Can Foreigners Open a Bank Account in China? Bounty for best answer.

[buffett]

so here is the case, i need a bank account to withdraw RMB from btcchina.com

let say i fly to china tomorrow with tourist visa, can i open a bank account with ICBC/BoC/ABC/CCB/Merchant bank. I don't speak mandarin and I've never been to china before.

If so, which bank is the best in term of:

1. english support
2. atm card with unionpay feature
3. internet banking

thanks!

0.02 BTC or 10$ USD for best answer!

[1715516681]

1715516681

[simbo]

Yes. I opened an account in China with my passport. As for english speaking bank staffs, that depends on which branches you go to, most small branch staffs can't speak English or very broken English. Go Beijing or Shanghai.



Bitcoin: 12ZiiXfSz9Z6zJdCkRWmZTBbxJhveNhqsf

[CrypticBits]

Hey,

Yes, you can. It's not even that hard really! Make sure to go to one of the banks with a better standing, the chances of finding someone who speaks decent English is much higher there! Be reminded your deposits wont be FDIC insured but that doesn't really matter.

Some tips:
Don't look at interest rates, they're all extremely low and not worth it.
Shanghai > Beijng > Hong Kong for English speaking people.
Make sure to bring your tourist visa to the bank, as well as your passport (duh)
If they ask you for fees to open an account, negotiate. You're not obliged to pay them and they're not forced to ask them.
To make sure everything is okay, deposit some cash in hand there first before wiring money.

The best banks for foreigners (best customer support etc) are ICBC and Merchants Bank.

Good luck!

My btc address is in my signature. thanks

[Multivitaminz]

Yes you can, the only actual needed document for a basic account is your passport. You need neither proof of address nor proof of income. When you enter the bank, head for an information desk and express the desire to open an account. They will give you a bilingual form. But it is better for you to ask the information desk staff to fill it out for you. Oh and some banks may charge you for the cost of the bank card, approximately 15 yuan or so.

BTC Address: 1AonbwkzenMnSikNq2LL2iumYDpdESLYUK

[buffett]

thanks for answers!!

0.02 sent to CrypticBits
0.01 sent to Multivitaminz

one more question, when filling for address in registration form, what should i fill? the hotel address? fake address? or just my real address (in my country). it would be great if someone can call the bank customer support to confirm, prefered ICBC.

[2double0]

Always provide authentic information, so your real address in your country!

16psKoDC1F4ovzRVVaQQHEEPXBg9rdNrVn

[JackMehoff]

Hi Buffett

The best is to look for the Bank of China - and together with yr passport and local rmb currency to open a savings account - and u will get your ATM card instantly, and the savings book. However though, there is one thing - which is that the bank would require a local address (which u can actually use the hotel address u r in - just the road address minus the name of the hotel). Its best that u use Bank of China as it have its branches all over China - and even some overseas branches too and is the leading Bank.

[buffett]

what is the minimum opening deposit in average?

for city, what about Guangzhou?

[cambda]

Always provide authentic information, so your real address in your country!

This, you might be required to send your ID scan or utility bill anytime and your bank account froozed in meantime. If you fill fake address, you might loose money

[JackMehoff]

Bank of China Guangzhou Zhujiang Sub-branch, 020-81542003, Development Center, No. 3, Linjiang Avenue, Guangzhou City

The minimum deposit amount of RMB current deposit is RMB1.00, and the minimum deposit amount of foreign currency current deposit is not less the value of foreign current that is equivalent to RMB20.00.

Hope this helps.

16VnUFsxoV2uaTXLmXzQWdrrY1TEsytaor

[sepehr]

Thanks for useful comments!

some questions still in my mind:

1-Do they provide internet access to the account?
2-Do I need to have token device for internet banking? which banks require token device, and which bank is not?
3-Can I make TT wire to Banks outside China?
4-Which bank is better? Bank of China? ICBC? Merchants Bank? Different narratives!
5-Group Tourist visa is ok or you should have just Single Visa?

Also buffet, if you can share your experience it's highly appreciated!

Thanks!
Sepehr

[sepehr]

No answer yet!

0.01 BTC to best answer.

 

[ni|]

Thanks for useful comments!

some questions still in my mind:

1-Do they provide internet access to the account?
2-Do I need to have token device for internet banking? which banks require token device, and which bank is not?
3-Can I make TT wire to Banks outside China?
4-Which bank is better? Bank of China? ICBC? Merchants Bank? Different narratives!
5-Group Tourist visa is ok or you should have just Single Visa?

Also buffet, if you can share your experience it's highly appreciated!

Thanks!
Sepehr

1. yes they do, is optional
2. token device is with hsbc, for boc , you have the choice to send verification msg to your phone number
3. yes you can , with a daily limit which they set according to account type.
4. i would recommend bank of china and hsbc
5. single visa is preferred , how ever they are not as strict as other countries.

cheers

you could pm me for more info , thanks    19HN8xAMo6yrJhWhx6YxJ822pEo3p8wBKH

[sepehr]

Ni Hao! Ni!

Thanks for your good answers!

0.01 BTC -> Ni

[ni|]

Ni Hao! Ni!

Thanks for your good answers!

0.01 BTC -> Ni

Thanks mate appreciate it, you can pm me for more information

[assetcoin]

Trip to China is a long and costly one - you better save it.

You can open China bank account in New York.

(optional) 1. Incorporate a company (~$500 and I can help)
2. Go to NY (or try online) and open a (corporate) bank account at Bank of China http://www.bocusa.com/

 Chinatown Branch

Bank of China New York Chinatown Branch provides full banking services to personal and business customers. We offer various kinds of deposit accounts denominated in US Dollar, Chinese Yuan (RMB) and Australian Dollar. We also provide Bank Cards, Remittance, Foreign Currency Exchange, Online Banking service, and Commercial Mortgage Loan service to meet your needs. Our deposit accounts are insured by FDIC up to $250,000 per depositor.

42 East Broadway (close to Market Street)
New York, NY 10002
Tel: 212-925-2355
Fax: 212-431-6178

Business hours
Mon - Fri: 8:30 am - 4:00 pm
Sat, Sun: 10:00 am - 3:00 pm

By subway: take F train to East Broadway station, B, D to Grand Street Station, or N, R, Q, J, Z or 6 train to Canal Street station.




17RJKY9DcMRSpB7PW3RdeBYgf3k9uapnzG


Thanks!



BTW I use to open bank accounts online usabankllc.com
 

[Simon8x]

Trip to China is a long and costly one - you better save it.

You can open China bank account in New York.

(optional) 1. Incorporate a company (~$500 and I can help)
2. Go to NY (or try online) and open a (corporate) bank account at Bank of China http://www.bocusa.com/

 Chinatown Branch

Bank of China New York Chinatown Branch provides full banking services to personal and business customers. We offer various kinds of deposit accounts denominated in US Dollar, Chinese Yuan (RMB) and Australian Dollar. We also provide Bank Cards, Remittance, Foreign Currency Exchange, Online Banking service, and Commercial Mortgage Loan service to meet your needs. Our deposit accounts are insured by FDIC up to $250,000 per depositor.

42 East Broadway (close to Market Street)
New York, NY 10002
Tel: 212-925-2355
Fax: 212-431-6178

Business hours
Mon - Fri: 8:30 am - 4:00 pm
Sat, Sun: 10:00 am - 3:00 pm

By subway: take F train to East Broadway station, B, D to Grand Street Station, or N, R, Q, J, Z or 6 train to Canal Street station.




17RJKY9DcMRSpB7PW3RdeBYgf3k9uapnzG


Thanks!



BTW I use to open bank accounts online usabankllc.com
 

I don't think the bounty is still available as this is a 4-month old thread and all OP's questions have been answered already.

[assetcoin]

Well I hope my post is useful to someone!

[activebiz]

U should try hsbcchina, https://www.hsbc.com.cn/1/2/commercial-banking/international-banking/account

[Cryptogirl82]

Yes of course you can. However I would not use a chinese bank. I would use a swiss bank that operates in china aswell.
I would open an account with UBS. The biggest Swiss bank. You can even open an account online:

http://www.ubs.com/cn/en.html

Thank me later and you can send the donation to this adress: 16445WYWDfL874EMUFa1MxywxbswTSq5cZ

Thanks
xxx