Comments on: How to survive banking in China http://foundinchina.com/2008/02/21/how-to-survive-banking-in-china/ Observations about China from beyond the Middle Kingdom Wed, 25 Aug 2010 20:19:49 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: How to piss off your bank in China | Foundinchina.com http://foundinchina.com/2008/02/21/how-to-survive-banking-in-china/comment-page-1/#comment-8967 How to piss off your bank in China | Foundinchina.com Wed, 28 Apr 2010 08:00:09 +0000 http://foundinchina.com/?p=7#comment-8967 [...] uplifting story of customer-turns-tables-on-bank, a solution has been found for people wishing to avenge all those wasted hours at the hands of Chinese banking incompetence, reluctance, and procrastination. There’s only [...] [...] uplifting story of customer-turns-tables-on-bank, a solution has been found for people wishing to avenge all those wasted hours at the hands of Chinese banking incompetence, reluctance, and procrastination. There’s only [...]

]]> By: st http://foundinchina.com/2008/02/21/how-to-survive-banking-in-china/comment-page-1/#comment-3296 st Sun, 03 May 2009 02:23:15 +0000 http://foundinchina.com/?p=7#comment-3296 bloody English teachers!!! Find me any retail bank in the world that trades your worthless penny using spot rate. bloody English teachers!!!

Find me any retail bank in the world that trades your worthless penny using spot rate.

]]> By: stuart http://foundinchina.com/2008/02/21/how-to-survive-banking-in-china/comment-page-1/#comment-30 stuart Thu, 20 Mar 2008 03:10:14 +0000 http://foundinchina.com/?p=7#comment-30 @ Zhongguoist, Thanks for that. I'll ask the Halifax if I can use their card with similar terms. @ Zhongguoist,

Thanks for that. I’ll ask the Halifax if I can use their card with similar terms.

]]> By: Zhongguoist http://foundinchina.com/2008/02/21/how-to-survive-banking-in-china/comment-page-1/#comment-28 Zhongguoist Wed, 19 Mar 2008 12:52:05 +0000 http://foundinchina.com/?p=7#comment-28 I don't transfer huge amount of money to China as I use my Nationwide card. I'm guessing you're transferring £thousands + thousands(which would be why such a steep decline during a short period of time) but for smaller amounts Nationwide is so much better. They don't charge you commission to withdraw money abroad I get a better exchange rate than the Bank of China with my nationwide card. So when I got to China in August last year I was getting 15odd RMB/£ about 7mao more than I could have got in the Bank of China official rate. So for smaller amount(up to £350?/day I think) Nationwide is great. Another trick to surviving the bank is to take an MP3 player or cut the queue yourself and then pretend you don't understand Chinese. Not that I would advocate that Oh no! Although yesterday I did pretend to not understand very much and I got to do a transaction(not changing money) having left all my ID at home. I don’t transfer huge amount of money to China as I use my Nationwide card. I’m guessing you’re transferring £thousands + thousands(which would be why such a steep decline during a short period of time) but for smaller amounts Nationwide is so much better. They don’t charge you commission to withdraw money abroad I get a better exchange rate than the Bank of China with my nationwide card. So when I got to China in August last year I was getting 15odd RMB/£ about 7mao more than I could have got in the Bank of China official rate. So for smaller amount(up to £350?/day I think) Nationwide is great.

Another trick to surviving the bank is to take an MP3 player or cut the queue yourself and then pretend you don’t understand Chinese. Not that I would advocate that Oh no! Although yesterday I did pretend to not understand very much and I got to do a transaction(not changing money) having left all my ID at home.

]]> By: cc http://foundinchina.com/2008/02/21/how-to-survive-banking-in-china/comment-page-1/#comment-23 cc Sun, 09 Mar 2008 12:44:35 +0000 http://foundinchina.com/?p=7#comment-23 Stuart, First, you need to make sure what kind of maket rate (14.316) you have. There are actually many market rates: the selling rate, the buying rate, the middle rate. Banks will always charge you at the rate not in your favour. Second, the CMB service is true, but they put in commission in the exchange rate as well. Stuart,

First, you need to make sure what kind of maket rate (14.316) you have. There are actually many market rates: the selling rate, the buying rate, the middle rate. Banks will always charge you at the rate not in your favour.

Second, the CMB service is true, but they put in commission in the exchange rate as well.

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