Banking
	At present time, daily life payment is usually by cash in Shanghai, so expatriates will need local currency to transact daily business. Since more and more cities begin accepting credit cards, expatriates could have credit cards issued in China, such as VISA JBC, Mater Card and Great Wall VISA.     With current credit card, the main branches of banks in Shanghai will cash a foreign check using your credit line on the card as collateral. Depending on the type of card (regular, gold, etc.), you can cash up to US$10,000 per day. Fees are about three per cent.     And, it’s useful to remember that all banks follow the Bank of China rates, so it doesn’t matter where you change money, they’re all the same.     Local banks: Try to use a popular bank to open a foreign currency wire transfer account. Money sent from the United States takes approximately seven or ten full working days to arrive in your account in China. Costs vary for the transfer on the foreign end. You need to present your passport or residence card when making banking transactions.     We advise against expatriates change money on the street, not only because a lot of counterfeit currency likely exists, but also the transaction itself is illegal.