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ccvvbb
I walk into a bank in Shenyang, China, and am met by a middle aged woman who asks if I am exchanging money. I tell her I am and she offers me more than the going posted bank rate.

She looks at my money and I follow her to a teller, the teller looks over all of my bills, gives the woman a nod and then the woman withdraws money out of her bank account and hands it to me.

I cannot figure out why she gave more than the bank rate, how would this benefit her?


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Posted on: 7:10 pm on April 7, 2005
hypershade
While I was working in Guangzhou, I once tried sending 200USD with Western Union (an action that normally doesn’t take longer then 10 minutes). I was guided in the managers office and asked to fill in not 1 but 5 papers full with questions like: where did I get the money? What was my relationship to the person I was sending the money to? What was he going to do with it? What was my job? I declined and went to Hong Kong to send the cash.

My guess is that exchanging money is a similar enterprise: filling in papers and answering questions. I tried changing money twice in GZ and although there were displays in the bank with the exchange rates, there was not one single foreign banknote in the bank.

China is a different world, and they intend to keep it that way.


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Posted on: 9:24 pm on April 7, 2005
harold444
i had a similiar while exchanging a 100 us bill in tokyo,.they ask too many ?s for such a small amount, it makes one not want to spend money in their country.


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Posted on: 1:10 am on April 8, 2005
Cennn3
I was in Chongqing in March 05 and me and my ex wife went to the bank so that she could changed some RMB into English pounds. You have to pick a major branch of The Bank of China to change your money unless you do it at the airport. So she had to fill lots of forms and it took about 25 mintues but in the end they had the money there. You also get people on the street who changed money illegally I think but if you do not speak Chinese then you will not know what they are asking you. The banks in China seem to give a good rate of exchange from my experience, but how ordinary people can give a better rate and what they want the money for I could not say. China is a great place and very very cheap My ex wife told me that I as a foreigner was not allowed to changed money in the bank, seems a bit strange.


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Posted on: 10:09 pm on April 8, 2005
cyborg
Seems that I have heard of people needing to get their hands on US Dollars and other hard currencies to be able to get passports or something. Seems that some countries make it very hard for their citizens to acquire US dollars.

I believe this is why in some countries you see illegal money changers giving better rates.

Cyborg


Thai Women : Meet Matured Thai Women
Posted on: 4:50 pm on June 7, 2005
     

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