Money and currency preparation with Great Wall Hiking, Trekking, Walking and Sleeping

MONEY AND CURRENCY

How much spending money do I need?
Not a lot! Your entrance fee, accommodation, transport and hiking guide are included. A regular Chinese meal will cost RMB 30-50 (USD 5-8). A bottle of water will cost RMB 1 in supermarket in Beijing, and RMB 3 on markets near the wall. Depending on where you are, you'll generally get by on about US$20 a day, covering meals, drinks and the like.

What is the best way to take money with me?
Cash, travellers cheques, or credit cards… that is the question! The safest way to carry money with you is in the form of credit cards; however, many of our past clients have said they wished they had brought more cash with them because of the difficulty in withdrawing cash in remote areas etc. We recommend a combination of the them - cash, credit card and travellers cheques, but be aware that most insurance companies will not cover for the loss of cash. As a general rule, American Dollars are accepted at the banks in Beijing, but make sure you have small denomination bills, and that they are not ripped or marked, as this may affect your ability to change them. When doing a multi-day hiking, you have to prepare Chinese cash before your departure from Beijing as there’s no ATM near the wall, nor can the guesthouse accept foreign currencies.

What is the currency in China?
China's legal tender is Renminbi (RMB). Foreign currencies can not be used directly in mainland China.

The basic unit of RMB is Yuan. 1 Yuan (or Kuai) =10 Jiao (or Mao). RMB is available in both paper notes and coins. The denominations of paper notes are 100, 50, 20, 10, 5, 2 and 1 Yuan; 5, 2 and 1 Jiao. The denominations of coins are 1 Yuan; 5 and 1 Jiao. The currency in Hong Kong is HK dollar.
Foreign currencies may be converted into RMB at all banks, bank branches or hotels at the exchange rate quoted on the foreign exchange marker on the day. When you exchange money at the banks, you should ask for a certificate, with which you can change RMB back to foreign currency when you leave the country.

The Bank of China is the bank which specializes in handling credit cards issued in foreign countries. They include Visa, MasterCard, Diner's Card, American Express, JCB, Million Card and Federal Card. These cards can be used at international hotels and shopping centers where the Bank of China has branches.

Is it easy to find an ATM in Beijing/China?
You won’t have any problems finding an ATM in the main cities in China like Beijing, though you probably won’t be able to find one in remote areas or the smaller towns. The rapid emergence of ATMs in main cities in China means that you can now withdraw money from your Visa or MasterCard accounts, or even directly from your savings account, if you are linked with Cirrus or Maestro. Whilst this can make things extremely convenient, we advise that you do not rely solely on this form of obtaining funds, as there will not always be an ATM handy. Credit cards can also be useful, but we suggest you bring these in case of an emergency, rather than as a day-to-day spending tool.

What credit cards are accepted in China?
Most of the internationally accepted credit cards are usable in China, including Visa, MasterCard, American Express, Diner's club, and the JCB card of Japan.

Credit cards are accepted only at international hotels, large shopping malls and stores and top-end restaurants. Usually the local restaurants, shops and supermarkets will not accept credit card payment.

Which traveller’s cheques are handled by Bank of China?
Issued by Currencies
Thomas Cook USD HKD CAD AUD JPY CHF GBP
International Payment Co. USD GBP CAD
American Express Co. USD
Citibank USD
Nanyang Commercial Bank USD HKD
Swiss Bank CHF
Bank of Tokyo JPY
Mitsui Bank JPY
Sumitomo Bank JPY
Fuji Bank JPY
If you have any problems, please contact the Bank of China, Beijing Branch (Tel: 86-10-6303 5128).

Is tipping common place in China?
Yes, tipping is commonplace in travel industry in China. Tipping is expected - though not compulsory - and shows an expression of satisfaction with the people who have assisted you on your tour. Although it may not be customary to you, it is of considerable significance to the people who will take care of you during your travels. You may do this individually or as a group at the end of the tour.

If you go to a local restaurant or catch a taxi, it’s no necessary to tip the service provider.

Can I bring gifts for people?

If you want to give something to the local people please bring something useful like pens or school books, not lollies. The other thing we insist upon is that the distribution of these gifts are done in an organised manner - either through the headmaster of a school or ask your tour guide what the most beneficial approach is. Some children, and even adults, may ask for things on the street, in villages, etc, and although giving a ‘present’ may give both of you a brief moment of joy, handing things out like this only encourages begging and is destructive in the long term.