Opening a bank account in China
How can foreigners open a Bank Account in China？
- Must possess a valid passport.
- A work permit is usually required. We say usually because there are still some banks that can help to open a bank account with a different visa, but we suggest checking directly with the bank for more information.
- Copy of residence permit.
Can a foreigner open bank account in China?
If you’re looking for a more personal bank account in China, you must be a resident of the Country. Non-resident foreigners looking to open a Chinese bank account need to do so through the context of overseas business or currency exchange.
How much do you need to open a bank account in China?
Bank anytime, anywhere with the new China Bank EMV ATM Card! Open an account at any branch for only P2,000 initial deposit.
How can I open a bank account in Chinese bank?
To open a basic bank account in China you need the following:
- Valid passport.
- Proof of residence (usually only for correspondence purposes, so your bank may accept a temporary address or email instead)
- An initial opening deposit.
- Employment pass, student pass or work permit (Required by some banks)
Is it legal to have a bank account in China?
Hong Kong and overseas banks accounts are not subject to domestic regulations. Certificates required – A non-resident account requires showing a Mainland identification card. A passport or exit-entry permit is required for all other types of bank accounts in China for foreigners.
Which bank is the best for foreigners in China?
After some research, I found the top banks for foreigners (in terms of online banking and English services) to be: China Merchants Bank (CMB), ICBC, Bank of China (BoC), and China Construction Bank (CCB).
Can I open Bank of China account online?
To be eligible to apply for mobile account opening via BOCHK Mobile app, you must: A new-to-bank customer, or not holding any BOCHK savings or current account in single account / joint account (holding BoC Pay Payment Account or BOC Credit Card is eligible);
Can I open a bank account as a tourist?
A foreigner can open a bank account in the US. Most small banks only allow US citizens and permanent residents to open up bank accounts. These banks require a social security number, which non-citizens don’t have.
How much is the interest in China bank savings account?
3%
Gross interest rate per annum is 3%. All time deposit applications shall be subject to the standard policies and procedures of China Bank Savings.
How do I open an offshore bank account in China?
One of the options for opening an ‘offshore’ bank account in China is opening a non-resident account (NRA). In terms of who is eligible for an NRA account, applicants must have office premises in China and be established as a foreign company (WFOE).
Can Americans bank in China?
Many banks offer free checking accounts to their customers. Get a valid passport and visa. Some banks allow you to transfer money from America to their banks in China. In order to open a bank account in China, you will need a valid passport and visa.
How do I deposit money into China?
Even if you don’t have a bank account in China, you can still enter a bank branch for your recipient’s account and deposit cash using their account number. There is usually no charge for account-to-account transfers if both parties use the same bank in the same city, and a small charge otherwise.
Which bank to open in China?
There are plenty of other good China banks including, but not limited to: ICBC 中国工商银行 (Industrial and Commercial Bank of China) ABC 中国农业银行 (Agricultural Bank of China) China Construction Bank 中国建设银行
How much money can I withdraw from Bank of China?
The Circular, effective January 1, 2018, provides that an individual may withdraw no more than RMB100,000 (about US$15,530) annually from outside of mainland China. Individuals exceeding the quota will be banned from withdrawing cash for the rest of the year as well as for the following year.
Can I withdraw money in China?
While you are in China, you can use your debit card to withdraw money from a 24-hour ATM. Big cities and smaller towns all have 24-hour ATMs. However, many rural areas, such as parts of Tibet, don’t have many ATMs. English interfaces are available for use on all ATMs.
Can I use my ICBC debit card overseas?
Use the card on POS terminals: ICBC (USA) does not charge foreign transaction fees on using POS terminals outside the U.S. Use the card on internet: ICBC (USA) does not charge foreign transaction fee for making payments or purchases with non-U.S. based internet merchants.
Can I use my Chinese bank card in the UK?
You can use your card to pay for goods and services in the UK and abroad wherever you see the VISA sign. Your card enables you to make payments online and over the telephone. You may be asked for the CVV number, which is the last 3 digits on the back of the card and your billing address.
Is UnionPay accepted in UK?
In UK, UnionPay cards are accepted at the famous department stores, jewelry and watch stores, brand boutiques, hotels, airport duty-free shops and most merchants in the Bicester Village designer outlet, over 40% of ATMs accept UnionPay cards.
How do I get a UnionPay card in USA?
To apply for a UnionPay Prepaid card, you need to provide the following: Passport. Proof of Address. Proof of Legal Existence.
These documents need to show the following information:
- Full Name.
- Photograph.
- Unique Number.
- Date and Place of Birth.
- Your Signature.
- Nationality.
Which bank has UnionPay?
UOB : UnionPay Platinum Card | Credit Cards | UOB Singapore.
Which banks use UnionPay?
UnionPay is the primary network of these Chinese banks:
- Agricultural Bank of China.
- Bank of China (including its Hong Kong-based subsidiaries Nanyang Commercial Bank and BOC Hong Kong)
- Bank of Communications (Credit cards co-issued with HSBC)
- Bank of Beijing.
- Bank of Ningbo.
- Bank of Shanghai.
- China CITIC Bank.