I just left BOC where they told me that foreigners were no longer allowed to buy USD in China and I could not transfer 500 usd into my BOA account. Does anyone know anything?????

Sundancer, Go to the main Kunming branch of BOC on the corner of Beijing Lu and Ren Min Xi Lu. If you went to another smaller branch they may not be able to help you or they may not know what to do. You may need new form or document you did not have.

Hello everybody,

I know Im coming quite late in the conversation but I prefer continue this thread instead of opening a new one about the same subject.

I heard that nobody has been able to exchange any amount of money in China lately. I will need to exchange some RMB to USD soon and Im wondering how you guys have been doing that.

Thanks in advance :)

Where did you hear that?

Big news if it is true. Last month it was possible to buy dollars at the airports. Selling USD seems to be a very good and profitable business. Stopping it makes no sense as China is trying to improve currency transactions.

Is someone phishing for illegal, and unnecessary, black market info? Beware!

I have just spoken to the bank manager.
There are no new regulations or temporary restrictions on currency exchange in China.

tiger, thanks for killing a rumor before it panics people!

Also there is a money exchange near wangfujing in kunming..

I think I might have been the person who gave dani_om her information- I have been living in Kunming for almost 4 years, and for the past 3, I have been able to go to a money exchange place (not a bank, but a booth like the one that used to be on WenHuaXiang across from YunDaBingGuan) and exchange RMB into USD. Then, I could take it to the Post Office on LongXiangJie and, using Western Union send up to 1000 US for only a 15 USD fee, and up to 5000 USD for only a 20 USD fee. I had to send the money to a person in the States, and they'd deposit in my account for me. It was a few more steps, but much cheaper and less restrictive than doing it through a bank.

However, seemingly in conjunction with a recent gubment change (poor spelling intentional), both of the money exchange booths that we normally used have shut down, and whenever we go to Western Union, they tell us they are unable to do money transfers at this time. Also, recently when I was in Hong Qiao Airport in Shanghai, all of the money exchange booths were closed there as well (and it was a normal Monday). So, my understanding was not that you couldn't send money home through a bank, but that you could not exchange money at other money exchange places or use Western Union.

Possibly nothing to do with the new gubt. This looks like a regu latte enforcemeat issue, possibly closing a loophole. For people who lawn der kash, perhaps.

Looks like maybe we have to use the banks for a while until this flavour of the month wears off, or the issue/loophole is sorted.