Originally Posted by
zippy the pinhead
A family member will be doing a gap year in Chengdu (about ten months there). On a previous trip to Xi'an, he had to rely on host family members for AliPay/WeChat payments, so he is looking for greater independence this time around.
The group he is going with will issue him a Chinese smartphone once he is in-country.
We read a bewildering array of suggestions and advice regarding the best way that foreigners in China can handle banking issues. One source says it's getting harder for foreigners to open a Chinese bank account, others say it is no problem with an X1 or X2 visa. We have not applied for the visa yet, so I am unsure what kind it will be. Last time they issued him an F visa.
We have a few HSBC branches around here, so he can go to a branch if necessary; he is now over 18, so technically an adult. Can the collective wisdom of the thread clue us in? Thanks in advance.
1. I think he should pass on their smart phone offer. As long as his non-Chinese phone is unlocked, it should work fine in China as long as it is unlocked. By bringing his own phone, he can preload with apps before his trip
2. Getting HSBC accounts in your country and China might be a good idea because international transfers are pretty easy
3. However, he shouldn't have any problem getting an account at a local bank (with a much bigger footprint) on a long term visa
4. Personally, I use Schwab (because fees are close to nonexistent across the board) in conjunction with ICBC; I almost never have to visit ICBC branches in person, and the same is true with other big banks
5. I will note that some ICBC ATMs dislike foreign cards; whenever I encounter this issue, I simply find an ATM that works to withdraw from, and then go back to ICBC to deposit it in a CDM
6. I am not plugging ICBC over other Chinese banks; the criteria should be major bank, works with Wechat/Alipay based on passport numbers, and will actually give him an account