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Travellers Cheques

Travellers’ cheques are handy if you are travelling in large cities.  They can be exchanged at the main Bank of China branches as well as some hotels and department stores.  It may be hard to find a place to exchange the cheques in smaller towns and rural areas.  The bank of China charges a fee of 0.75% of the value of the cheque. 

At the beginning of 2006 the Bank of China accepted travellers’ cheques from 149 different companies.  Travellers’ cheques in the following currencies were accepted: US dollar, Euro, UK pound, Canadian dollar and Australian dollar.

If lost, travellers’ cheques can usually be replaced in 24 hours.  It will probably take longer than this if you did not personally buy the cheques.  Also remember to keep a record of the cheque numbers separate from the cheques.

The bank of China also sells travellers’ cheques for other banking groups including American Express and Citigroup.  There is a fee of 0.5-1.0% of the value of the cheque.