Where should I setup a bank account in China?
We asked expats in China what banks they use and there advice about banking. They advised...
"With its rich culture and friendly locals, China can be an attractive destination for retires from around the world. However, it is important to be aware of the cultural and administrative aspects of living in China. Expats should take the time to familiarize themselves with the language, particularly for day-to-day tasks like opening a bank account or finding the best place to buy groceries. Understanding local laws and regulations is also important. Lastly, it is important to research healthcare options, as private healthcare in China can be expensive and the public healthcare system may not cover certain treatments," explained one expat living in China.
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SJB GlobalSJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
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Click connect to have our partner contact you via e-mail and/or phone.
"No, we use the Boeing Credit Union but still have an account with Bank of America. My husband has his paycheck deposited in our savings account at Boeing. We can check on our accounts and transfer and such by online banking with Boeing. We have an ATM card for Boeing that we are able to use at SELECTED ATM'S in Tianjin and Beijing. Not all bank cards can be used at the ATM'S located in China," said another expat in Tianjin, China.
Other Questions:
- What should I pack when moving to China?
- Where should I setup a bank account in China?
- Will I be able to find a job in China?
- What is life like in China?
- What do expats in China appreciate most about the local culture?
- What do expats find most challenging?
- Is there a lot of crime in China?
- Is there a lot of diversity? Are people in China accepting of differences?
- What are the schools in China like?
- What are healthcare services like in China?
- What are medical services in China like?
- Are healthcare and health insurance expensive in China?
- What are emergency services like in China?
- Will I need to travel to see a specialist?
- Are common prescription medications available in China?
- How are local medical facilities in China?
- As a foreigner living in China, will I have access to public healthcare? What is it like?
- What have your experiences during the pandemic with the local healthcare system been like?
Where should I setup a bank account in China?
If you live in China, newcomers to China would love to hear your answer to this question.
About the Author
Joshua Wood, LPC is one of the Founders of Digital Nomad Exchange and serves as Co-President of Expat Exchange. Prior to Expat Exchange and Digital Nomad Exchange, Joshua worked for NBC Cable (MSNBC and CNBC
Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
