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Posts: 19790

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Q: Is FT required to use the same Bank as School?

My School is using ICBC, and I want my salary deposited at another Bank. Am I required to comply with School's wish? Anybody has any experience with that?

 

I have never had problems with salary deposits to the Chinese Bank of my choice. Currently, I work in the Public School, and I'm unable to use ICBC, because nobody at the Bank speaks English. Chinese teachers want to help me with dealings at ICBC, but my bank account is private matter, and I don't want anybody see my balance, and other things.

 

School told me, they must pay fee, if they'll deposit my salary to another Bank. I agreed, and offer them to cover the fee. 

When I asked at my Bank, reply was: 'School doesn't need to pay any fees, if they deposit your salary at our Bank!'

10 years 1 week ago in  Money & Banking - China

 
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Posts: 3837

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if you have an account open in a particular bank and supply your school with the account and branch number and details, it should be paid in no problem, and with no need of anyone going to the bank with you.

 

this talk of 'fees' is nonsense, it could be just laziness on the part of your school.

icnif77:

It's is so big problem/nonsense, that I told them I won't extend our Contract in April 2014, and will look for job elsewhere.

 

I live in Fukang, city of some 5 000 residents. School said, 'we cannot deposit salary to CMB, because there's no CMB branch in Fukang'. 

10 years 1 week ago
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sorrel:

do they have to physically walk to the bank, cash in hand, to put it into each employees account?? 

 

this is the 21st century, i am sure they don't do that, so why all the fuss from them?

 

there is probably some 'arrangement' with the particular bank they insist you use.

 

10 years 1 week ago
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icnif77:

Nonsense! I'll contact SAFEA on that matter!

 

CMB almost granted me CC, one of the conditions was 'salary must be deposited to CMB'.

I hold Gold account with Visa logo at CMB. I can use CMB card anywhere (in the world), where Visa logo is honoured. Foreign currency exchange rate at CMB is the lowest in the World! However, my salary must be deposited there! I'm thinking, School's accountant receives kickbacks from ICBC.

10 years 1 week ago
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10 years 1 week ago
 
Posts: 7715

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The school could be charged fees for transferring money to a different bank. TIC!!

 

Can they 'force' you? Depends on your definition of the word.

icnif77:

I should say, 'must I comply, or I can tell them I'm using different bank, and I want my pay to be deposited there'? I have two messages in Chinese for closing ICBC account! I wanted to get opinion on the matter, before I head to ICBC. Chinese teachers are all telling me, not to close ICBC account. TIC = problem arised, because I have 1000 Rmb extra on ICBC account. I don't know, who made deposit. I did't receive salary for Feb. yet. I'm not sure, did school deposit 1000 Rmb as my Feb. salary, or what. By the Contract, I must receive full salary for Feb., despite I worked only last week in Feb.

 

10 years 1 week ago
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Shining_brow:

I'd say - stick to your guns. There's no real reason they can't deposit into your bank... just laziness on their behalf.

10 years 1 week ago
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icnif77:

I closed ICBC account this morning. 

 

I had another problem with running water. I was without running water since Sunday morning. School didn't pay water bill, and.......I paid 720 Rmb to Water Utility Co. in the morning. I didn't know, how to make water running again, so I called Chinese teachers to help me with that. All phones are disconnected! 

I have Chinese friend, fluent in English, who wanted to translate my message to the Principal. School's teachers gave me her ph. no., but my friend was unsuccessful, because Principal wouldn't pick-up her phone!

I guess, ICBC informed School I closed my account. Next, call to SAFEA tomorrow!

10 years 6 days ago
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10 years 1 week ago
 
Posts: 416

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I've been asked before to open an account with the same Bank my company used. I did it just because it's really easy to open an account here, rather than them giving me all this BS about this bank and that bank and why they can't use x, y and z bank. Now I use my one bank account for daily costs and the other for savings. worked out well in the end. 

icnif77:

ICBC doesn't work well for me! I feel intimidated with School's request to use that bank.

10 years 1 week ago
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Nessquick:

I have now ICBC and works well, but is freaky expensive ! as back home :9 where are the times of free services in china banks ? :D

 

10 years 1 week ago
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icnif77:

I opened account at ICBC in the city center. If I withdraw money from ICBC ATM close to my flat (250m away from the city center), ICBC charge me 20 Rmb. Ridiculous!

 

I don't have problems to pay fee, when Bank gives me credit, but I never ever pay fee for using my own money!

10 years 1 week ago
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brother1818:

Ya that's a bit of a bitch. I ended up using my ICBC as my savings bank and haven't actually withdrawn from it yet. My daily bank is Bank of China and have had no problems with them. Don't even know if they take a withdrawal fee. I just know that once a month they take 2 RMB out of my account, I guess this is some kind of service fee. 

10 years 1 week ago
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10 years 1 week ago
 
Posts: 2310

Shifu

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It is for their convenience. If you have same bank as them, they just simple click 2 or 3 times and your salary is on the way. If you have different bank, they need to fill in also your bank physical address and more details, which make the process much longer, sometimes need 3 times repeat to successful transfer..

 

My previous company have changed bank 3times within my 2,5 years there. My actual company have struggled to transfer money to my old CCB account, while from my own other bank account I can send money. So it is really troubles here. 

 

 Back home, I go to bank with bank name, acc. no. and receiver name is no needed always, and money. that's enough. Here, it takes at least  10 minutes to fill all the unnecessary BS info. First years here it tooks a lot of my nerves and several repeated trips to bank for transfering goods payment. 

icnif77:

I agree, it might be more complicated for School to move funds to another bank. But, this apply only at the first time deposit.

I'm almost convinced, that is my free will which bank I want to use. I'm 1st FT at the School, so they feed me with unusual stuff all the time!

 

School is required by Contract to pay utility bills. Water got disconnected yesterday, because 'accountant is busy', and she didn't pay water bill.

Headmaster: 'You didn't come for the class this afternoon????'

Me: 'I don't hold my classes, if I can't take shower and shave before the class! If no water by this afternoon, I'll book into the Hotel, and will give Hotel's 'fapiao' to the School for refund!'

 

I'll feed them back!

10 years 1 week ago
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Nessquick:

good way ;)

and good luck with them. take it easy. feed them with their own food, and you win

10 years 1 week ago
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icnif77:

I have an excellent conditions here:

- 90m2 apartment with garden (School planned to fit 2 FT in, but they didn't write 'flat share' in the Contract);

- low working hours (10 h/week), and relatively high salary;

- 2x 1/2 salaries in 3M holidays per year;

-  I can work at another School, if I'm not late for classes at my prime job;

- I got part-time job last week (some 10 h on weekends);

- School's students are really enjoyment to work with;

- all School's bosses are very happy with my work (and behavior);

 

I really don't want to move, but I blasted last Friday, when they fed me with that salary deposit nonsense.

10 years 1 week ago
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10 years 1 week ago
 
Posts: 3868

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I've had this now with the 2 manufacturing companies I've work for in China. 

 

1st in Zhongshan would only pay salaries into the local bank of China. So they helped me open an account there......because the finance guy walked there once a month to pay salaries!

 

Then I changed jobs & moved to Guangzhou. They would also only pay my salary into a bank of China account but this time it could be any branch in Guangzhou but not my existing account in Zhongshan. The reason was that they got charged a fee to transfer in between accounts in different cities! 

 

Neither company would pay into any other bank as it would cost them a fee each time & extra paperwork to set up the paynent. 

 

In the UK your salary can be paid into ANY UK bank with only the account details & bank branch "sort code". 

icnif77:

But, as soon as I offered to cover transfer fee, School found another reason, why not deposit salary in bank out of the city! 

10 years 1 week ago
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Hotwater:

I think basically because they don't want any extra work above the minimum they need to do! So even when you find a way around the problem they find another excuse not to do it. I gave up with trying to get my Guangzhou salary paid into my Zhongshan bank account.....I now transfer spare money there and use it as a savings account.

10 years 1 week ago
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10 years 1 week ago
 
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ICBC has an excellent net bank interface (in English) that allows you to transfer your salary to a bank of your choosing as the money arrives. As fees might apply you can also do what we sometimes do. Go down to one bank, ask the nice ATM to barf up a wad of cash, go 100 meters down the street and make another ATM munch down the cash. This can easily be combined with getting and drinking beer.

icnif77:

ICBC gave me choice of fee at opening an account: 20 Rmb or better account for 70 Rmb.

Of course, I didn't choose better account, and probably I can't use transfer feature. 

I asked ICBC for balance sheet print (with Chinese teacher) today. I received slip in Chinese, where I can see only my withdrawals, but not deposits.

By my account, I have 1000 Rmb extra on the account. I'm sure of that, because I intend to close my account as soon as I'll spend balance (80 Rmb) in the Supermarket. 10 days ago, balance on the account was 1080 Rmb. I cannot find out, who deposited 1000 Rmb.

10 years 1 week ago
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Scandinavian:

so you didn't get net banking and a dongle that allows you to transfer funds from home ? 

10 years 1 week ago
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icnif77:

I'm not paying 70 Rmb to open an account! Bank should give me reward, because they'll receive my funds!

10 years 1 week ago
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Scandinavian:

Conceptually I agree, but TIC where banks are owned by the gubbermint and all your funds are reinvested in dodgy estate projects and the day the economy collapses you will have nothing. 

10 years 1 week ago
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Nessquick:

That's why I do now on every salary get part of it, exchange to 500 Eur in cash. and stack in pillow. when the dooms day come, I will have at least something ...

10 years 1 week ago
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Shining_brow:

And after doomsday, you'll find that your nice soft toilet paper has much greater value than all those Euros you've saved up :p

10 years 6 days ago
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icnif77:

 @shining

10 years 6 days ago
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Scandinavian:

I find the 500 Euro notes more gentle on the buttocks than the 100 Euro notes. 

10 years 6 days ago
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10 years 1 week ago
 
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School successfully posted salary for March and remainder February's salary to my CMB account yesterday!

 

I'm not sure, was it because of SAFEA's intervention, or was it just because of my request. I will not open new Bank account ever again, if School will request it. I hold only CMB account.

 

End of the story: 'School told me, 'no new Contract', despite their earlier promises. As it looks, Government doesn't subsidize FT in the city anymore. 

None of FT in Fuk. will extend Contract.

There are 3 new FT from Philippines in the city, working for 30% lower wages as we did.'

juanisaac:

Yes, the school does require you to have the same account as the other teachers.  They will set one up for you if you do not have one.  Imagine having to pay 200 teachers at one bank and then just one at another.  Besides, you can always ask the school for cash.

As to Fukang, the Chinese schools are cutting corners again.  I have met very good Filipino teachers.  But the thing is the students will be learning to undertand Filipino- English, and believe me that can be hard even for a native speaker. Imagine the Chinese children.  Why pay 8k when you can pay 5k.  

9 years 49 weeks ago
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icnif77:

It wasn't such a big deal at all to deposit salary at another Bank. Accountant did it in two days.

 

The cheaper FT is 'cutting corners' big deal. I don't judge Philippines English teachers as less worthy. I'm not sure about 'no Gov. grants in the city'. They might still get it, but they pay much less for FT, so more 'profit' for the School.

Chinese English teachers seem happy, because of 'no more proper English speaker at the School'. I would also be 'annoyed', if I would teach Chinese at Western School, and have Chinese Native speaker as teacher there.

Despite 'no Contract extension', I am happy! I didn't come to China to take, but to give, so as they want.

9 years 49 weeks ago
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9 years 49 weeks ago
 
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