{"id":76437,"date":"2020-09-17T12:05:32","date_gmt":"2020-09-17T12:05:32","guid":{"rendered":"http:\/\/staging.expatinfodesk.com\/?page_id=76437"},"modified":"2024-01-09T12:25:32","modified_gmt":"2024-01-09T12:25:32","slug":"banking","status":"publish","type":"page","link":"https:\/\/www.expatinfodesk.com\/beijing\/banking\/","title":{"rendered":"Banking Guide Beijing"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row type=&#8221;container&#8221; padding_top=&#8221;&#8221; padding_bottom=&#8221;&#8221; el_class=&#8221;three-top-tips&#8221; css=&#8221;.vc_custom_1599875304748{margin-left: 0px !important;border-right-width: 0px !important;padding-right: 0px !important;padding-left: 0px !important;border-right-color: #ffffff !important;}&#8221;][vc_column width=&#8221;2\/3&#8243;][vc_column_text]<\/p>\n<h2>Banking Overview<\/h2>\n<p>Bank opening hours vary but on the whole banking hours are 9 am-5 pm with some branches open on the weekend as well. The banking system is safe in China although not very efficient because most banking must be done in person. Visitors to banks must take a number, wait their turn, and speak to a teller to do their banking. There is very little phone or internet banking available and most services will require that customers show up in person for any type of transaction.<\/p>\n<p>ATMs are easy to find throughout the city, especially ones for Bank of China and other major domestic banks. You\u2019ll find them in shopping complexes, large grocery stores, tourist areas, and entertainment districts. ATMs will also accept foreign credit cards connected to Cirrus, Plus, AmEx, Visa, and Mastercard networks, but be wary of fees imposed by your issuing bank. Some local banks will charge transaction fees, but some will not.<\/p>\n<p>Most purchases are either made in cash or with ATM bank cards (debit cards). Because the largest bill denomination in China is 100 RMB (about $15 USD) it is most convenient to carry a debit card tied to an RMB bank account.<\/p>\n<h3>International Banks<\/h3>\n<p>There are several international banks that have set up a special branch in <a href=\"https:\/\/www.expatinfodesk.com\/destinations\/beijing\/\">Beijing<\/a>, but their services are very limited under current government regulations and they do not offer ATM services. Much of the business at these branches service corporate accounts. You will be able to find English-speaking employees at all locations of the more popular international banks listed below.<\/p>\n<ul>\n<li>Citibank: Seven branches in Beijing and limited ATM locations throughout the city. Check their website for more information. (6510 2458)\u00a0<a href=\"http:\/\/citibank.com\/\">http:\/\/citibank.com<\/a>.<\/li>\n<li>HSBC: Eight branches in the city, including at China World Trade Center. 22 ATM locations throughout the city, including at most Carrefours. (5999 8888)\u00a0<a href=\"http:\/\/www.hsbc.com.cn\/\">http:\/\/www.hsbc.com.cn<\/a><\/li>\n<\/ul>\n<h3>Other Major Banks<\/h3>\n<p>Most people (including ex-pats) use one of the major Chinese banks in Beijing. Employers can usually direct deposit paychecks most easily into domestic banks, and ATM locations for domestic banks are abundant throughout the city.<\/p>\n<p>The best place to find an English-speaking employee at one of the major banks is to visit a branch in the central business or financial district. However, there is likely at least one person at any branch who will be able to help you if your teller\u2019s English is not sufficient.<\/p>\n<ul>\n<li>Industrial and Commercial Bank (ICBC): The largest bank in China, ICBC has over 20,000 branches in China and 106 branches overseas. (95588)\u00a0<a href=\"http:\/\/www.icbc.com.cn\/\">http:\/\/www.icbc.com.cn<\/a><\/li>\n<li>China Merchants Bank: Has one of the better English websites. (6642 6969)\u00a0<a href=\"http:\/\/english.cmbchina.com\/\">http:\/\/english.cmbchina.com<\/a><\/li>\n<\/ul>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/3&#8243; el_class=&#8221;city-side-bar&#8221;][vc_row_inner el_class=&#8221;sidebar-section-one&#8221;][vc_column_inner][vc_custom_heading text=&#8221;Top Tips&#8221; font_container=&#8221;tag:h4|font_size:24|text_align:left|color:%23ffffff&#8221; google_fonts=&#8221;font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:400%20regular%3A400%3Anormal&#8221;][vc_separator color=&#8221;#ffffff&#8221; type=&#8221;full_width&#8221; thickness=&#8221;1&#8243; up=&#8221;&#8221; down=&#8221;&#8221;][vc_column_text]<\/p>\n<table class=\"table table-condensed sidebar-section-one-table\">\n<tbody>\n<tr>\n<td>01<\/td>\n<td>Stock up on prescription medicine before you relocate since pharmacies here cannot honor an overseas prescription.<\/td>\n<\/tr>\n<tr>\n<td>02<\/td>\n<td>An excellent phrasebook that many expats rely on is called \u201cMandarin Phrasebook\u201d published by Immersion Guides in China.<\/td>\n<\/tr>\n<tr>\n<td>03<\/td>\n<td>Try and join the private Yahoo! group, BeijingCafe, which caters to expats. Membership requires invitation by a current member.<\/td>\n<\/tr>\n<tr>\n<td>04<\/td>\n<td>If you have a baby, it may be prudent to stock up on infant formulae from your home country before you arrive.<\/td>\n<\/tr>\n<tr>\n<td>05<\/td>\n<td>Prepare mentally for the pollution. Consider purchasing an air filter for your home when you arrive.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner el_class=&#8221;sidebar-section-two&#8221;][vc_column_inner][vc_custom_heading text=&#8221;Useful links&#8221; font_container=&#8221;tag:h4|font_size:24|text_align:left&#8221; google_fonts=&#8221;font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:400%20regular%3A400%3Anormal&#8221; el_class=&#8221;useful-links&#8221;][vc_separator color=&#8221;#ffffff&#8221; type=&#8221;full_width&#8221; thickness=&#8221;1&#8243; up=&#8221;&#8221; down=&#8221;&#8221;][vc_column_text el_class=&#8221;useful-links&#8221;]<\/p>\n<ul>\n<li><a title=\"http:\/\/www.thebeijinger.com\" href=\"http:\/\/www.thebeijinger.com\/\">http:\/\/www.thebeijinger.com<\/a><br \/>\nWebsite of one of the popular monthly expat magazines in the city.<\/li>\n<li><a title=\"http:\/\/www.nciku.com\" href=\"http:\/\/www.nciku.com\/\">http:\/\/www.nciku.com<\/a><br \/>\nAn online dictionary with English and Chinese for language learners.<\/li>\n<li><\/li>\n<\/ul>\n<p>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner el_class=&#8221;sidebar-section-three&#8221;][vc_column_inner][vc_custom_heading text=&#8221;Interesting fact&#8221; font_container=&#8221;tag:h4|font_size:24|text_align:left|color:%23333333&#8243; google_fonts=&#8221;font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:400%20regular%3A400%3Anormal&#8221;][vc_separator color=&#8221;#eeeeee&#8221; type=&#8221;full_width&#8221; thickness=&#8221;1&#8243; up=&#8221;&#8221; down=&#8221;&#8221;][vc_column_text]<\/p>\n<table class=\"table table-condensed sidebar-section-three-table\">\n<tbody>\n<tr>\n<td>\n<div class=\"fa fa-snowflake-o\" aria-hidden=\"true\"><\/div>\n<\/td>\n<td>On an average day, the air pollution levels in Beijing are nearly five times above World Health Organization standards for safety.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row type=&#8221;container&#8221; padding_top=&#8221;&#8221; padding_bottom=&#8221;&#8221;][vc_column][vc_column_text]<\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row type=&#8221;container&#8221; padding_top=&#8221;&#8221; padding_bottom=&#8221;&#8221; el_class=&#8221;three-top-tips&#8221; css=&#8221;.vc_custom_1599875304748{margin-left: 0px !important;border-right-width: 0px !important;padding-right: 0px !important;padding-left: 0px !important;border-right-color: #ffffff !important;}&#8221;][vc_column width=&#8221;2\/3&#8243;][vc_column_text] Banking Overview Bank opening hours vary but on the whole banking hours are 9 am-5 pm with some branches open on the weekend as well. The banking system is safe in China although not very efficient because most [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":74986,"parent":74985,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"page-beijing.php","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"footnotes":""},"class_list":["post-76437","page","type-page","status-publish","has-post-thumbnail","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Banking Options in Beijing for Expats | Expat Info Desk<\/title>\n<meta name=\"description\" content=\"A guide for Expats and Global Nomads to banking options in Beijing, China. 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