@Napoleon. Not every CBC branch has dollars. In fact, they sent me to a specific one on remin lu. It's not impossible the ladies offer a better cash FX rate than the bank. As you pointed out, the electronic is better, so they could just be arbitraging that. Bank cash rates are pretty poor compared to interbank rates which electronic is closer too.
@goldie122. A decent number of CBC branches are open on a Sat or Sun. But sometimes no managers or anyone experienced, so only basic teller stuff mainly.
@Geezer. It's 500 at the CBC that had dollars I was sent to.
Campo, what is the difference in rate between the women and the bank that you have gotten?
Alien, the rates outside the bank are better than inside the bank and I avoid the hassle of time (1 hour+) and copies of passports and visa.
The rates change every day, so no matter what the rate is in the bank, the women are always better, that is how they maintain their business.
The banks and the woman have 2 rates, one for buying and one for selling, still better than the bank.
The diff is tiny but when you change large amounts it adds up to dollars. Could be 10 dollars, or 20, or 30 depending on how much was changed.
Other ppl have other experiences than Campo, and over here - say, asking them 4-5 times during last 5 years - each time rate worse than in bank. Significantly so even after bartering. So well worth to check out rate and that is not enough. Its common these days to put wrong amount in calculator after you have accepted a rate. This is very common in Mohan btw. Fake notes less so, but these days....
Oh, apparently i got this american cornflakes fed fatass nagging after just about every post put here.
@ Campo: Works that way in most countries, though in some the difference between bank rates and freetraders on the sidewalk are considerably larger than in China. Flip side is that you're unlikely to be cheated by the banks on the rates that they post.
Nothing new here except the degree to which it might be worthwhile to exchange outside the bank, and that perhaps depends on the amount of money you want to change. The OP wants to change Y3500 - perhaps the difference is significant to him, and he'll be alert to tricks that so many freelance moneytraders employ.
Thanks to everyone who posted!! I really appreciate it. This OP is a she and an American (fat ass and cornflakes - I don't eat cornflakes and well, fat ass is in the eyes of the beholder). Ha! I will get the going rate for changing CNY to dollars the day I go and I will compare both outside and inside with the day's rate. Our landlady is actually being quite agreeable and giving part of our deposit back today and then the last part next week, so that gives me more time to go over there and figure it all out. Thanks again!!! You all are very kind and informative!
@Peter... that comment is enough to get you a 30 day ban from this site and that poor American you are referring to will probably get offended. You should post when you are not too emotional and write slower... your post is unintelligible.
Well, goldie, you are pushing it there by continuously nitpicking on every post. I dont get kicks insulting you, but theres a limit too. I can deal with you if you cut away some of that constant nitpicking. Try some of that and we get along fine.
