Money & Cost in China - Bank Acount / Credit Card / Traveler's Cheque

Bank Account

Bank of China
Bank of China
 Can foreigners open a bank account in China? If yes, how does one open one?

 Answer: Foreigners can open bank accounts in most banks in China.
The process is fairly straight forward. A passport is required. In addition, different banks may require different amounts of minimum deposits when opening an account, which can be 100 CNY to 300 CNY. When you successfully open an account, you will get a bank card, or a passbook for time deposit. You can use the card to withdraw money from the ATMs.

 There are many kinds of deposit, which one should I choose?

 Answer: Generally speaking, there are two ways: Demand Deposit and Time Deposit.
Demand Deposit: There are no limits on the amount and time of your deposit as well as withdrawal. A bank card is issued after opening an account. You can deposit or withdraw money in the Bank outlets or the ATM.
Time Deposit: There is a settled time and you can only withdraw your money on the date of maturity. The interest rate of time deposit is higher than demand deposit. There is no bank card for this kind of deposit.

 What are the major banks in China which are friendly to foreigners?
 Answer: Here we list the service number of some major banks. If you have any problem, you can call for help!
Bank of China: 95566
Agriculture Bank of China: 95599
Industrial and Commercial Bank of China: 95588
China Merchants Bank: 95555

Usually, in the big branches of these banks, English service is available.

Agricultural Bank of China
Agricultural Bank
China Construction Bank
China Construction Bank

Credit Card and ATM

 What kind of credit card can I use in China?

 Answer: Currently there are seven main foreign credit cards available in China, including Visa, MasterCard, American Express, Diners Club, JCB, Federal and Million. Credit cards can be used for withdrawing money, shopping and other transactions in most major cities of the country, but generally not accepted in rural areas.

ATM for Worldwide Money
ATM for Worldwide Money
ATM of Bank of Beijing
ATM of Bank of Beijing
ATM of Standard Chartered
ATM of Standard Chartered

 Do all the ATMs in China accept my credit card?

 Answer: If the symbols and logos of your credit card are shown on the ATMs, then it can be used to withdraw money. It should be noted that different banks have different limits on the sum that can be withdrawn each time from the ATM, with most permitting a withdrawal of 20,000 Yuan in any day.

 Can I apply for a Chinese credit card?

 Answer: Yes, you can, if you work in China or have steady income. But it is impossible for travelers.

 I heard that the PIN number of Chinese card is six-digit, but mine is four-digit. If I withdraw money from the ATMs, can they recognize my card?

 Answer: The PIN number of Chinese card is six-digit. You can put two zero before you four-digit PIN to see if it works. Some of the banks also accept the four-digit PIN. However, it is advised to check with your bank first. Keep in mind not to make more than three incorrect number attempts, or your card will be locked.

 My card was eaten by the ATM, how can I take it back?

 Answer: Most probably, it occurs when you press the wrong PIN more than three times. Your card is eaten; it is locked by the bank simultaneously. Go to the service counter with your passport. With the right PIN number, you can take back your card.

Traveler's Cheque/Check

 What is a traveler's check?

 Answer: The traveler's check, which is issued by international commercial banks or authorized tour agencies, offers much more security and convenience while traveling. Similar to cash, the check also has different kinds of par values, and is issued in various currencies. At present, the checks issued by American Express, VISA, Thomas Cook, and others are recognized worldwide and are available in most large-scale emporiums, star-rated hotels or can be exchanged in more than 800 banks around the world, without any limitation on the period of validity.

 Are traveler's checks accepted in China?

 Answer: They are accepted in the major banks in the country, where you can buy and cash them. But only some high-end hotels and large-scale emporiums accept traveler’s check. Many visitors now prefer to use credit cards, which are more convenient and widely used.

 More about Money and Cost in China:
 Chinese Currency & Money Exchange
 Cost of Traveling in China

- Last modified on Apr. 26, 2021 -
Questions & Answers on China Bank Acount, Credit Card, Traveler\s Cheque
Asked by George from CHINA | Feb. 12, 2020 19:24Reply
Visa card
I have access bank bank GHANA plc Visa card with me here in China . Which Bank ATM can I use to redraw money ?
Answers (1)
Answered by Timothy from DENMARK | Feb. 15, 2020 16:13

As I know, you can use Bank of China ATM.
Asked by zander from ITALY | Aug. 21, 2019 05:00Reply
Do I need this to open a bank account?
Hi there! I have a question.
I've received an X1 visa for long term stay (2 years) and I'll need to open a bank account there to survive for this long.
Is it necessary to have this temporary residence permit to open a bank account there?
I ask because waiting 6 weeks after I arrive to open a bank account sounds a bit too much.

Answers (1)
Answered by Abigail from UKRAINE | Aug. 21, 2019 22:46

Yes, it is necessary to have this temporary residence permit to open a bank account there.
Asked by Edward Lau from USA | Aug. 20, 2019 08:19Reply
Can a tourist (Tourist Visa) open a bank account in China?
For setting up a WeChat Pay or Alipay for the convenience of local general expense transactions, a China bank account is needed. So how can a tourist open a bank account? Thanks!
Answers (2)
Answered by Alessia from SINGAPORE | Aug. 20, 2019 23:15

You need to open a bank account in China by showing your valid passport. Generally speaking, you can go to Bank of China.
Answered by Matthew Huynh | Oct. 14, 2020 14:30

No. Foreign Tourists in Mainland China cannot open a bank account unless foreign residents had a valid passport, visa like Z type or X1 type, resident permit & foreign employment permit. Please understand. Otherwise, they will be subject to exit ban for more than 1 year due to arbitrary detention until it's resolved. After it's resolved, foreign tourists will be paying a fine, facing deportation and banned from entry for 10 years or in the future.
Asked by Grace Lee from HONG KONG | Jul. 30, 2019 18:56Reply
is there any ATM machine in Shanghai Pudong Airport?
Answers (1)
Answered by Connor from CANADA | Jul. 30, 2019 19:43

Yes, there are many ATM Machines in that airport. Upon landing, you are easily find the places based on the English sighs. Don't worry.
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