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Post by Dragonsaver on Oct 10, 2005 11:35:28 GMT 7
I know this has been on the saloon before, but no matter how I worded it, I couldn't find the thread in the search mode. I need to change Chinese money to Canadian money. I was told yesterday I had to wait 3 months, then she would take me downtown to the China Bank and exchange up to 70%. I don't want to wait 3 months. I need to send money home to pay bills.  I need the name of the 'non-official' money changers so I can ask my students where to find one. I could always come back down to Suzhou and get it done there if it would be easier. Anyhow, advice required, PLEASE!  |
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Decurso
Barfly
Things you own end up owning you
Posts: 581
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Post by Decurso on Oct 10, 2005 12:09:13 GMT 7
Stand around the main branch of the Bank of China looking confused.You will be swarmed with black market currency dealers.Safe,fast and easy.You also sometimes get a better rate than the bank.
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Post by Raoul Duke on Oct 10, 2005 16:58:23 GMT 7
DON'T go stand around the bank by yourself! Send a Chinese friend. Otherwise this is a good way to get yer ass handed to you. The Chinese friend will also get a much better rate than you...In this setting it's better if the money changers don't ever even see you .
Best way is to ask a local friend if they know someone who can change the money for you. US dollars are the easiest to get but it may also be possible to buy Frostbacks.
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Post by con's fly is open on Oct 10, 2005 17:24:28 GMT 7
Canuckbucks might be tricky. If so, just get greenbacks: the major Canuck banks switch them over for you, and TD/Canada Trust skimmed very little off of me. Hit their website to make sure.
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Post by Dragonsaver on Oct 10, 2005 18:16:58 GMT 7
I have no problem with exchanging for US funds. Is it Western Union that we use to wire the money??? Are they located in every city?? TD Canada Trust even if they would change them, I would have to send them and I wouldn't like to send cash through the Chinese mail system. The Cdn mail system is also light fingered at times.  I know I could change them once I got back to Canada, but I need to do it frequently from here. I will ask one of my students about this and try and make an arrangement. Where is Babe when you really, really, need her!!!  |
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Post by George61 on Oct 10, 2005 18:45:51 GMT 7
Western Onion can (urally) be found at the Agricultural bank
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Decurso
Barfly
Things you own end up owning you
Posts: 581
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Post by Decurso on Oct 10, 2005 21:02:07 GMT 7
Search for the thread "Sending Money Home".Raoul gives a step by step account of how to send money with Western Union at my humble request.I followed his instructions to the letter and have had no problems sending money home.It's intimidating at first...but as long as you get help from a Chinese friend(or your FAO) it's no problem.
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Post by con's fly is open on Oct 11, 2005 17:38:27 GMT 7
What Decurso said. And don't mail cash- too risky, being both illegal and a feast for thieves. Either go Western Union if you want to send it to a person (a human ahs to pick it up), or via bank transfer.
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Post by Dragonsaver on Oct 11, 2005 19:32:25 GMT 7
Search for the thread "Sending Money Home".Raoul gives a step by step account of how to send money with Western Union at my humble request. For me the search function doesn't work. I put in the words 'sending money home', and went up to 90 days and the only result was your post saying to search. I had previously searched using all sorts of word combinations and got 'zero' results. That is why I started this thread. |
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Ruth
SuperDuperMegaBarfly 
God's provisions are strategically placed along the path of your obedience.
Posts: 3,915
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Post by Ruth on Oct 11, 2005 20:19:55 GMT 7
It's probably older than 90 days, then. Seems like last winter when it was being discussed on here.
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Post by Dragonsaver on Oct 11, 2005 20:44:10 GMT 7
Found it. It was actually August of this year. That was why I was confused as I remembered posting to it. Why it wouldn't show I will never know. I finally went back 490 days and then it showed up.  |
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Post by Edges on Oct 15, 2005 14:44:59 GMT 7
Are you aware of any problem with fake currencies? As in by trying to get a better rate receive fake $USD?
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Post by Mr Nobody on Oct 15, 2005 18:57:30 GMT 7
only heard of fake Chinese money, not US, myself.
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Ruth
SuperDuperMegaBarfly
God's provisions are strategically placed along the path of your obedience.
Posts: 3,915
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Post by Ruth on Oct 16, 2005 7:35:35 GMT 7
Not sure there is enough market over here for counterfeiters of US$ to make it worth their time. However, anything's possible, I guess. As with anything anywhere, especially from a dodgy moneychanger - buyer beware. There are ways to check for fake bills. Of course, this is a problem if one has sent a Chinese buddy to make the transaction.
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yijin
Up And Coming
Posts: 13
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Post by yijin on Oct 17, 2005 21:32:22 GMT 7
Hey, everyone, regarding this matter, I have something necessary to you.
1 Exchange money in banks as possible as you can.
2 if above don't seems ok, ask a Chinese friend to deal with it, who will do the transaction between acquaintance, waiting outside a bank? don't u fear stealthy malefactor?
3 counterfeit RMB as well as fake USD are all seen somewhere in China, so be cautious enough!
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Post by con's fly is open on Oct 17, 2005 21:52:01 GMT 7
I agree with 2 and 3. If you're receiving a lot of big bills, try to get them out of a bank. And exchanging with a stranger sounds terribly risky. But Banks charge a hefty fee for the transaction- the private guys give better deals. The best deal is a private guy with whom you have some guanxi, IMHO.
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Lager
SuperBarfly!
Posts: 1,081
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Post by Lager on Oct 18, 2005 5:05:15 GMT 7
I thought I was stuck with a pile of kuai when I came home but it's a routine thing now. Change it when you land in Vancouver or T.O.
Why do you need to stockpile loonies? Not that there;s anything wrong with that.
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Crippler
Barfly
Beware the conspiracy!
Posts: 345
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Post by Crippler on Oct 18, 2005 7:30:23 GMT 7
So how much difference can you expect between the bank and a private dealer?
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Post by Dragonsaver on Oct 22, 2005 19:49:41 GMT 7
So how much difference can you expect between the bank and a private dealer? I would like to know that also. My Uni may only allow the 'official way', but if I can do some of the money the other way it would be beneficial to my bank account. |
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Post by con's fly is open on Oct 22, 2005 21:44:17 GMT 7
I can't remember the numbers, but the difference didn't seem gargantuan to me at the time.
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