How to open a bank account in China, Beijing

4 min readMay 1, 2023

Written by Wenyi Wu

Beijing banks

There are several banks in China, there are nearly 300 banks in Beijing, including large commercial banks, joint-stock commercial banks, city commercial banks, rural commercial banks, rural credit cooperatives, foreign banks, and other different types of banks.

From my research, the opening process of large banks is relatively simple and more inclusive, such as China Construction Bank, Shanghai Pudong Development Bank, Bank of China, Industrial and Commercial Bank of China, etc., and also provide online banking services, so is more convenient.

Process:

1. Make an appointment online or by phone

2. Take relevant documents to the bank branch

3. Fill out forms with the assistance of the bank lobby staff

4. Get the number and queue up, and copy the ID card with the assistance of the staff;

5. The counter calls the number, goes to the counter, fills in the form and ID card to the bank teller when the card will need to sign and enter the password, the password is six digits, set after you want to remember, this is the future withdrawal password;

6. You will get a bank card after completing all the procedures. If you do online banking at the same time, you will get a secret security card or a U shield at the same time.

7. Finish opening the card and leave it with your belongings.

If you open the online accounts, just need to download the app, and fill out the documentation.

Documents required

• For Chinese, a passport or ID card is required. For foreigners, a passport must be provided and must contain a valid business visa of at least three months.

• Employment certificate/valid labor Certificate/labor contract. The certification materials provided shall contain the name of the company.

• Current residential address and relevant supporting materials.

• If the customer is a self-employed business owner, it is required to provide a valid business license or tax registration certificate and other supporting materials;

• If the customer is a foreigner, an additional copy of the foreigner’s residence permit/a copy of the foreigner’s permanent residence permit is required.

~ If you are a foreign student coming to China, the Bank of China provides a special international student card, which is the best choice for foreign students. If you want to apply for this card, you need to prepare the following materials: Passport, admission Certificate, Admission Certificate, exchange student ID card, and Visa (provide more than one kind of them)

Would any 18 years old have all of them?

According to Chinese regulations, if a child becomes an adult after the age of 18, all banking services can be handled.

If you are over 16 years old, you can apply for a debit card under the company of a valid guardian and parents, but you cannot open mobile banking or online banking. Or if the guardian has a bank credit card, they can get a secondary credit card for the child.

If you are under the age of 16, the guardian needs to handle the agent, the guardian needs to bring ID card and household register.

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

The debit card needs to go to the counter of the bank branch to handle it. It takes about half an hour to finish the whole process, and you can get the card on the same day. After you get the card, you can activate it and make deposits and payments on the same day too.

Cost to open account plus annual fees.

So from the view of the cheapest annual fees, Minsheng Bank, Shanghai Pudong Development Bank, Industrial Bank, and China Merchants Bank are the best choice.

Are foreign students allowed to open such accounts?

Foreign students are allowed to open bank accounts in China. And many banks, such as the Bank of China, offer special cards for international students.

Are tourists allowed to open accounts?

Unfortunately, tourists from other countries are not allowed to open bank accounts.

Online opening accounts

Download the application and click on Online opening accounts

1. Select the card outlook and check the box

2. Fill out the contents respectively.

Name

Name spell

Phone number

Bank Institution

Job

State