BankingBanking
Opening a bank account
Which banks work for foreign residents, what to bring, and the order that saves a second trip.
The order that works
- 01
Register your address with the police within 24 hours of arrival
- 02
Get a Chinese mobile number — banks send verification codes to it
Phone & internet - 03
Open the account in branch, in person, with original documents
- 04
Activate online and mobile banking before you leave the counter
- 05
Link the card to Alipay and WeChat Pay the same day
What to bring
- Passport
- Valid visa or residence permit
- Police accommodation registration slip
- Chinese mobile number
- Proof of address in Shanghai
- Employment letter or work permit
Requirements differ by bank and by branch, and they change. Confirm with your branch before you go.
How we work
We explain the process, tell you which branch to use, and come with you if you want company. The account is opened by you in person, in your own name.
Banks in Shanghai
Chinese state banks
Widest branch and ATM network
Bank of China
中国银行
China
- RMB account
- Foreign currency account
- Salary account
- International transfers
- Debit card
- Mobile payment binding
- Wealth & deposits
ICBC
中国工商银行
China
- RMB account
- Foreign currency account
- Salary account
- International transfers
- Debit card
- Mobile payment binding
- Wealth & deposits
China Construction Bank
中国建设银行
China
- RMB account
- Foreign currency account
- Salary account
- International transfers
- Debit card
- Mobile payment binding
Agricultural Bank of China
中国农业银行
China
- RMB account
- Foreign currency account
- Salary account
- Debit card
- Mobile payment binding
Bank of Communications
交通银行
China
- RMB account
- Foreign currency account
- Salary account
- International transfers
- Debit card
- Mobile payment binding
Postal Savings Bank of China
中国邮政储蓄银行
China
- RMB account
- Salary account
- Debit card
- Mobile payment binding
Chinese commercial banks
Often faster in-branch, lighter network
SPD Bank
浦发银行
Shanghai
- RMB account
- Foreign currency account
- Salary account
- Debit card
- Mobile payment binding
- Wealth & deposits
China Merchants Bank
招商银行
China
- RMB account
- Foreign currency account
- Salary account
- International transfers
- Debit card
- Mobile payment binding
- Wealth & deposits
Bank of Shanghai
上海银行
Shanghai
- RMB account
- Foreign currency account
- Salary account
- Debit card
- Mobile payment binding
China CITIC Bank
中信银行
China
- RMB account
- Foreign currency account
- Salary account
- International transfers
- Debit card
- Mobile payment binding
Foreign banks · retail
Locally incorporated, personal accounts
HSBC China
汇丰银行（中国）
United Kingdom / Hong Kong
- RMB account
- Foreign currency account
- Salary account
- International transfers
- Debit card
- Mobile payment binding
- Wealth & deposits
Standard Chartered China
渣打银行（中国）
United Kingdom
- RMB account
- Foreign currency account
- Salary account
- International transfers
- Debit card
- Mobile payment binding
- Wealth & deposits
DBS China
星展银行（中国）
Singapore
- RMB account
- Foreign currency account
- Salary account
- International transfers
- Debit card
- Wealth & deposits
- Corporate accounts
Bank of East Asia China
东亚银行（中国）
Hong Kong
- RMB account
- Foreign currency account
- International transfers
- Debit card
- Wealth & deposits
Hang Seng China
恒生银行（中国）
Hong Kong
- RMB account
- Foreign currency account
- International transfers
- Debit card
- Wealth & deposits
OCBC China
华侨银行（中国）
Singapore
- RMB account
- Foreign currency account
- International transfers
- Debit card
- Corporate accounts
Foreign banks · corporate
Mainly corporate and payroll
Citibank China
花旗银行（中国）
United States
- RMB account
- Foreign currency account
- Salary account
- International transfers
- Corporate accounts
MUFG Bank China
三菱日联银行（中国）
Japan
- RMB account
- Foreign currency account
- Salary account
- International transfers
- Corporate accounts
SMBC China
三井住友银行（中国）
Japan
- RMB account
- Foreign currency account
- Salary account
- International transfers
- Corporate accounts
Mizuho Bank China
瑞穗银行（中国）
Japan
- RMB account
- Foreign currency account
- Salary account
- International transfers
- Corporate accounts
Shinhan Bank China
新韩银行（中国）
South Korea
- RMB account
- Foreign currency account
- Salary account
- International transfers
- Debit card
- Corporate accounts
Woori Bank China
友利银行（中国）
South Korea
- RMB account
- Foreign currency account
- Salary account
- International transfers
- Debit card
- Corporate accounts
KEB Hana Bank China
韩亚银行（中国）
South Korea
- RMB account
- Foreign currency account
- Salary account
- International transfers
- Debit card
- Corporate accounts
Deutsche Bank China
德意志银行（中国）
Germany
- RMB account
- Foreign currency account
- Salary account
- International transfers
- Corporate accounts
BNP Paribas China
法国巴黎银行（中国）
France
- RMB account
- Foreign currency account
- Salary account
- International transfers
- Corporate accounts
J.P. Morgan China
摩根大通银行（中国）
United States
- RMB account
- Foreign currency account
- International transfers
- Corporate accounts
Tools
Rent in your own currency, and the cash you actually need on day one.