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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. 

6 years 31 weeks ago in  Money & Banking - China

 
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Just put there enough money Smile Its almost every chinese bank here, I have checked before. But for online purchasing in china , no need to have visa card. 

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6 years 31 weeks ago
 
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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.

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6 years 31 weeks ago
 
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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..

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6 years 30 weeks ago
 
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I've found China Everbright is pretty good

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6 years 30 weeks ago
 
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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.

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6 years 30 weeks ago
 
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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.

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6 years 27 weeks ago
 
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I was told 30rmb charge, I also didn't need to put any money in to open the account.

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6 years 24 weeks ago
 
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@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.

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6 years 24 weeks ago
 
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