Comments on: How To Travel With A Light Wallet In China http://calpolymbatrip.com/2007/china/how-to-travel-with-a-light-wallet/ The MBA Graduate Program at Cal Poly Fri, 18 May 2012 16:33:20 +0000 http://wordpress.org/?v=2.6.3 By: Chris Carr http://calpolymbatrip.com/2007/china/how-to-travel-with-a-light-wallet/#comment-1797 Chris Carr Wed, 28 Mar 2007 20:54:31 +0000 http://calpolymbatrip.com/2007/china/how-to-travel-with-a-light-wallet/#comment-1797 Derrik (and all), Good comment and question. Everyone's situation will be different so it's hard to effectively counsel all 33 students on how to proceed. But, I can tell you what "I" would and plan to do ... Take $300 (US) in cash with me. Keep most of it in the safe in my hotel room; only carry $50 on me at any one time. There is no way I will spend this much in China. But I may be unique in that in/on my own time I won't go clubbing, I won't drink alcohol or spend $$$ on that, and, I don't let folks back home make me feel guilty about not buying them tons of gifts from China! I will buy my two kids and wife something basic to take back as a gift, but certainly nothing extravagant and/or that takes up room in a suitcase! I will also take $500 (US) in travelor's checks as a back-up. I will keep them in my hotel room safe at all times. I can't imagine using any of them, unless some emergency comes up. If/when the need arises, I will have access to plenty of ATMs and I could choose to use them as long as I don't mind paying the fee. I will also take one credit card with me, to be kept in my hotel room safe, as a back up safety valve if I need it. Let me know if you have other questions. Derrik (and all),

Good comment and question.

Everyone’s situation will be different so it’s hard to effectively counsel all 33 students on how to proceed.

But, I can tell you what “I” would and plan to do …

Take $300 (US) in cash with me. Keep most of it in the safe in my hotel room; only carry $50 on me at any one time. There is no way I will spend this much in China. But I may be unique in that in/on my own time I won’t go clubbing, I won’t drink alcohol or spend $$$ on that, and, I don’t let folks back home make me feel guilty about not buying them tons of gifts from China! I will buy my two kids and wife something basic to take back as a gift, but certainly nothing extravagant and/or that takes up room in a suitcase!

I will also take $500 (US) in travelor’s checks as a back-up. I will keep them in my hotel room safe at all times. I can’t imagine using any of them, unless some emergency comes up.

If/when the need arises, I will have access to plenty of ATMs and I could choose to use them as long as I don’t mind paying the fee.

I will also take one credit card with me, to be kept in my hotel room safe, as a back up safety valve if I need it.

Let me know if you have other questions.

]]> By: Derrik Fischer http://calpolymbatrip.com/2007/china/how-to-travel-with-a-light-wallet/#comment-1779 Derrik Fischer Fri, 23 Mar 2007 21:06:28 +0000 http://calpolymbatrip.com/2007/china/how-to-travel-with-a-light-wallet/#comment-1779 Chris, the frequently asked question that you are referring to implies that we should bring the amount of cash that we anticipate spending over the entire three weeks with us. However, in my experience with traveling in developing countries or even in developed countries (including Europe and U.S.), I have found that it is best to never have in your possession more than a few days worth of cash. Almost every time I have traveled outside this country, someone I am with has either lost or been robbed of a ridiculous amount of money or possessions (by ridiculous I mean $60-$150), I can’t even imagine how irate I would be if I lost 3-weeks worth of cash. With that said, do you still think it would be wise to take 3 weeks worth of cash with us on this trip, or will we have ample opportunity to restock our wallets every few days at a bank or ATM? Additionally, for those of you who have traveled to Thailand, Cambodia, or Vietnam: Are banks/ATMs easy to come by in these countries? Chris, the frequently asked question that you are referring to implies that we should bring the amount of cash that we anticipate spending over the entire three weeks with us. However, in my experience with traveling in developing countries or even in developed countries (including Europe and U.S.), I have found that it is best to never have in your possession more than a few days worth of cash. Almost every time I have traveled outside this country, someone I am with has either lost or been robbed of a ridiculous amount of money or possessions (by ridiculous I mean $60-$150), I can’t even imagine how irate I would be if I lost 3-weeks worth of cash. With that said, do you still think it would be wise to take 3 weeks worth of cash with us on this trip, or will we have ample opportunity to restock our wallets every few days at a bank or ATM?

Additionally, for those of you who have traveled to Thailand, Cambodia, or Vietnam: Are banks/ATMs easy to come by in these countries?

]]> By: Patrick McGuire http://calpolymbatrip.com/2007/china/how-to-travel-with-a-light-wallet/#comment-1731 Patrick McGuire Wed, 21 Mar 2007 07:15:52 +0000 http://calpolymbatrip.com/2007/china/how-to-travel-with-a-light-wallet/#comment-1731 Bank of America has an agreement with a few of the major banks in foreign countries to provide free ATM access to their customers. They call it their Global Alliance. So BofA customers can use Barclays ATMs in the UK, BNP Paribas ATMs in France, CCB ATMs in China, all without fees. It's a mutual agreement, so BofA won't charge CCB customers fees to use ATMs here also. As a side note, BofA is a part owner of CCB, so that would explain why they chose to ally with that bank as opposed to another. In using Barclays ATMs in the UK, it was VERY convenient because I wasn't charged any fees at all as a BofA customer. It's as if I were using a BofA ATM here at home! I pulled this off the Bank of America website: Travelling Internationally? Use your ATM card or Check Card within our Global ATM Alliance in the countries shown with no fees. Barclays (United Kingdom) BNP Paribas (France) China Construction Bank (China) Deutsche Bank (Germany) Satander Serfin (Mexico) Scotiabank (Canada) Westpac (Australia and New Zealand) Bank of America has an agreement with a few of the major banks in foreign countries to provide free ATM access to their customers. They call it their Global Alliance. So BofA customers can use Barclays ATMs in the UK, BNP Paribas ATMs in France, CCB ATMs in China, all without fees. It’s a mutual agreement, so BofA won’t charge CCB customers fees to use ATMs here also. As a side note, BofA is a part owner of CCB, so that would explain why they chose to ally with that bank as opposed to another. In using Barclays ATMs in the UK, it was VERY convenient because I wasn’t charged any fees at all as a BofA customer. It’s as if I were using a BofA ATM here at home! I pulled this off the Bank of America website:

Travelling Internationally?
Use your ATM card or Check Card within our Global ATM Alliance in the countries shown with no fees.

Barclays (United Kingdom)
BNP Paribas (France)
China Construction Bank (China)
Deutsche Bank (Germany)
Satander Serfin (Mexico)
Scotiabank (Canada)
Westpac (Australia and New Zealand)

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