How to bring money when traveling and shopping abroad?

Exchange local currency or carry a credit card abroad.

With the improvement of China people's economic level, the number of people leaving the country is increasing at a high speed every year. Whether traveling abroad or on business, you always have to spend money.

The overseas mentioned here refers to countries (regions) that use non-RMB circulation, including three special provincial administrative regions in China.

1. Carrying foreign currency cash from China.

Every country (region) has its own legal tender in circulation, which is a symbol of economic sovereignty, while domestic consumption is RMB, and there will be no foreign currency, so it is necessary to buy (exchange) foreign currency from banks and other institutions.

In addition to counter exchange, most bank online banking supports online exchange, that is, "foreign exchange purchase". If foreign currency is sold to a bank, it is "settlement of foreign exchange". There will be a difference between cash and cash when purchasing foreign exchange. See the exchange rate quotation page of China Bank for details. All the currencies you can exchange are listed above. Note that many currency outlets outside the US dollar may have no cash. Please make an appointment in advance.

Both cash and cash can be kept in the bank, and cash can also be taken out for use abroad. Cash is generally used for overseas remittance or purchase of investment and wealth management products. The selling price of cash and cash bank is the same, but the buying price of cash is much lower than that of cash bank, so cash is more valuable than cash. The bank said that the cash bought by the bank can only be used if it is shipped abroad, and the cost is relatively high, so it is natural to reduce the purchase price.

So be sure to remember that it is best to use foreign currency cash when exchanging. Don't take it back to China and sell it to the bank after use. The price difference is very large.

At present, China implements the foreign exchange control policy, and each domestic citizen can buy foreign exchange equivalent to 50,000 US dollars in RMB every year, and the settlement of foreign exchange is also limited to 50,000 US dollars. Therefore, banks must rely on resident identity cards to exchange foreign currency. For most people who don't intend to emigrate, 50 thousand dollars is enough. Even if it is not enough for everyone in the family, the money is anonymous anyway.

Large amounts of cash must be declared to the customs when leaving the country (for example, China Customs requires a certificate of foreign currency carrying by a bank of more than US$ 5,000), and many countries also need to declare large amounts of cash when entering the country (for example, US Customs requires a declaration of more than US$ 0/0000). Note that it is only a declaration, and there is no need to pay taxes. As long as the source and use are legal, there will be no difficulty. Deliberate concealment may lead to fines or even confiscation.

There is nowhere to exchange the currencies of other small countries, so we can only exchange them locally with the international currency US dollars. The English name of the EXCHANGE point is Exchange.

Two. Withdraw money from ATMs of overseas banks.

There are fewer and fewer cases of long-distance travel with a lot of cash in China, because everyone is used to withdrawing money from different places with various bank cards, even if it is worthwhile to pay some handling fees, because it is safer.

Most bank cards in China withdraw money through the overseas UnionPay network, which is not much more expensive than other places in China. Generally speaking, the overseas handling fee around 10~ 12 yuan is increased according to the standard of 0.5% to 1% in other places in China, which means it is only more expensive than other places in China 10 to 12 yuan.

As mentioned earlier, there is a magical bank, Huaxia Bank. The debit card withdrawal inquiry of this bank is free, and the number of transactions exempted by branches in different regions is different. Some branches trade 1 on an average daily basis, and some branches trade 10 on an average daily basis. You can call 95577 for consultation. Although there are not many outlets in Huaxia Bank, it is worthwhile to go there in order to save tens of dollars in handling fees.

There are also many small bank cards, which are banks named after cities. It is very likely that these cards are free to withdraw money all over the world. Please consult your local bank for details.

In addition to withdrawing money, overseas ATM inquiries are generally charged. The average amount of money in large banks is within 4 yuan, and small banks are cheaper or free like Huaxia. Therefore, it is suggested to open SMS reminder and international roaming, so you can easily know the balance without spending money to check.

Foreign withdrawals are naturally local currency. The advantage is that you can get local mainstream banknotes. Some ATMs can also choose to take banknotes of different denominations. If only large denominations are often exchanged in domestic banks, foreign stores generally do not accept them.

The above is only the situation of overseas withdrawal of UnionPay debit card. ATMs supporting UnionPay abroad can be inquired in official website, China UnionPay.

If there is no ATM supporting UnionPay in some areas, you can use the international VISA/MATER debit card to withdraw cash. This charge is a little expensive, usually 3% plus 1.0% currency conversion fee, but it is better than taking cash to these countries and being robbed. In addition, individual banks' international credit cards have a free cash withdrawal function. Here is the Great Wall Global Travel Card newly launched by Bank of China. This is a VISA debit card with EMV chip, free of currency conversion fee. Bank of China only charges a handling fee of $3 for each overseas withdrawal. For example, taking 500 dollars at a time, the handling fee is lower than other places in China.

It should be noted that UnionPay is now promoting PBOC chip cards, while overseas ATMs/POS may not be compatible with UnionPay chip cards at present, so UnionPay chip cards may not be available. It is suggested that if you plan to use UnionPay abroad, you must bring a pure magnetic stripe card as a backup. However, the pure magnetic stripe card may be stolen and swiped overseas. It is recommended to withdraw cash from the card overseas, and generally no money is put.

Tips: Many overseas ATMs spit cards first and then banknotes. In case of abnormal conditions such as machine failure and not spitting money, it is best to print the receipt as a voucher, and contact UnionPay (UnionPay has a local Chinese service hotline in major tourist countries, which can be inquired on the website) and the issuing bank to follow up in time. Because overseas withdrawal involves many links, if it is not followed up in time, it may be handled very slowly.

Third, UnionPay credit card payment.

Following the footsteps of China people, China UnionPay has spread all over seven continents 140 countries and regions. Most countries and regions visited by China people basically have UnionPay networks. For details, please check the website of China UnionPay. Note that some countries may support UnionPay ATM, but not UnionPay POS.

In the process of swiping the card, overseas merchants may check their signatures more carefully and ask for passports, so please don't use other people's cards to avoid unnecessary trouble. If you don't have a credit card or can't apply for a credit card, it is also a good choice for families with credit cards to apply for supplementary cards.

Fourth, international credit card payment.

International credit cards are four international organizations: VISA/MASTER/AE/JCB. Because they are all from abroad, they are called international cards.

If there is a sign of VISA/MASTER/AE/JCB on the credit card, it is an international card.

VISA/MASTER is the boss and the second child of the international card organization respectively, so it is best to use it in places where UnionPay can't be used, and AE and JCB may not be used. Generally, merchants accept VISA and MASTER cards, but it is also said that VISA coverage in Asia-Pacific region is better than MASTER, and MASTER in Europe and America is better than VISA, so it is recommended to bring two cards conditionally. In addition, AE has a good coverage in the United States, and you can bring it to the United States. JCB is a Japanese company that can consider bringing it to Japan.

In the early years, these cards issued by domestic banks were all US dollar cards, and the currency conversion fee ranged from 1.2%-2% when they were not used in US dollars. This charge is also one of the reasons why China tourists use cash for fear of being charged by banks. There is no currency conversion fee for dollar consumption, except for individual bank cards (such as some cards of Huaxia Bank and Minsheng Bank, and there is also conversion fee for dollar consumption).

In addition to dollar cards, China Bank and China Construction Bank also have euro credit cards, which are suitable for the euro area. Compared with the following all-currency cards, the biggest advantage is that the tax refund is directly recorded in euros, and it will not be reported by the tax refund agency because it is converted into dollars. In addition, other banks have some small sterling credit cards and Australian dollar credit cards, which have been forgotten with the birth of all-currency cards.

With UnionPay as the selling point and the population of 65.438+0.3 billion as the backing, the overseas power of UnionPay is increasing day by day, and several foreign card organizations can't sit still. Since 2065.438+03, domestic banks have begun to issue all-currency cards free of currency conversion fees regardless of the currency they consume. The following are some common cards:

Bank of China full currency card

VISA/MASTER has two choices: platinum card and gold card, which are relatively large in choice and chips, and according to ancient theory, the success rate of swiping cards outside such a large bank is high. In addition, China Bank's Zhuojuan Card and Air China's full currency are also good.

China Merchants Bank Full Currency Card

China Merchants Bank has no advantage in exchange rate and points, and its overseas activities are also average. However, considering that there are many users holding China Merchants Bank cards, it is very convenient to apply online, with a click of a mouse and a chip, and the PAYWAVE function is similar to the flash payment of UnionPay (China Bank's card does not have this function for the time being), so it is also recommended here. Only the VISA version belongs to the signature card, and some foreign businesses can enjoy special rights. In addition, the online banking control quota of China Merchants Bank is very convenient, which is suitable for Haitao to use and open.

China CITIC Bank Full Currency Card

The card is well made, and the three points can be described as the conscience of the industry. Similarly, only the VISA version of the signature card, the intensity of overseas activities is also good: cash withdrawal is free, but unfortunately, if you withdraw cash, you can only deposit it as a debit card first, otherwise the overdraft interest will be great; 5% after spending over 3000, but unfortunately I have no chips for the time being.

These three full-currency cards have the same feature that there is no UnionPay icon to support UnionPay, and there may be no places to swipe cards in China, but they are all directly and unconditionally exempt from annual fees, so there is no need to consider how to collect annual fees in China. If you go to a country outside the United States, it is strongly recommended to apply for the above card. The advantages of making a chip card are: firstly, it can avoid being stolen (for example, brush theft is rampant in Southeast Asia); secondly, many self-service terminals, such as ticket vending machines in railway stations and self-service stand-alone machines in McDonald's, can only use the chip card (using the chip card overseas may require a PIN code, usually the first four digits of the card withdrawal password).

In addition, there are Guangfa Student Card, CCB Longka Global Payment Credit Card and ABC Jinsui Youyou World Credit Card without chips.

Finally, there is an ingenious card, ICBC's multi-currency card, whose name is not as good as full currency. This card has 65,438+00 foreign currency accounts, and the consumption of these 65,438+00 currencies is directly recorded in this currency, and the repayment is also made in this currency. There is no conversion fee for other currencies for bookkeeping in US dollars. Theoretically, using this card should be the lowest exchange rate, because it is all the conversion between RMB and the country's currency, and there is no conversion between RMB and US dollars to the country's currency. However, countless card friends have proved that the exchange rate is often higher than the exchange rate of a card for one dollar, which also proves why international trade should be settled in US dollars, because the transaction volume between US dollars and currencies of various countries is huge and the transaction cost is low, so the exchange rate has an advantage. Moreover, the card has no advantage in handling tax rebates, and non-US dollar tax rebates are also treated as US dollars, resulting in heavy exchange rate losses. The only advantage is that a small amount of cash brought back from abroad can be directly used to pay back the credit card. Therefore, this card is not recommended unless you are an expert specializing in the trend of international exchange rates or a crocodile earning non-US dollars.

Compared with UnionPay cards, international cards often have an advantage in exchange rate. Especially the currencies of some small countries, because the transaction volume of UnionPay is small, the transaction cost will be high, and the exchange rates such as V/M are more competitive. Therefore, if there are international cards that don't charge conversion fees (for example, most of the cards used in the United States are US dollars, and all the cards used in the world are the above-mentioned all-currency cards) and choose UnionPay cards at the same time, please give priority to the international cards, but pay attention to DCC.