Chinese RMB rates..

[prcsytlover]

Originally Posted by northeast

老兄；是我是我！不知道没位写，多两份少两份应该是没关系吧？我说你不在这，我们少1只脚，该 怎么办？

对不起哦。。 我老人家记忆不好。。

我在哪里认识你啊？

[DrPussy]

Originally Posted by prcsytlover

对不起哦。。 我老人家记忆不好。。

我在哪里认识你啊？

在哪个。。。 哪个。。。 哪个什么名字的鸡房里啊，你忘了吗？我们在哪一人开了一只鸡啊 :d:d

[console]

Just cam eback from RP...

03 May 2011, 1200hrs rate, 5.252

[genius]

I was in Beijing last week, the exchange rate there is about S$1 : RMB4.86

Avoid changing in China..

I would suspect using Credit Card will have very poor exchange rate. Major cities like Beijing and Shanghai, Visa/Master card are usable but in the Southern cities like GuangZhou, ShenZhen, Zhuhai... such cards are usually not accepted..

[ahbengsony]

Originally Posted by genius

I was in Beijing last week, the exchange rate there is about S$1 : RMB4.86

Avoid changing in China..

I would suspect using Credit Card will have very poor exchange rate. Major cities like Beijing and Shanghai, Visa/Master card are usable but in the Southern cities like GuangZhou, ShenZhen, Zhuhai... such cards are usually not accepted..

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Hi ,try using normal atm withdrawal. I did a few withdrawal using a few local banks @ 5.19 plus SGd 8.42 service charge per transaction under PLUS .

[adidas88]

Originally Posted by ahbengsony

--------------
Hi ,try using normal atm withdrawal. I did a few withdrawal using a few local banks @ 5.19 plus SGd 8.42 service charge per transaction under PLUS .

wow ... S$8.42 charge per transaction !!!! that's pretty high rate ...
i always used citibank card and there's no transaction fee involve and the exchange rate r not too bad too ...

[happy000]

Of course the exchange rate suck - so many parties want to suck you dry dry. . Your credit card issuing bank, the franchise holder (visa/master) and the transacting bank all need to make money from you or else why they so kaypoh to provide the convenience to you.

Unless in emergency I will never use credit card for foreign currency transaction. Normally I will buy a few demand draft from either BOC, ICBC in Singapore. It is demoninated in Singapore dollars and they charge a handling commission (I think it's $10 or $20). I have the demand draft payable in the cities I will be visiting such Guangzhou, Shanghai, Beijing etc. If I am short of RMB I will then go to the branch named in the demand draft to cash in RMB (the exchange rate is comparable in Singapore). Normally I have a few demand drafts for S$2,000 to S$3,000 each payable in 3 to 4 cities.

If I do not use any of the remaining demand drafts I will have it refund when I am back in Singapore. No commission payable for refund and there is no exchange rate risks.

Originally Posted by genius

I was in Beijing last week, the exchange rate there is about S$1 : RMB4.86

Avoid changing in China..

I would suspect using Credit Card will have very poor exchange rate. Major cities like Beijing and Shanghai, Visa/Master card are usable but in the Southern cities like GuangZhou, ShenZhen, Zhuhai... such cards are usually not accepted..

[adidas88]

Originally Posted by happy000

Of course the exchange rate suck - so many parties want to suck you dry dry. Your credit card issuing bank, the franchise holder (visa/master) and the transacting bank all need to make money from you or else why they so kaypoh to provide the convenience to you.

use the credit card for official business ...

Originally Posted by happy000

Unless in emergency I will never use credit card for foreign currency transaction. Normally I will buy a few demand draft from either BOC, ICBC in Singapore. It is demoninated in Singapore dollars and they charge a handling commission (I think it's $10 or $20). I have the demand draft payable in the cities I will be visiting such Guangzhou, Shanghai, Beijing etc. If I am short of RMB I will then go to the branch named in the demand draft to cash in RMB (the exchange rate is comparable in Singapore). Normally I have a few demand drafts for S$2,000 to S$3,000 each payable in 3 to 4 cities.

another good option ... but ain't it easier to use bank atm card instead ??
u can withdraw from any atm machine with the PLUS facilities ...
depending on which bank card u r using, some of the bank have pretty good rate and low transaction charges ...

[adidas88]

rmb exchange rate at 1200hrs

PPC 5.23
RP 5.235

[wolfmaster]

Originally Posted by adidas88

rmb exchange rate at 1200hrs

PPC 5.23
RP 5.235

Bro...
seems good rate..
by the way checking which card provide best access to withdrawn RMB from china. most ATM allow POSB plus to draw only 2000RMB per transaction & Bank charge $5 per transaction...
not worth leh..

[nokia88]

4th may 2011 mustafa 5.2356

[prcsytlover]

Originally Posted by wolfmaster

Bro...
seems good rate..
by the way checking which card provide best access to withdrawn RMB from china. most ATM allow POSB plus to draw only 2000RMB per transaction & Bank charge $5 per transaction...
not worth leh..

Heng sheng at miraton can draw 3k rmb at 1 go.

Ccb at tian hong can draw 5k. But there is 3 ATM, only 1 can draw 5k. The rest is 2.5k.

Hope this info helps.
Ps. Info as of last dec 2010.

[prcsytlover]

Originally Posted by prcsytlover

Heng sheng at miraton can draw 3k rmb at 1 go.

Ccb at tian hong can draw 5k. But there is 3 ATM, only 1 can draw 5k. The rest is 2.5k.

Hope this info helps.
Ps. Info as of last dec 2010.

Also if I dun remember wrongly,

Charges as follow

DBS/posb $5
HSBC $5
Ocbc $20
Citi free ( according to CK, if got charge please claim from him )

The rest dun know. Never use before.

[prcsytlover]

Originally Posted by adidas88

rmb exchange rate at 1200hrs

PPC 5.23
RP 5.235

I just call ppc they tell me 5.22 only. They want to makan my 0.01!

Tt rate 5.26

[happy000]

Depending on the amount - if the amount is small the exchange rate differences are not so great.

Alway remember - there is no free lunches. The more conveniences you get the more you have to pay. Using PLUS involve at least three parties - every party need to make some money from you. . The fee they collected from you may include transaction fee and of course exchange rate differences.

Originally Posted by adidas88

use the credit card for official business ...

another good option ... but ain't it easier to use bank atm card instead ??
u can withdraw from any atm machine with the PLUS facilities ...
depending on which bank card u r using, some of the bank have pretty good rate and low transaction charges ...