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Q: Will my chase debit card be good in Beijing or should I switch to another bank?
I will be living in China for the next 3 moths and Want to make sure I have access to withdraw my cash from. I currently have Chase bank. Will I be ok or should I switch to another bank in order to avoid lots of charges?
8 years 15 weeks ago in Money & Banking - China
If you hate to pay fees for your own money (like I do), you should get Chinese bank account.
I'm not sure, if you can open Chinese bank account with short term visa, but probably you can.
Enter China with cash, or set up 'transfer funds (online)' on Chinese bank account, and move funds from there to here.
My favorite Chinese bank is China Merchant Bank with Gold account and Visa/Mc ATM card logo.
I guess, for 3 months any Chinese bank is OK.
Yes, but dont forget your pin and/or password. They will charge and exchange rate also. Better call them before you leave so they know you will be here for whatever time. It will make the transactions much easier.
Should be able to go to any. Bank atm ( HSBC, ABC , China Construction etc) and withdraw money , large enough sums are easy enough. Really for 3 months cash is all you need.
dont try any ATMs on the street , just might swallow your card.
It'll work but like others said the fees will be high. On the other hand if you just make a couple big withdrawals and anticipate your cash needs it's not going to bankrupt you.
For 3 months honestly it might not be worth it to go to the trouble of opening a chinese bank account and getting a card. If you're talking something like $20 in total fees for a few big withdrawals...that sucks but is it really worth $20 to spend half a day at a chinese bank?
Shame to waste money but you know...time is worth something too. up to you.
