Below: The Duck Restaurant and The Bank


No comments:

What does tomorrow mean? It is 5:30 pm here, but at home it’s 5:00 in the morning. I leave Weihai tomorrow and make a stop in Beijing. ...