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Q: Laowai friendly Bank in China
China Merchants Bank issued me Gold Bank card with Visa logo today. Card is valid 3 years, and it comes with USB memory stick for online purchases.
I open China Merchants Bank account two weeks ago, with 1000 Rmb deposit.
As I can see today, 'weak' part of Merchants Bank Visa Gold Bank card is: 'account balance shouldn't be lower than 50 000 Rmb, with penalty of 50 Rmb per month, if account balance is lower than 50 000 Rmb'.
However, this is also standard fee at some Western Bank accounts.
11 years 18 weeks ago in Money & Banking - China
Just put there enough money 
Its almost every chinese bank here, I have checked before. But for online purchasing in china , no need to have visa card.
icnif77:
Can you pay your Skype account with Chinese Bank card with UnionPay logo? No!
I cannot use Chinese Bank card with UnionPay 'only' logo on any Western website. All Western websites require Visa or MasterCard logo.
Whatever website (Chinese), where Bank Card with UnionPay logo is acceptable, I cannot read Chinese.
I didn't use phone service at Skype for more than 2 years, because I cannot fund my account with Bank card without Visa or MC logo.
Today's Chinese Visa card is absolute relieve for me.
Nessquick:
I never tried it, as i find it so complicated. I paid it from Czech, ask my bro to charge my skype acc. maybe i will have a try use my online banking to charge skype and let you know.
I got acc on CCB , using for internet banking and occasional receive of USD from abroad , than my wife have ABC card to store money for future, and EB - Everbright acc to receive salary from my work :-) before I've got BOC cards, but it was most troublefull acc i ever had :D
Re icnif above and China Merchants Bank, thanks very much for the info. China Merchant's Bank is not a strong national bank, however, and it is not presented in many cities and provinces but your advice is good, thanks.
Re not using Skype for two years, you can buy Skype credit through www.taobao.com using an ordinary online wand available from nearly all banks. It will work with Skype as well.
icnif77:
Thanks 98, for Skype funding ways.
If everything works well with my new Visa Gold Merchants Bank, I am 'happy banking man' today!
By the way, correct name of my favorite small Bank is 'China Merchants Bank', hahahaha
I prefer ICBC as it is famous for lower charges or no charges..it is famous among Students and Govt. Employees..It is a common man bank..
icnif77:
Can you get Visa logo ATM Card with ICBC?
I have never held account with ICBC, so I am not sure what kind of perks you can get with.
I have best experience with China Everbright Bank and China Merchants Bank, last one got me Visa card this morning.
Today, I am happy man in China!
China Merchants Bank issued me gold mastercard, and I was told from clerks it is gonna be 10Y penalty if average sum is below 50k.
icnif77:
'10 Rmb penalty' cannot be called 'penalty'! More like 'Bank joke'!
When Merchants Bank clerk told me about 50 Rmb monthly penalty for lower than 50 000 Rmb balance on my Gold Visa account, I was guessing she'll come back, and correct herself as she made mistake, and real penalty for lower balance is most likely 500 Rmb, or 1%.
JohnyCool:
Can u recheck with the bank, as 1% (500Y) is huge amount to pay for this.
Several clerks told me that for gold mastercard "penalty" for below 50k is 10Y.
icnif77:
500 Rmb (1%) was just my guess! Chinese like to make 'mistakes', and then blame it on poor English! As far as I know, I will pay 50 Rmb monthly fee, if account balance is lower than 50 000 Rmb.
However, 1% surcharge would be completely normal in any Western Bank.
JohnyCool:
Ah ok, as I was told in the bank (after asking it for several times) by 3 different people that it will be only 10Y, for mastercard that is.
Merchants Bank Gold Visa card comes with USB stick for online purchases. Merchants Bank has website in Chinese and English, butt...............English version website doesn't support 'entering password', and use card for online purchases.
Online purchase is possible only on Chinese version website! With Chinese translator present, possibly.
I opened Gold card with 1000 Rmb deposit. Bank clerk assured me, both cards, Visa or MC have 50 Rmb monthly fee, if balance is lower than 50 000 Rmb.
I was told 30rmb charge, I also didn't need to put any money in to open the account.
@jelly: I enter CMB with 1000 Rmb cash to deposit,and open new account. They showed me Gold Visa or Gold MC Card.
I rarely come to the Bank window without cash. CMB didn't require to deposit 1000 Rmb.
