Living, travelling and working in China is pretty great, I won’t lie! In this post I’ll tell you how you go about setting up your Chinese bank account and the steps involved. It’s a very easy process so long as you have a company/person who can help you fill out the Chinese application form part!
I have just set up my bank account in Shanghai as I am working and need an account for my hard earned wages to be paid in to. I’ll be talking specifically about China Minsheng Bank but the process is very similar whatever bank you are deciding to go with. There are a lot of banks to choose from in China.
Step 1: Find a Bank
Step 2: Fill out a Bank Application form – which is usually in Chinese. This is where the company you will be working for should be able to help or if you have friend who can read the language then that will help to!
Step 3: If you made it to China and you are working then you should have your work permit. See my post on the steps to take if you’re coming to teach in China, which will go through what it is and how you obtain your work permit.
Step 4: Details of your address in China. You need an address to open a bank account.
Step 5: Passport
Step 6: A Chinese Sim card and phone number – the bank clerk will send 2 confirmation codes to you whilst they are setting up. You’ll enter these into a keypad (these are not your pin number)
Step 7: The clerk will ask you to enter a 6 digit number into the keypad *This will be your Pin Number*
That is all there is to it. Setting up your Chinese bank account shouldn’t take more than 15 – 20 minutes and if you have help with the application form, its all standard procedures.
If, like me, you’ll be moving money from your Chinese bank account back home or to another international account; then the process consists of:
- Going to your local branch
- Filling a transfer form out
- Presenting your passport – Make sure you take your passport with you to make international transfers
- Done. Funds usually transfer straight away but allow 1 working day for the transaction to be processed.
Make sure you stay up to date by following my social channels – I upload regularly to Instagram and right now there are some pretty cool shots from my first few days in Shanghai. Check them out and connect, I love looking at other travel photos too!
Travel. Create, Be Nice!
Pin this image if you think it would be helpful to you or someone you know!