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opening a bank account

hermit (47 posts) • 0

Greetings from a newbie.

I have noticed many knowledgeable posters here who might have some current information regarding the opening of a bank account.

I am newly arrived from Hunan Province, where 5 of the various Big Banks all told me that they no longer open accounts for foreigners, except for students.
As sometimes happens, these policies can vary from one Province to another, so was hoping for a more relaxed regime in Yunnan.
I am on a 10-year visa, and will require direct deposit in future.
Any ideas would be welcome.

JanJal (932 posts) • 0

Best you can do is to go visit the main BOC office on Beijing Lu, and ask.

I have not heard of such new limitations. But also have not tried to open new personal bank account since coming here years ago.

I'm pretty sure foreigners (not only students, but those working and living here for example) need a bank account, and as such I think your experience of Hunan sound suspicious.

If you are on 10-year visa, that's still a visa (as opposed to residence permit of any kind), and rules may of course be different for such visitors.

cloudtrapezer (739 posts) • 0

It may be difficult to open a bank account if you're on a tourist visa. That's certainly the case in many countries and I think China has tightened up. Work and student visas are supplemented by residence permits that usually last a year or six months. The residence permits are separate certificates pasted into your passport in addition to the visa, . With a residence permit there's no problem. If you're on a tourist visa, try different banks. Some may be more relaxed about the rules than others. Good luck.

hermit (47 posts) • 0

The new policy in Hunan occurred within the past few months.
While attempting to upgrade my visa to resident status, the PSB official gave me a reference to a few banks.
The banks, in turn, had to submit my application back to PSB for approval..

That is one glitch: PSB classes me a visitor, when they know that I live here, and will continue to do so.

Thanks for your ideas.

Peter99 (1246 posts) • 0

If u get desperate Laos still allowed foreigners to open bank accounts few years ago. I didnt do it, but I did ask at bank in Luang Prabang ab this 2015 when i needed a transfer there, and was looking solutions. (Vietnam and the rest are not easy.) Dont expect it to work if u go in with a backpack and a beer lao t-shirt, but u can probably find a loophole with some effort - and by making a quick base there. Who knows. I guess the economy there is still enough shady to leave some loopholes. But maybe banks there have recently changed too, this i dont know.

Dont know if this would help your situation though, maybe u must have it in china.

Yunnan had a big deal on this a few years ago, when all burmese peoples accounts were closed and foreigners screened tightly.

Peter99 (1246 posts) • 0

Sorry my text was nonsense on your issue after reading your reply below.

Mind asking, why does psb give references for banks when upgrading visa to resident? Is a local bank account mandatory for applying residence permit?

Or what do u mean by ”attempting” upgrade visa to resident?

Sounds like u are not employed, being employed, or cant be employed, and thats the issue here. You got that 10 year on off visa which is not a resident permit, how can u even ”attempt to upgrade” it. Dont expect yunnan to be easier, u might as well try laos. Probably though there too by now.

What is news here is that banks ask residence permit and business visa not enough, even if ten years. Makes sense, in a global context.

So you, hermit, have the solution of becoming a student. Appealing?

Ishmael (463 posts) • -1

I don't understand the point of having a bank account in Laos.
"Burmese and foreigners" - perhaps we might remember that Burmese are foreigners in China too - the idea that foreigners = westerners strikes me as an unfortunate exclusiveness when promoted by westerners, despite how terms may be used by Chinese people.

Peter99 (1246 posts) • -1

heh

I dont buy your ethics man. No need to point out why.

Burmese and foreigners, there it is once again. What u gonna do about it.

Peter99 (1246 posts) • +1

I try to imagine myself getting triggered when some brit writes eg about vietnamese and foreigners, in guanxi, so that i would whine how vietnamese are foreigners too.

And ur a grown up man.

My guess is that the only power u have at ur hands, is so small, that what is left for a power hungry, is trying to power other peoples use of language. Maybe u should grow carrots or something and use ur power at least on veggies or something. Or get a pet and give some commands to it, finally someone listens. Hope u dont practice any penalty camps with it tho.

hermit (47 posts) • 0

@PETER 99
YOUR TEXT IS NOT NONSENSE; ALL IDEAS ARE WELCOME.

I WAS EXPLORING THE POSSIBILITY OF UPGRADING TO RESIDENT STATUS, SINCE I AM A RESIDENT. THE PSB OFFICER WAS QUITE FRIENDLY AND PERSONAL. I MET HER FAMILY, ETC.
THE BANK ACCOUNT WAS ONLY MENTIONED IN PASSING, AND SHE VOLUNTEERED THE CONTACTS AT THE BANKS.
THE BANKS DIDN'T SPECIFY VISA TYPES, ONLY THAT THEY ARE NOT PROCESSING NEW ACCOUNTS FOR FOREIGNERS, ONLY STUDENTS.

I WILL ATTEMPT THE SAME PROCEDURE HERE, BUT, FOR NOW, DUE TO THE LACK OF BUS-MAP INFORMATION, AM A SORT OF HOSTAGE IN ANCIENT TOWN.

MY EURO BANK CARDS ARE VALID FOR 3 MORE YEARS, BUT MUCH PREFERABLE TO BE LOCAL, NO?

THANKS FOR THE FEEDBACK. CHEERS.

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