Travelex Offers Deals, Advice for Summer Sports Travelers

In preparation for the estimated 1.5 million sports enthusiasts expected to travel to the Beijing games next month, Travelex is offering a currency package and advice to travelers to help them navigate the often-tricky process of obtaining the Chinese Yuan, also known as Renminbi (literally translated as ‘the people’s currency’).

“While currency exchange is available at banks and hotels, visitors should beware street changers, who may try to entice them with better rates,” said Yang Liu, Beijing retail manager. “Not only can travelers be cheated by these vendors or receive counterfeit bills, Chinese law forbids private money-changing.”

The Chinese government closely regulates matters of currency, and due to these regulations, currency exchange can be more difficult than travelers may be accustomed to in other countries. And while the number of ATMs and acceptance of foreign credit cards are growing, cash is necessary for many purchases in China, including transportation.

The Bank of China, other designated banks, and many mid- to upscale hotels, restaurants and stores are permitted to exchange money. To change Yuan back to their home currencies, visitors must show a receipt. Consequently, Travelex recommends exchanging several days’ worth of cash prior to entering China or upon arrival at the airport, and saving all receipts.

At US and Canadian airport branches, Travelex is offering a special Summer Games Value Pack for Beijing-bound travelers exchanging $1,500 or more. The Value Pack includes:

• $0 service charge
• Currency return guarantee
• Preferred exchange rate
• Beijing traveler’s tip sheet

About Travelex:

Travelex is the world's foreign exchange and business payments specialist. The group is also one of the world's leading providers of outsourced travel money to banks, travel agencies and other financial institutions. The group serves businesses and individual travelers through nearly 700 banks, stores, malls and airports in four regions: the Americas; United Kingdom; Europe, Middle East and Africa; and Asia Pacific.