ATM/Bank  Cards
    Automatic teller machines are  available in China. In some cases, they will work with foreign-issued bank debit  cards (especially those on the Cirrus or Plus networks) and usually will only be  able to access a checking account for funds. Leave some checking account deposit  slips for your parents in case they need to add money to your account. Please be  sure to have some sources of funds other than ATM available as  well.
    Credit  Cards
    Five international credit cards,  that is, Master card, Visa card, Diners card, American express card and JCB card  are accepted by major hotels and restaurants, and large department stores in  China, but few other businesses. Most businesses operate on a cash-only  basis.
    Traveler¡¯s  Check
    Bank  of China can cash traveler¡¯s checks of international commercial banks and  traveler¡¯s checks companies of USA, UK, Canada, Australia, Japan, France,  Germany, Switzerland and Hong Kong.
    However, traveler¡¯s check is among the  most useless things in other businesses in China.
    Local Bank  Accounts
    You can open a local foreign  currency/RMB account at the Bank of China (with traveler¡¯s checks) and can  withdraw funds using a passbook and/or an ATM card for the account issued in  Hangzhou. When traveling, use the ATM card to withdraw funds. You should always  carry (safely!) sufficient money in cash to cover emergencies.
    Changing  Money
    You will find several  establishments in China where money-changing services are offered. Banks are the  best places, offering the official rate and charging a reasonable commission.  There also money-changing services at major hotels and international airports. A  passport is required to change money. Bring a pocket calculator to check the  accuracy of your receipt when changing money. When changing money at an ATM with  credit or bank cards, it is not always possible to check the rate you are being  offered or to establish if there is a commission fee accessed (some may be  higher or lower). Check your receipt carefully and avoid that machine in the  future if rates are excessive. It is a good idea to familiarize yourself with  the current exchange rates before you go abroad.
    Be sure to save  your receipts for all foreign currencies exchanged into RMB. Government  regulations allow only 50% of the original amount to be changed back into  foreign currencies and require proof of the initial  exchange.  (For example, if you change $100 to RMB you can only change back half of the RMB  to dollars, $50 worth, and must provide the original exchange receipt). The RMB  to dollar exchange must be made at the main branch of the Bank of China in the  city. The main branch in Hangzhou is located on Feng Qi Lu.
    Do not change money  outside of the official exchange services. Unofficial exchanges usually result  in travelers losing their money. The practice is illegal and you could also face  charges of breaking foreign exchange laws.
    Safety with  Money
    Observe safety precautions with  money. Do not keep large sums of cash in your dorm room. Buy a travelers¡¯ money  belt or neck wallet and beware of pickpockets in crowds and on public  transportation.
    Nearest Bank  Location
    Bank of China: Qiu Shi Road,  outside of "Xin Qiao Men" Gate of Yuquan Campus, on the right side of the  entrance of Lu Yuan (Green Garden) Apartment
    Working Hours: 9am ~  5pm
    Note: The service charge is 3% of the transaction amount, al little bit  higher than that of the ATM transactions
    China Industrial and  Commercial Bank: Yugu Road, outside of "Xin Qiao Men" Gate of Yuquan Campus, on  the Ground Floor of Lu Yuan (Green Garden) Apartment
    Working hours:  9am~5pm
    China Agricultural  Bank: Zheda Road-Dong Shan Nong Intersection
    Working hours:  9am~5pm