What do you need for opening a Chinese local bank account as an expat?
What stuff should you prepare for opening a Chinese local bank card as an expat?
Having a Chinese bank card definitely makes living in China more convenient, especially because it is the main gateway to being able to utilize all of the functions of China's most popular apps. For instance, to enjoy the full scale of convenience from WeChat Pay or Alipay, users must have a Chinese bank card.
Four of China's major bank brands
For those who are going to take up long-term residence in China, the following papers or personal credentials are required to open a bank account:
1. Passport with Work Visa or Student Visa, original copy (mandatory)
2. Signed apartment rental agreement (mandatory)
3. A China mobile phone number, registered with a real name (mandatory) (see How to get a local mobile phone card?)
4. Local Employment Contract (this may vary in the regulations of different banks)
5. Work Permit (this may vary in the regulations of different banks)
6. A Valid Tax ID Number, either one from your home country or one from China (this may vary in the regulations of different banks)
What we can see from the list is a stable employment status and valid personal credentials are fundamental requirements needed to open a local bank account. Additional papers or certificates may be required at some banks, as there are slight differences in the regulation rules between different banks. We recommend making a phone call to the specific bank you want to open an account at before visiting to save you time and hassle.
Those required documents won't be a problem for long-term residents who have already found jobs and have obtained their working permits, but for short-term visitors and tourists, opening a bank account can be mission impossible. However, there are potential solutions for short-term visitors to make payments with a valid passport and international credit card once they have an AliPay account. To find out more about how, see How to activate your digital quick pay with international cards via AliPay?
For U.S. citizens, the ECARD could be a new solution to paying for things in China, if you want to give it a shot, follow Josh Summers', founder of TravelChinaCheaper.com, instructions at Paying for Things in China? Here’s a New Solution! (U.S.-only).
Moreover, if you don't want to bother yourself setting up the apps on your phone, the ATM machines spread throughout the city make it possible to make withdrawals with a Visa Card or MasterCard. Be aware that not all of the ATMs will accept Visa Card or MasterCard for cash withdrawals, but don't worry, if one doesn't work, just try another. There are plenty of ATM machines located in malls and metro stations. Remember to check with your card issuer before traveling to make sure your card has been activated for cash withdrawals abroad. This can save you time and trouble for having to call your bank if they put a hold on your account due to unusual activity.
So, there you have it! OohMyGuide's tips on how to open a bank account in China as a foreigner. With a bit of preparation, you'll be on your way to making payments easily and conveniently in China.
