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creeper1
Joined: 24 Aug 2010 Posts: 481 Location: New Taipei City, Taiwan
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Posted: Thu Nov 08, 2012 4:24 am Post subject: Cashing Up At the End of A Contract |
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Any problems with this? The Chinese currency's largest denomination being 100yuan means you have a large brick of money if you are any good at saving. Going on a plane with that in your pocket isn't feasible.
So when changing Renminbi to US dollars seems the easiest thing to do. Do the banks wish to see proof that you earned that money.
BTW - my Z-visa was recently converted to a tourist L. |
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vikeologist
Joined: 07 Sep 2009 Posts: 600
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Posted: Thu Nov 08, 2012 6:43 am Post subject: |
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There's a limit to how much you can change at a time, which makes it not worth your while. Also, you are not allowed to take a huge amount of RMB out of the country in cash.
Basically the thing to do is get a Chinese friend to chage it for you at Bank of China. |
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go_grrrl
Joined: 27 Jun 2011 Posts: 25
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Posted: Thu Nov 08, 2012 4:59 pm Post subject: |
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I exchanged around 20,000 RMB at the airport and carried approx. $3,000 in the pockets of my cargo pants to go back to Canada. Western Union is expensive. China Post is a better and cheaper alternative. I'm not sure if China Post has a limit to how much you can transfer, though, because I did this 4-5 years ago. |
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johntpartee
Joined: 02 Mar 2010 Posts: 3258
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Posted: Thu Nov 08, 2012 11:12 pm Post subject: |
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Quote: |
Basically the thing to do is get a Chinese friend to chage it for you at Bank of China |
Make sure the Chinese friend has his government ID. Foreigners can change 500 USD per day, citizens can change 10,000. There is a procedure whereby you can change more yourself, but it requires a lot of paperwork from the employer (including a statement from some high-up in your organization). Not worth the trouble. Bank of China has the best rate of exchange and a reserve of USD. |
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