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Can foreigners open bank accounts in China?
Jul 31, 2013 12:46
#41  
  • GUESTNOR
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  • Join Date: Jul 29, 2013
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Hi, We have a trading company focused on exporting Chinese products. We have business contacts in china and want to pay them in USD. We would like to open an account in any Bank in China to make financing
questions:
1) where do you think I should open a multi-currency account? For convenience of Telegraphic Transfers. 2)Are there any limitations for transfers to Bank of
China?
3) are there any limitations for transfers to foreign accounts outside of China?
4) can I access, transfer funds and order payments online while I am anywhere outside of China?

Thank you for your comments!

Aug 1, 2013 01:45
#42  
GUEST54667 You can open multi-currency accounts in many Chinese banks, such as ICBC and BOC. But I have heard that they have limits on personal international money transfer. I don't know if companies can transfer their money as they wish. Unfortunately, many banks don't have branches abroad (BOC does have branches abroad).

You may consult with some foreign invested banks in China and see if you can open an account there.
Aug 22, 2013 09:32
#43  
GUEST10252 hi, im a student and soon i will go over to China for my further study.

Before i depart, i would like to make sure few things about bank.

At my own country, there have Bank of China. Can i open an saving account at my own country (Bank of China) and use it while im at China? So i no need to bring a sum of amount while im going there. Can any one give me some advice on it?

Thank in advance
Aug 25, 2013 22:06
#44  
GUESTT5686 GUEST10252,

I suggest you apply one when you are in China. If you open an account in your country and use it in mainland China, I am afraid that you have to pay the service charge every time you withdraw money. It's inconvenient.
Oct 18, 2013 21:22
#45  
GUEST79157 Hi, someone mentioned that we need to show proof of residence. Does our passport name need to be reflected together with the china address (hotel / rented apartment)? The reason I'm asking is my girlfriend is staying in China and I stay with her when I visit, but there is no documentation proof that I stay there.

Also, do the banks send important correspondences to this address, or is it really just used once during account opening stage?
Oct 19, 2013 22:21
#46  
GUEST4478 GUEST79157,

As I read some requirements of some banks, they just require your passport. THe residence isn't mentioned. If you apply for an ordinary saving account, you won't worry about it. Usually, you won't receive any letters from the banks. If you apply for the credit card, you might leave the address to receive your billing every month. However, you can ask them to send the billing to your email address. It's more convenient.
Oct 20, 2013 12:02
#47  
GUEST79157 Thanks for the reply Guest 4478
Nov 4, 2013 04:22
#48  
GUEST18212 hi there
does any others bank than Bank OF China supports money transfert with foreign banks?
Nov 4, 2013 20:55
#49  
GUEST78903
Quote:

Originally Posted by GUEST18212

hi there
does any others bank than Bank OF China supports money transfert with foreign banks?


Well, why not open a foreign bank account like Citibank or HSBC? I think they support money transfer with foreign banks.
Dec 3, 2014 10:07
#50  
GUEST87214 Hello, can a foreigner who is on Tourist Visa open an account to banks in China?

I have tried going to Minsheng Bank near Nanjing Rd in Shanghai to open a bank account with Internet Banking but they dont allow me to open an account because I am a foreigner.

They said I must have a real home address in China and not a hotel address.
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