Wechat wallet

[jase07]

Just to share, went GZ recently and tried to open bank account with a few banks. Got rejected by 1 bank. CCB said that i am not allowed to open a bank account with bank card, the most they are able to open a bank savings account with bank book for me. Said thats the best they can do.
For ABC, i told them about the youtube video about opening a bank account, they told me they can open a bank account with a bank card for me, but limit to 1k rmb per day. After much negotiation, they say they can increase to 3k rmb per day for me. But they couldn't do it on the day itself and asked me to come another day...
Oh the manager at ABC was telling me that for foreigners, it is best to go to BOC to open an account, they got some sort of green lane for foreigners.

 

[froztheart]

Just to share, went GZ recently and tried to open bank account with a few banks. Got rejected by 1 bank. CCB said that i am not allowed to open a bank account with bank card, the most they are able to open a bank savings account with bank book for me. Said thats the best they can do.
For ABC, i told them about the youtube video about opening a bank account, they told me they can open a bank account with a bank card for me, but limit to 1k rmb per day. After much negotiation, they say they can increase to 3k rmb per day for me. But they couldn't do it on the day itself and asked me to come another day...
Oh the manager at ABC was telling me that for foreigners, it is best to go to BOC to open an account, they got some sort of green lane for foreigners.

BOC able to open but limited to duration of stay in China, as I was told by the staff when I visited previously.
Not sure how true this is though since have not tried.

 

[iceoxfch]

I could link my ICBC Singapore UnionPay card to Alipay and WeChat Pay, but can't pay using both, on both Taobao and PDD. Auto currency conversion, overseas and 3DS transactions are enabled. I find it odd. Any advice? Thanks!

 

[HoGnix]

I could link my ICBC Singapore UnionPay card to Alipay and WeChat Pay, but can't pay using both, on both Taobao and PDD. Auto currency conversion, overseas and 3DS transactions are enabled. I find it odd. Any advice? Thanks!

Oh, Yesterday, I used BOC Singapore Unionpay Card paid TaoBao purchase.

 

[Garlic & Butter]

BOC able to open but limited to duration of stay in China, as I was told by the staff when I visited previously.
Not sure how true this is though since have not tried.

you mean the account is valid only for [30] days and will auto-close after that?

 

[froztheart]

you mean the account is valid only for [30] days and will auto-close after that?

Yes, that's what I was told by the BOC staff at GZ.
Didn't have a chance to vist any other branch to check/try luck.

 

[bertrande]

Just to share, went GZ recently and tried to open bank account with a few banks. Got rejected by 1 bank. CCB said that i am not allowed to open a bank account with bank card, the most they are able to open a bank savings account with bank book for me. Said thats the best they can do.
For ABC, i told them about the youtube video about opening a bank account, they told me they can open a bank account with a bank card for me, but limit to 1k rmb per day. After much negotiation, they say they can increase to 3k rmb per day for me. But they couldn't do it on the day itself and asked me to come another day...
Oh the manager at ABC was telling me that for foreigners, it is best to go to BOC to open an account, they got some sort of green lane for foreigners.

Same MO at the ABC in Shenzhen when my colleague went in August ie can open but limit to 1k rmb in daily expenditure and next day account opening. He opted for ICBC and CMB instead.

BOC able to open but limited to duration of stay in China, as I was told by the staff when I visited previously.
Not sure how true this is though since have not tried.

Yes one CMB branch in Shanghai told me the same thing re closure of bank account upon leaving China. Suggested that I use tour card instead. Another CMB allowed with no restrictions…I think every branch operates within the parameters it is comfortable with.

 

[froztheart]

Same MO at the ABC in Shenzhen when my colleague went in August ie can open but limit to 1k rmb in daily expenditure and next day account opening. He opted for ICBC and CMB instead.


Yes one CMB branch in Shanghai told me the same thing re closure of bank account upon leaving China. Suggested that I use tour card instead. Another CMB allowed with no restrictions…I think every branch operates within the parameters it is comfortable with.

Yup, that seems to be the way how banking works in China, each branch has its own discretion.
So will have to try it out again when i am back in China.

 

[16/8IF]

Same MO at the ABC in Shenzhen when my colleague went in August ie can open but limit to 1k rmb in daily expenditure and next day account opening. He opted for ICBC and CMB instead.


Yes one CMB branch in Shanghai told me the same thing re closure of bank account upon leaving China. Suggested that I use tour card instead. Another CMB allowed with no restrictions…I think every branch operates within the parameters it is comfortable with.

Yes it seems their regulations are not consistent.

So far none of the accounts I had since 2007 were asked to be closed on leaving China.( i have entered with visa free since 2016).

Maybe I share this particular incident

when I went to update my new passport with Construction bank of China, bank manager insist I provide a Singapore tax number ! ( she refer to something similar to the American Social Security Number).

I explained that, firstly I retired more than 15 years ago and never paid any taxes so I don't have any tax number to provide .

Was asked to provide my SG's home address too ,

was never asked all these years and was not asked by the rest of the banks I had account with.

I was asked to sign a particular form which she said was part of the new bank procedure for updating of document .

Normally I don't check such document and just signed it .

This time I checked , and under the section for Tax number they fill in my new passport number !

I basically scolded the manager , how can you do such thing , if i signed on it , means I am providing false information !

She than explained that they needed this step in order for the updating of the new passport details to be uploaded.

In that case I told her , I closed my account
if you are unable to do it , but in less than 1 min she say no need , she has approved it !

Sometimes in China you need to stand your ground and not provide what is private & confidential.

In total , I had to update my new passport with 4 banks and only CCB asked for this !

Ps all my accounts are only active during Oct-Dec annually the rest of the time it is inactive .

With regards to the daily expenditure limit, from what I experience and understood from the staff , they will raise the amount based on your cash flow over a period of time .

 

[froztheart]

Yes it seems their regulations are not consistent.

So far none of the accounts I had since 2007 were asked to be closed on leaving China.( i have entered with visa free since 2016).

Maybe I share this particular incident

when I went to update my new passport with Construction bank of China, bank manager insist I provide a Singapore tax number ! ( she refer to something similar to the American Social Security Number).

I explained that, firstly I retired more than 15 years ago and never paid any taxes so I don't have any tax number to provide .

Was asked to provide my SG's home address too ,

was never asked all these years and was not asked by the rest of the banks I had account with.

I was asked to sign a particular form which she said was part of the new bank procedure for updating of document .

Normally I don't check such document and just signed it .

This time I checked , and under the section for Tax number they fill in my new passport number !

I basically scolded the manager , how can you do such thing , if i signed on it , means I am providing false information !

She than explained that they needed this step in order for the updating of the new passport details to be uploaded.

In that case I told her , I closed my account
if you are unable to do it , but in less than 1 min she say no need , she has approved it !

Sometimes in China you need to stand your ground and not provide what is private & confidential.

In total , I had to update my new passport with 4 banks and only CCB asked for this !

Ps all my accounts are only active during Oct-Dec annually the rest of the time it is inactive .

With regards to the daily expenditure limit, from what I experience and understood from the staff , they will raise the amount based on your cash flow over a period of time .

There seems to be a centrally mandated regulation, but the crux is the application of such regulations.
Which ultimately, depend on the branch manager's discretion.. which is kind of weird and new for Singaporeans that is used to a uniformed application of regulations.

And yes, standing your ground means the possibilty of having to run round to enquire before being successfully in opening a bank account in China, which is a hassle if one is on a tight schedule.

I presumed she approved your new documentation update possibly due to a high cashflow movement?
Otherwise, if account is dormant for most of the year without any high valued transactions etc. I do not see any reason for them to retain you as a customer. Do correct me if I am wrong.

 

[jase07]

Yes it seems their regulations are not consistent.

So far none of the accounts I had since 2007 were asked to be closed on leaving China.( i have entered with visa free since 2016).

Maybe I share this particular incident

when I went to update my new passport with Construction bank of China, bank manager insist I provide a Singapore tax number ! ( she refer to something similar to the American Social Security Number).

I explained that, firstly I retired more than 15 years ago and never paid any taxes so I don't have any tax number to provide .

Was asked to provide my SG's home address too ,

was never asked all these years and was not asked by the rest of the banks I had account with.

I was asked to sign a particular form which she said was part of the new bank procedure for updating of document .

Normally I don't check such document and just signed it .

This time I checked , and under the section for Tax number they fill in my new passport number !

I basically scolded the manager , how can you do such thing , if i signed on it , means I am providing false information !

She than explained that they needed this step in order for the updating of the new passport details to be uploaded.

In that case I told her , I closed my account
if you are unable to do it , but in less than 1 min she say no need , she has approved it !

Sometimes in China you need to stand your ground and not provide what is private & confidential.

In total , I had to update my new passport with 4 banks and only CCB asked for this !

Ps all my accounts are only active during Oct-Dec annually the rest of the time it is inactive .

With regards to the daily expenditure limit, from what I experience and understood from the staff , they will raise the amount based on your cash flow over a period of time .

yeah yeah CCB did ask me to fill up a form regarding tax number too. But in the end did not submit the form because they couldn't open a card account for me.

 

[16/8IF]

There seems to be a centrally mandated regulation, but the crux is the application of such regulations.
Which ultimately, depend on the branch manager's discretion.. which is kind of weird and new for Singaporeans that is used to a uniformed application of regulations.

And yes, standing your ground means the possibilty of having to run round to enquire before being successfully in opening a bank account in China, which is a hassle if one is on a tight schedule.

I presumed she approved your new documentation update possibly due to a high cashflow movement?
Otherwise, if account is dormant for most of the year without any high valued transactions etc. I do not see any reason for them to retain you as a customer. Do correct me if I am wrong.

This account has low turnover , it is basically tied to my Giro for electricity and water for my apartment.

This account was opened in 2007 and it was used for this purpose and nothing else .

I didn't even linked it to any Wechat Pay or Alipay , i guess if the account is closed she has to submit the reasons for closing the account .

Ps FYI after i finished with all four banks in updating my new passport , I went back to CBC to show to that branch manager , none of their other banks even asked me about the tax number , it was the usual procedure.

By the way all the four banks were located in a 500 meter radius .

 

[froztheart]

This account has low turnover , it is basically tied to my Giro for electricity and water for my apartment.

This account was opened in 2007 and it was used for this purpose and nothing else .

I didn't even linked it to any Wechat Pay or Alipay , i guess if the account is closed she has to submit the reasons for closing the account .

Ps FYI after i finished with all four banks in updating my new passport , I went back to CBC to show to that branch manager , none of their other banks even asked me about the tax number , it was the usual procedure.

By the way all the four banks were located in a 500 meter radius .

Right, possibly just avoiding the unnecessary paperwork on her end then.
Must be a good location you visited to have that many banks together in a centralised location providing such convenience.

 

[16/8IF]

Right, possibly just avoiding the unnecessary paperwork on her end then.
Must be a good location you visited to have that many banks together in a centralised location providing such convenience.

It is basically just outside the apartment.
There are actually more banks around there but I think 4 is enough for my use .

For the tax number , it does appear on
My ICBC apps but i went to the banking hall manager to ask him to turn off the notifications for me as it kind of irritating to receive them every few mins .

I also asked my Chinese friends about it , they say just ignored it , they too received this as well .

 

[froztheart]

It is basically just outside the apartment.
There are actually more banks around there but I think 4 is enough for my use .

For the tax number , it does appear on
My ICBC apps but i went to the banking hall manager to ask him to turn off the notifications for me as it kind of irritating to receive them every few mins .

I also asked my Chinese friends about it , they say just ignored it , they too received this as well .

I'm just curious, and if you do not mind sharing, what are the bank accounts that you got, and among them, which wouid you say is the best or most preferred (ease of access/convenience/rates/service etc.).

 

[16/8IF]

I'm just curious, and if you do not mind sharing, what are the bank accounts that you got, and among them, which wouid you say is the best or most preferred (ease of access/convenience/rates/service etc.).

sure , I have the following

1)BOC - 2 cards One I linked to WeChat Pay , the other ones basically useless can't be linked to Wechat pay or Alipay but can be used to buy stuff on douyin.( in the early years basically POS terminal type of payment ).

2) Bank of Communication China- linked with Alipay .

3) ICBC - linked with another Wechat act ( different from point 1).

4) CBC linked for electricity and water payment Giro.

The first two BOC and Bank Comm are the better ones in terms of dealing with foreigners example updating procedure of new passports etc .

The Best in my opinion is Bank Comm ( HSBC has a stake in it ) while BOC depending if you meet with an experience teller or not .

Lastly if I am not wrong all my account is Cat 1.

 

[froztheart]

sure , I have the following

1)BOC - 2 cards One I linked to WeChat Pay , the other ones basically useless can't be linked to Wechat pay or Alipay but can be used to buy stuff on douyin.( in the early years basically POS terminal type of payment ).

2) Bank of Communication China- linked with Alipay .

3) ICBC - linked with another Wechat act ( different from point 1).

4) CBC linked for electricity and water payment Giro.

The first two BOC and Bank Comm are the better ones in terms of dealing with foreigners example updating procedure of new passports etc .

The Best in my opinion is Bank Comm ( HSBC has a stake in it ) while BOC depending if you meet with an experience teller or not .

Lastly if I am not wrong all my account is Cat 1.

Right, haven't had a great experience with BOC previously.
ICBC was fine for me. Shall check out BCC & CBC.

Sorry, pardon my ignorance but Cat 1 refers to?

 

[16/8IF]

Right, haven't had a great experience with BOC previously.
ICBC was fine for me. Shall check out BCC & CBC.

Sorry, pardon my ignorance but Cat 1 refers to?

I don't know fully to explain them.

Here is link to one douyin video , my Chinese is not that good not sure this is the right video for what you are asking .

8.97 复制打开抖音，看看【金融分享会（福州）的图文作品】你知道银行卡的分类吗。# 银行卡 # 银行 # 知... https://v.douyin.com/iAcdr6Q6/ I@V.LW JiP:/ 01/19

 

[16/8IF]

Right, haven't had a great experience with BOC previously.
ICBC was fine for me. Shall check out BCC & CBC.

Sorry, pardon my ignorance but Cat 1 refers to?

This could be a better video to explain them,
listen after the credit card where she explained the bank account card.

9.74 复制打开抖音，看看【阿旺的退休生活的作品】我们生活中总会用到银行卡的啦，那不同的银行卡有哪些... https://v.douyin.com/iAcRhUy4/ nqr:/ Q@k.cN 02/06

 

[turtle2018]

Whenever I update my passport details at banks in China, the Form requires me to declare my "tax residency". After I indicate "Singapore", I also need to indicate my Singapore "Tax Identification No." (I think is called 税务识别码 or 税务代码 in Chinese). I'll input my NRIC, which is the "Tax Reference No" per IRAS Notice of Assessment.