It is possible to be a citizen of another country or live anywhere in the world, you just need to prove to the bank the need for the account. Opening a bank account in China can be either RMB or USD / EUR.

A personal bank account is the perfect option if you want to enjoy electronic payments and more convenience. To open an individual bank account, the following documents are required:

Insert the document list, upload form feature.

Reasons to open a bank account in China:

1. Convenient Electron Payments in China

Nowadays, living in China without electronic payments can be difficult. Major cities to small villages across China use electronic payment methods such as WeChat or Alipay for everything.

By connecting your personal bank account to these payment platforms, you will enjoy a more convenient life by ‘tap your phone and go’. Foreigners experience convenience once they open an individual bank account with a Chinese bank.

2. Easy Currency Deposit and Exchange

If you are a foreign employee or employer in China, opening an individual bank account (RMB) enables you to deposit your incomes or receive your salary into your personal account for easy banking transaction for any time. In addition, applying for a multi-currency personal account allows real-time currency exchange avoiding financial losses caused by exchange rate fluctuations. Transferring money to your overseas account is also easier.

3. Higher Safety of Personal Property Protection

If you have an individual bank account, you could simply put your money in your bank account and will only need to bring a single card with you. It’s always unsafe to bring lots of banknotes or coins with you or keep them at home. This increases the safety and avoid it being stolen.