I opened a bank account at ICBC with my passport. They asked for 6 documents and my patience.
My friend from Italy got a job in Shanghai. Her company said: "Open a Chinese bank account. We need to pay your salary."She walked into an ICBC branch near her apartment.
The documents they asked for:
1. Passport (original)
2. Residence permit (original)
3. Employment contract (copy)
4. Chinese phone number (for SMS verification)
5. Phone number confirmation letter from the mobile provider
6. A second person's passport and phone number
She stopped at #6.
"Why do you need a second person?"
"Bank policy. Two tokens for online banking security. The second person gets one token. They don't have access to your account. It's just for security."
She called me. I lent her my passport and phone number.
The process:
Day 1: She went to the bank at 9 AM. Took a number.
At 10:30 AM, her number was called.
The banker reviewed her documents. Filled out forms. Asked questions:
• "What's your monthly salary?"
• "What will you use the account for?"
• "Will you send money abroad?"
• "How much? How often?"
Then he entered everything into the system.
At 12 PM, he said: "Come back tomorrow. The system needs to approve your application."
Day 2:
She returned. The application was approved.
She signed 8 documents. Set her PIN. Received her bank card (UnionPay).
Total time: 5 hours across two days.
What she got:
• A UnionPay debit card
• Online banking access
• Mobile banking app
• Two physical security tokens (one for her, one for the "second person")
The reality for foreigners in 2026:
You CAN open an account if:
• You have a valid residence permit (not a tourist visa)
• You have a Chinese phone number in your name
• You have proof of address
• Your nationality isn't on the bank's restricted list
You CANNOT easily open an account if:
• You're on a tourist visa (most banks refuse)
• You don't have a Chinese phone number
• Your passport is from a sanctioned country
• You're a "digital nomad" with no fixed address
Which bank to choose:
ICBC (工商银行):
• Most foreigner-friendly
• Most branches
• English-speaking staff at major branches
• Long queues
Bank of China (中国银行):
• Good for international transfers
• Often faster for forex
• Mixed English support
HSBC (汇丰):
• Full English service
• Higher fees
• Fewer branches
• Easiest for international banking
China Merchants Bank (招商银行):
• Best mobile app
• Good English support
• Smaller branch network
The fees:
• Account opening: Free
• Annual card fee: ¥10-20
• ATM withdrawals (same bank): Free
• ATM withdrawals (other bank): ¥2-4 per transaction
• International transfer: ¥150-300 + intermediary bank fees
• Wire transfer receiving: ¥50-200
Tips:
• Go to a major branch (not a small neighborhood one)
• Bring a Chinese-speaking friend if possible
• Bring EVERY document you have
• Be patient. This is not a 10-minute process.
• Set up Alipay and WeChat Pay immediately after getting your card
My friend's verdict: "I expected to walk in, show my passport, and walk out with a card. Instead I spent 5 hours, signed 8 documents, and had to find a 'second person' for a security token. But now I have a Chinese bank account, Alipay works perfectly, and I feel like a real resident."
Anyone else opened a Chinese bank account? Which bank and how was the experience?
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