"Chinese or off-shore bank account?"

Hi,

Really very easy to open a Chinese bank account (at least, in Xaimen it is, and presume Beijing is the same).

Just go along with your passport to the branch of any major bank, such as Bank of China, Agricultural Bank of China, etc, etc, and a personal current account can be opened straight away (takes about half an hour of form-filling).   You'll be issued with a debit card that can be used in any ATM, or for purchases in most places, together with a security token for on-line banking. 

If you are transferring foreign currency to the account for conversion to RMB, there is a USD 50,000 limit per annum per person.

Hope that helps, and good luck in Beijing.

Thanks!  Is it necessary to have a chinese bank account or can I get along alright with a US one?

It kind of depends on if you will have to pay any living expenses (utility bills etc) in your name with a Chinese card.  For 3 months I wouldn't bother with it if you don't have to.  I have a U.S. Citibank account and my debit card works fine here, plus I don't have to pay fees.  The downside is you can't use your card at the grocery store etc, but just pay cash.

Hello SkydivingGirl!

I may recommend you this article > Open a bank account in China, who knows!

It may help.

Regards,
Harmonie.

Would definitely recommend getting a Chinese bank account if only to save some money- you'll get charged by the Chinese banks everytime you withdraw with a foreign card. Best to have a foreign credit card though in case of emergencies. Also good to have a foreign savings account because they usually have better interest rates compared to the Chinese banks in my experience.

Hi
I lived in China 2 years and never needed to open a bank account. I used my atm card at a reputable atm when ever I needed to withdraw $$, whiuch was rare. I just notified my US bank that I would be abroad and never had a problem.

here a chinese bank card is very convinient , but if you stay only three month, maybe you do not need to bother to apply one, you can take some cash

Hi, I have kind of the same question. My case though is very special. I'm from Morocco, and here you have to ask for a special card in order to pay online (foreign websites) or withdraw cash from ATM in other countries. I don't have time to apply for that, so I'll be traveling with cash in my pocket.

I'm spending some time in China, so I think I'd need to open a bank account there in order not to keep cash on me, and be able to purchase things online...

Now I read it is quite easy to open a bank account and be able to withdraw from ATM and pay in shops... but would I be able to use it online as well?

Hello Soulbend.

Please note that this is an old thread. Feel free to start a new topic on the China forum for better replies.

Thanks

Karen

Hi,
If you want to pay online,you should apply for a debit card,and open an online bank the same time.That's easy.
Hope it helps.
Berry

There are two different types of cards, one will work online internationally, and one won't.  The key issue with domestic bank accounts is the difficulty with moving funds out of the country.  There is the limit on the amount of currency you are allowed to convert, and the limitation on both conversion and wiring from a Chinese bank unless you can prove you paid taxes.

You can spend hours and hours in Chinese banks trying to get that straightened out.

Nothing complecated to open Chinese account, just open a ordinary one with card, than put all you dollars into the account,and make sure that every month there is at least 300rmb in your account, when you leave, cancle this card, that's all.

I tried that, but the amounts you can withdraw are small and the fees horrendous.

FOr 3 months you can get away with just using your American account.

- Typically you can withdraw about RMB20k cash per day which should cover any big expense like rent.

- You can use your credit card/bank card in high end hotels and restaurants.

- For daily living, just carry cash.  In fact you may consider keeping all your IDs and bank cards home or in the hotel's safe deposit box.  RMB1-2k of cash is plenty, and no need to risk losing your cards.

I have a bank account in Hong Kong and they gave me a Unionpay card for use in the mainland. The card is billed in RMB but since it is in HK there is no restrictions/capital controls. Best of both world really...

Yes u can.
But it will be charged for extra fees.

WARNING!  Because of the new Patriot Act in the USA, you cannot open any bank account in the USA while living abroad.  You need to physically be in the USA to open a bank account.  Something to do with terrorism and moving money. 

Before you leave the USA, open a joint account with someone at some US bank because they won't let you add features to an existing account without physically going down to a bank branch location. 

I know because I tried it.  No one would let me modify an existing account or open a new one.  Luckily, I had a joint account with my mother who could do it while I was in China.  My Chinese employer required that I had a particular US bank account.  It was strange. 

On a side note, Are you a teacher?  because I have a bunch of free material that I've collected over the last 5 years.  Luckily for you, I published them on the internet.  It's free stuff.  You can google "Dangerously Easy ESL".