Money & Credit Card in Tibet

ATMs
Several ATMs in Lhasa and Shigatse accept foreign cards. The Bank of
China accepts Visa, MasterCard, Diners Club, American Express and
Plus. The Agricultural Bank accepts Visa, Plus and Electron. Check
before trying your card as many ATMs can only be used by domestic
account holders.
The maximum amount you can withdraw per transaction is Y2000 with
the Bank of China and Y1000 with the Agricultural Bank. Cards are
occasionally eaten, so try to make your transaction during bank hours.
Credit Cards
You’ll get very few opportunities to splurge on the plastic in Tibet, unless
you spend a few nights in a top-end hotel. Most local tours, train tickets
and even flights out of Lhasa still can’t be paid for using a credit card.
The few shops that do accept credit cards often charge a 4%
surcharge.
The Lhasa central branch of the Bank of China is the only place in Tibet
that provides credit card advances. A 3% commission is deducted.
Currency
The Chinese currency is known as Renminbi (RMB) or ‘people’s
money’. The basic unit of this currency is the yuan, and is designated in
this book by a ‘Y’. In spoken Chinese, the word kuai is almost always
substituted for the yuan. Ten jiao (commonly known as mao) make up
one yuan.
RMB comes in paper notes in denominations of one, two, five, 10, 20,
50 and 100 yuan; and one, two and five jiao. Coins are in
denominations of one yuan and five jiao. But please note that, coins are
not acceptable in Tibet even for tipping.
China has a problem with counterfeit notes. Very few Tibetans or
Chinese will accept a Y100 or Y50 note without first subjecting it to
intense scrutiny, and many will not accept old, tattered notes. Check the
watermark when receiving any Y100 note.
Exchanging Money
In Tibet, the only place to change foreign currency and travellers
cheques is the Bank of China. Top-end hotels in Lhasa have exchange
services but only for guests. Outside of Lhasa, the only other locations
to change money are in Shigatse, Zhangmu, Purang (cash only) and
Ali, and at the airport on arrival. If you are travelling upcountry, try to get
your cash in small denominations: Y100 and Y50 bills are sometimes
difficult to get rid of in rural Tibet.

info comes from Travel to Tibet