Opening a Bank Account in China
For longer stays, a Chinese bank account unlocks the full range of financial services. Here is what you need to know to get started.
How to Open an Account
Visit any nearby branch of a major Chinese bank with your passport or other valid identification document.
Major banks with widespread branch networks include:
Staff at the branch will guide you through the account opening process and help with any paperwork.
Services Available With a Bank Account
Deposits & Withdrawals
Deposit and withdraw both RMB and foreign currencies at any branch.
Foreign Currency
Purchase and sell foreign currency at competitive bank rates.
Transfers
Make domestic transfers and cross-border remittances.
Currency Exchange
Exchange foreign currency for RMB and vice versa.
Link to Mobile Pay
Connect your account to Alipay or WeChat Pay for seamless QR payments with higher limits.
When You Need a Bank Account
Extended stays such as work, study, or long-term travel in China
Sending and receiving red packets on WeChat
Making person-to-person transfers
Receiving money from others via mobile payment platforms
Accessing higher transaction limits on mobile payment apps
Pro Tip
If you open a Chinese bank account, you can link it to Alipay or WeChat Pay for much higher transaction limits and full person-to-person functionality, including red packets and transfers.