Now your spending funds choices. Whether to take Cash or Currency Cards or other options.
It is important to note, that while this page discusses options you can consider, the choices are yours. Nothing beats research to select the best option or options which meet your requirements.
The Chinese currency is known as Remninbi or Yuan and has the Currency ISO code of CNY. Why are there two names for the currency you ask?
Both names are correct to use, but in slightly different ways.
Renminbi - is the official name of the currency introduced by the Communist People's Republic of China at the time of its foundation in 1949. It means 'The People's Currency'.
Yuan - is the name of a unit of the Renminbi currency. Something may cost one yuan or 10 yuan. It would not be correct to say that it cost 10 Renminbi. This explains the currency ISO code - CNY.
It is important to note when looking at exchange rates, that banks and other sources have different rates for the same currencies.
There are different rates for different financial instruments. In other words, if you buy currency for a 'currency card' then your rate will be different from the rate offered when purchasing foreign cash.
Suffice to say that unless you changing or buying thousands of dollars in foreign currency, then it is only a small difference in amounts you get but it pays to shop around for the best deal.
The question is, do you take Aussie dollars (AUD) or Renmimbi (CNY) cash or a combination. Well that becomes a personal choice.
I would suggest that you either take a small amount of Renmimbi with you for incidentals expences when you land, or convert some Aussie at your arrival airport. Overseas airports tend to offer better rates than Australian airports.
Our members found that the following currency shops provided the best exchange rates and service.
There are several options available. These include Bank currency cards, Mastercard and Visa currency cards, Qantas and Virgin Frequent Flyer cards or Australia Post - Load and Go China card.
Some issues with using these cards include;
This link take you to a Choice web site page to help you with your options Choice Currency Card Comparision