How a foreigner opens a bank account

Who really needs one

A tourist almost never does: Alipay and WeChat Pay with a linked foreign card cover shops, transport and taxis.

An account becomes essential once you have regular payments in yuan: salary, rent under a contract, paying a supplier, marketplace refunds. All of it runs through a local account.

An account can be opened on a tourist visa, but in practice the requirements depend on the bank and the individual branch. The longer your legal status and the clearer your reason, the easier the conversation.

Step by step

1. 1

   A Chinese number first

   Without a local number no account will be opened: confirmations come to it and mobile banking is tied to it. The SIM is registered against your passport; there is a separate guide on that.

2. 2

   Gather the documents

   The original passport with a valid visa or residence permit. Address registration — the slip from the police or the hotel. A Chinese phone number.

   They may also ask for: a lease, a letter from your employer or university, a work permit, a residence permit. The list depends on the bank — check in advance.

3. 3

   Choose the bank and the branch

   The large state banks deal with foreigners routinely, but their requirements are stricter. Central branches in big cities more often have a member of staff who speaks English.

   Ask not “do you have English” but “do you open accounts for foreigners and what documents are needed” — different questions, and the second saves you a journey.

4. 4

   Come in the morning with time to spare

   Opening an account means forms, signatures in several places and waiting. An hour to an hour and a half is normal. Some branches will not open accounts for foreigners after lunch: there is not enough time left for the procedure.

5. 5

   Set up mobile banking there and then

   The banking app, the transfer limits and, if needed, linking the card to Alipay and WeChat Pay are best done there and then, while a member of staff is beside you.

What to know about the limits

Individuals are subject to annual limits on foreign-currency transactions, and buying and selling currency goes through a bank at the official rate. That applies both to changing cash and to transfers.

A transfer from abroad to your Chinese account is possible, but the bank will ask you to explain the purpose and prove the source of funds. Ask in advance which documents your particular case needs.

Closing the account if you leave for a long time is a good idea: dormant accounts have their own rules and dealing with them from abroad is hard.