Yes - Customer No. These days you can also send WU using their app, and send directly to the bank account (again of a Chinese resident anyway).It should be, but it’s honestly up to each individual bank. I have been living in China now since 2016, and I really like it and am happy here!I have already OPENED an account with bank of china.
is this true? That helps.Once you’ve picked the bank and put your passport and cash in your pocket, set aside an hour or two and head over to the nearest bank branch.Hopefully that answered most of your questions about how to open a bank account in China.
Do you know if I can do so using my Hong Kong address? As well as a charge for processing the transaction, you might find that your bank’s profit is rolled into an exchange rate which is far from favourable.China is as diverse as it is expansive, and can prove a challenge for expats looking to settle. Please try again.Hi! After making 30 minutes worth of phone calls to their head branch, they rejected my application saying i need to have a company registered in China, to send a letter of recommendation and to say i am working in China.
For me, it is all in CAPS.. Changing my name in all caps worked.Ha! It can be a good option if you have to pay personal expenses monthly, such as for gym memberships. With more than 100 multilingual professionals based in Shanghai, Beijing, Suzhou, Guangzhou and Shenzhen, we are able to offer the very best local knowledge to our international clients and provide them with comprehensive introductions to the several local and international banking institutions we’ve had the pleasure of cooperating with in the last decade.Guide - 13 April 2020Global banking corporations with a presence in China and pre-existent relationships with your business in other jurisdictions might even make it possible to simply use previous signatory documents from the entity’s UBO or ask signatories and investors to come to the closest branch outside of China.This site uses cookies to offer you a better browsing experience.
Has anyone had this problem and managed to solve it?I’m not sure since I’m not an HK resident.
But as of today i can no longer receive money because wechat says i have to have a mainline china bank card loaded. However, Most Chinese banks let you take out money with these cards.All of the main Chinese banks have webpages and applications for online banking. It can be a good option if you have to pay personal expenses monthly, such as for gym memberships.Learn Chinese, Travel or Work in ChinaAs mentioned, go to the branch where you opened the account as the procedure will be more swift.Opening a bank account in China used to be an easy task, but things have changed over the years. HSBC offer the same service in some countries, but again, you’ll need to visit a branch to complete your application.China's latest national census shows at least 600,000 expats living there.
Later on i discovered you really do not need cash so i put the remaining cash i have into the account. In China, people would rather tell you “no” instead of “I don’t know…let me check”.
It’s a pain, trust me.Thanks for the info, Gedi! I do not have my debit card online payment enabled and it is single currency rmb. You have to go through the process of proving that you have legally paid all the taxes on the money. With the right documents, I was able to open an account in less than an hour, but I’ve known some people who have spent days trying to get things sorted out.I left and went to the bank next door. Also, not all banks are authorized to accept international wire transfer (generally only the big state owned banks like BOC, and ICBC)Best to use western union. I always have to wait for some time to see a clerk for assistance, not that the banks are full of people, but the staffing seems low most of the time. YAY!As simple as I just made opening a bank account in China sound, as with all things, the devil is in the details.I would like to add, initially Alipay rejected my bank card. Currently, many businesses also allow payment with mobile applications such as WeChat or Alipay (for which you will need a Chinese bank account).But, it can be worth giving it a try, but be prepared that a great majority of the banks will reject your application. In terms of sound markers like the diaeresis and accent marks, this is not something you have to worry about, as they are just going to ignore them.If you have saved money in China and you want to take it out of the country, you will first have to exchange it for an international currency. Picking the right branch can make the difference between getting an account or not.I am unable to transfer money into a bank of China account. As China’s banking system continues to liberalize, foreign investors have more flexibility over the management of funds.