How to open a bank account-China Merchants Bank

China Merchants Bank account opening- documents required

There are two ways to open an account, one is to apply online and the other is to apply offline.

1. Your valid identification documents, such as a national ID card.

2.A completed account application form（include personal information, see next slide）

In some cases, you may be asked to provide additional documentation to verify your income or employment

Application Form

General Information

1. Name

2. Marriage Status

3. Education Level

4. Job

5. Phone Number

6. E-Mail

7. Address/Zip Code

8. Work Address

9. Work Number

10. Why open a bank account？

If the applicant is younger than sixteen years old, he/she needs to fill in the agent information.

Agent Information

Same as General Information.

Type of account applied

Basic functions required

Do you need express service？

Notice to Customers

Sign

Minors who are not 18

For those under 16 years old, a legal guardian is required to apply for account opening on their behalf, and both parties need to provide their identification documents and proof of guardianship (such as a household registration book or a birth certificate).

For those aged between 16 and 18 years old, account opening can be handled by either the legal guardian or the individual with valid identification documents.

For those over 18 years old, the account opening process must be completed in person by the individual.

Days until debit card is activated and deposits and payments can be made

The time it takes to activate your debit card and start making deposits and payments with your China Merchants Bank account can vary depending on a number of factors, such as the type of account you have and whether you apply online or in person. In general, however, the process typically takes a few business days.

If you open an account offline, you can activate the card immediately at the local bank and start using it. If you apply online, it may take a few days for your application to be processed. Once the card is delivered to you, you can activate it either by visiting the local bank or by calling a designated phone number.

Once you have activated the card, you can immediately deposit money into the account.

Cost to open account plus annual fees

From the photos above:

Account/Debit Cards may require a fee of 5 RMB, although this can vary by city and some cities may offer exemptions or reductions. To confirm specific requirements, it is necessary to contact the local bank.

Account/Debit Card does not have an annual fee.

Are foreign students allowed to open such accounts?

•Hong Kong and Macao compatriots want to open an account with China Merchants Bank, they need to provide a Hong Kong/Macau residents’ visit permit.

• Foreigners need to provide a passport or a foreigner’s permanent resident permit.

•For opening an account for a foreign minor （under 16 years old）, it is necessary to contact the local bank, as policies may vary by country.

• All foreigners may need to provide a passport, residence permit, or driver‘s license as supporting documents when opening an account. Specific requirements should be confirmed with the local bank.

Foreigners can only apply for a debit card I, and are not eligible to apply for other types of debit cards.

Are tourists allowed to open accounts?

My debit card

This article was written by Ziyang Tang, a graduate student at NYU.

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About me. George Benaroya