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Opening a bank account [Copy link] 中文

Rank: 1

Post time 2006-12-18 08:28:30 |Display all floors
Hello there
I am coming to China (Guangzhou) in february, and I am planning to stay over 2/3 years. I would like to know how easy it is to open a bank account there, as some people said that I need a work visa to open one. Is it true? Initially I'll have a student visa so do you think it's going to be a problem?

And what bank do you recommend?
Thanks a lot.

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Post time 2006-12-19 22:59:00 |Display all floors
No, you don't need a working visa - I managed to open one on a tourist visa the first time I was over here (it's safer than keeping all your money in a hotel or carrying it with you), so you should have no problems. I've been happy with the Bank of China, so I guess that would be the one I would recommend; as far as I know they're all pretty similar though.

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Rank: 8Rank: 8

Post time 2006-12-20 14:50:37 |Display all floors

True

It's easy and you don't need a work visa.

But you will need some kind of address - you can use a friends address.

I have a few bank accounts, one branch of BOC took 35 minutes to open an account for me and another took 5 minutes.

Note: They charge you quite a high fee to move your money between your accounts in different branches of the same bank!
"We know it's weakness, but the weakness is so strong!"

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Post time 2007-1-16 12:00:05 |Display all floors

I did that by accident

I found it was really really easy to open a Chinese bank account the first time I visited China. I was with a group of friends and we all needed to change some money. They decided I had the best Chinese of the group (hah!) and so I was given all the money and I went into the bank to try to get it exchanged. Unfortunately, I was in an Agriculture bank or something (not Bank of China) so they couldn't exchange the money at all. But I didn't know that then. I went up to the teller and in my best (pitiful) Chinese I said "change money." Well either I said it wrong or not loud enough because she didn't understand what I said. But there I am holding this wad of American money and my passport so she decides she knows what I want. I must want to open a bank account! So she takes my money and my passport and I am relieved because I think she went to exchange the money. She is gone for several minutes and when she comes back she has a little red book that she wants me to sign. I am really confused by this point and look at the book carefully. It is a bank book, and it is all made out with my information from my passport, and the amount of money I had given her! I have just opened a bank account! Whoops! So I say "no, no, CHANGE MONEY" again in my best Chinese and this time the poor lady got it, they ran around and retrieved my money and passport and gave them back to me and rushed me out of the place, all the time telling me, "No, no, you can't change money here!!" So it was pretty funny. But I expect that if I can open a bank account completely by accident, you ought to be able to open one on purpose. Good luck!

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Post time 2007-1-16 12:07:56 |Display all floors
Originally posted by laughingcrow at 2006-12-18 08:28 AM
Hello there
I am coming to China (Guangzhou) in february, and I am planning to stay over 2/3 years. I would like to know how easy it is to open a bank account there, as some people said that I nee ...


I think with Bank of China (I'm not sure about other banks), you can only open a savings account and not a checking account.

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Rank: 8Rank: 8

Post time 2007-1-16 12:32:39 |Display all floors
I have some sort of mystery account that someone helped me open when I got here. I have a little red book and an ATM card. So far I have only taken money out of the ATM, and I'm not quite sure how to put money in. But I have no money to put in, so it's not a problem right now, I'll cross that bridge when I come to it. I'll probably look up "deposit" at home before I leave, then put it together with "wo yao....". That's my usual M.O.

I did have to show my passport (F visa) and fill in forms, so if you can't speak chinese, at  least learn how to ask if there's someone there who can speak english, or bring someone who speaks chinese. The forms I filled out were all only in chinese. I don't feel I could have done it without help. I couldn't read the form -  what would I write, and in which spaces?
I am not rich.  :L

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Post time 2007-1-16 22:27:08 |Display all floors
I had no problem opening an account in Bank of China in Guangzhou. I originally opened a standard account by simply handing over my passport and my initial deposit. The assistant behind the counter was very friendly and spoke good english. I then wanted to have an ATM card for my account and was told that i would need to wait seven days for it to arrive, or i could close my newly opened account which was 2 days old and reopen a new one and get the card immediately. This time is was a gentleman who assisted me, even completing part of the form with my existing data to speed up the process. Needless to say i left the bank with my new bank book and ATM card which worked.

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