Sep 29, 2019  |   331 read

How to open a bank account in China? This is a big concern for expats who work and live in China. A Chinese bank account really can make your life easier in China as you can use it to open an Alipay account and use Wechat pay , which are the two main payment ways in China now. So here comes a guide for you to open a bank account in China.

Which Chinese Bank Should I Choose?

Actually there are plenty of Chinese banks available for your choice.And most of them have not so many differences from each other. So the key to choose a Chinese bank is choosing the most convenient one for you, which locates near to your living place or you see most often in your city. While there still have some national

How to open a Bank Account in China?

After choosing a bank, what you need to do is taking the needed documents and come to the information desk of bank in person ( Yes in person) and speak with the staff that you want to open a bank account.

The things you need to bring with yourself when coming to open an account:

1、A Valid Passport

2、A Chinese Phone Number. It needs a phone number to tie with your bank account in order to inform you when your bank account is tied with other platforms for payment. If this operation is made by yourself, it is just fine; while if this operation is made by others you should be cautious and if needed you can report this situation to bank employee.

3、Work Permit / Student ID.

4、Proof of residence. This one is also simple and you can provide the residence permit /receipt of your rending apartment/hotel; while some banks only require you to write your address.

5、An Initial Deposit. This fee is for paying debit card after you have opened an account. This is cheap and normally costs 10-20 RMB.

So after you take all of these things with you, you can go to the bank and go for the information desk , talk to the staff that you want to open an China bank account.

Then the staff will give you some application forms (normally in both English and Chinese) and waiting number. Do not worry; the staff will help you fill in these forms. What you need to do is following the guide of the staff. After filling the forms, wait for your number to be called and head these filled forms to the staff when it is your turn and again follow the guide of the staff to sign some documents and wait patiently you will be given a new UnionPay bank card with your bank number. Finished!

Use China Bank Account in China!

After you gain your first and new debit card in China, you can make use of it to fulfill your life in China.

1、Register Alipay and Wechat. As you may know, nowadays China is like a cashless society. Mobile payment is so popular in China and almost all of Chinese use their phone to purchase anything. So the first thing after you own your bank account is using it to register an Aplipay account and tie your wechat with this bank card and live your cashless life in China from now on. lol

2、Deposit and Withdraw Cash. Yes I have mentioned above that almost no one use cash now but if you really get a situation and need to use cash, here comes to the basic function of the bank card. You can use Chinese ATM to deposit and withdraw cash.

3、Shipping online. And from now you can use Taobao, the most popular online shipping platform in China. What you need to do is tie your bank account with your taobao account and begin shipping! Actually when you ship online, you also can tie your Taobao account with your Alipay account directly and do not need to do more to tie this card to the account.

Owning your bank account in China definitely will make your life easier and more enjoyable in China. So do not hesitate to go get your own bank account!

China bank account
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