TIP丨How to Open a Chinese Bank Account

How to Open a Chinese Bank Account

As payment methods such as Alipay and WeChat payment make our life more convenient, we should also pay attention that a bank account is required for consumption via these methods. 

• Can foreigners apply for bank cards in China? 

• How to apply for a bank card? 

• What information do I need to prepare?

• What needs attention? 

Here is some essential information for opening a Chinese bank account.

Few things are required:

1. A valid passport: The passport is within the validity period
   

2. Work certificate: The work certificate must contain information such as the name and position of the foreigner

3. Copy of foreigner's residence permit/copy of foreigner's permanent residence permit: The validity period should be more than 1 year, and the expiration date should be more than 1 month.

Let’s take the procedures for an ICBC bank card as an example:

1. Application conditions: Foreigners can hold a valid passport to open a personal account in a domestic bank, and there is no limit on the amount.

2. Required materials: After bringing all the necessary information for opening an account, you only need to further fill in a personal information registration form(picture attached).

3. Card application fee: the card application fee is 5 RMB, and the annual fee is 10 RMB/year.

4. Please follow the instruction of the front desk.

Additional suggestion: If you want to handle bank cards for foreigners, choosing China's four major banks (the Industrial & Commercial Bank of China, the China Construction Bank, the Agricultural Bank of China, and the Bank of China) is more secure and authoritative. And before you go, it is best to call the customer service staff of the local bank and be fully prepared so that you will not waste energy and time.

CONTRIBUTOR

Chloe

(AnyHelper Volunteer)

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