Shanghai Bank Account Opening
Hotline: 86-755-82147392, Email:info@citilinkia.com
In nowadays, more and more persons , their money are connnected with the bank , and they will take all advantages to use the bank service ,to manage their own money. In this article, ATAHK we will help you that how to open a bank account in Shanghai , the steps detail as follows :
1. Select a bank.
The larger national banks have more experience dealing with foreigners and can make the process easier. Three of the biggest banks are the Bank of China, Industrial and Commercial Bank of China (ICBC) and the Agricultural Bank of China.
2. Get a Chinese translation of the applicant's name.
Although it is not required, this can make official processes easier in the future.
3. Obtain a residency permit before establishing a bank account if living in Shanghai on a long-term basis.
A residency permit is the official document given by the government of China that allows foreigners to stay in China. This is issued by the local authorities and requires a valid passport, four passport photos and a Certificate of Health Examination.
4. Take your passport and residency permit to the bank.
Just as in American banks, there is an application form. The larger bank branches have English speaking clerks to assist with the process, but it helps to have a Chinese speaking person along to simplify the transaction.
5. Decide if the account will be in dollars or in Chinese Ren minbi (RMB).
To open a bank account with US Dollars, you need a minimum deposit of $300 to $500. The RMB accounts can be opened with as little as 1 RMB. The Bank of China has a "Savings Deposit Account Passbook" that allows depositors to deposit various foreign currencies.
6. Use ATMs for currency withdrawals (in RMB).
Deposits can also be made in this way but the account holder will have to understand the Chinese language interface. Bank debit cards are becoming more prevalent and many supermarkets, book stores, department stores and other retail outlets in Shanghai accept bank cards and credit cards.
Contact Us
For further queries, please do not hesitate to contact ATAHK at anytime, anywhere by simply calling China hotline at 86-755-82148419, 86-755-82143512, or emailing to info@citilinkia.com