Counterfeit Notes:

How to spot one? Rub you finger over the collar of Chairman Mao. If you feel a raised/rough surface then it's real money, if it is flat or smooth then it's a FAKE! This tip was given by a Bank of China officer, so get in the habit and you shouldn't get caught out. And speaking of money, it is VERY WISE to only use legitimate methods for exchange, using the black market or other unauthorised exchange methods is risky business and not worth the trouble for a few extra Yuan. Another trick to watch out for, especially in Beijing and when visiting the Great Wall is to make certain no Russian 20's get slipped in amongst your change at the market/street stalls as they are worth next to nothing in China yet look very similar in size and color to the Chinese notes.

Travelers Cheques:

Using travelers checks in the past has not been a problem but there have been some reports of problems such as the Bank of China giving people hassles over their signatures. The signature presented to the bank must match exactly to the signature already on the check. In other words both signatures have to be mirror images. Now we all know this is not always possible. When you sign your name on something it usually looks about the same, but might have some minute variation. And because of these "minute variations" in a persons signature the bank will not accept the travelers check. Instead, cash them at your hotel or the Agricultural Bank of China who doesn't seem to have this problem.

Credit and ATM cards:

If you decide to use credit cards, debit cards or ATM cards in China banks, it is a good idea to first advise your bank of the trip to China, because in a lot of cases when most banks receive a charge from overseas they may automatically "freeze" the card thinking that it is a fraudulent one. You could be in China, make one charge and for the second onwards, the card will be declined, then you will need to call your bank from overseas and OK it with them. So contact your bank credit card division and advise them of your travel dates and countries being visited.

Foreign credit and debit cards will work at the Bank of China, but it will depend on a little logo painted on the back (reverse side) of the card. If you are lucky to have the logos of "PLUS", "STAR" or INTERLINK", then your credit or debit card will work, if not, see you bank and organise it before you go.

        

Most banks use a four number format for PIN numbers. In China, they use a 6 numbers format. So, if using the card, when prompted for the PIN number, you enter the four numbers, and it is not accepted, then enter two zeroes followed by the PIN number. The best bank to use without problems appears to be The Bank of China from reports back to us.

Once the machine has finished the transaction and your card is returned, you need to remove it from the machine slot immediately, because after a few seconds the machine will assume you left and forgot to pick up the card, and it will move it back into the machine. Same thing with your money if it doesn't drop into a tray, the money if not removed quickly will be reversed back into the machine. So, do not decide to answer you phone or have a cigarette before getting the money and the card as you may loose both. From experience of members reported on the forum, there are varying amounts you can withdraw in one 24 hour period, it has been reported it varies between 2000 to 2500 rmb. If you need larger amounts you it's best and easier to go to a Bank of China with your passport to get larger amounts.

While your hotel and even the airlines may take a "foreign" credit card you will be hard pressed to find it accepted at department stores and elsewhere in China. From my own personal experience I have found Parksons the department store in Nanning accepts foreign credit cards.

And finally:

It's all common sense, but don't put your wallet down on a counter top while paying for something, snatch and grab can be common in some areas and watch out for pickpockets and don't flash large wads of cash about. A money belt could save you having to try and replace all your cards in an overseas country!
Of course if you are a member of the free forum you could contact our EMERGENCY EXPAT GROUP who while they don't lend money can help you with where to go and how to get replacements a lot quicker than you could by yourself.