China (CN)

Monthly fee: CNY 0/month for basic account; annual UnionPay card fee CNY 10–20; premium accounts with multi-currency card higher

Requirements: Passport, valid residence permit (居留许可) or long-term visa, Chinese phone number (SIM registered in your name), proof of local address (hotel registration or employer/landlord letter), employer appointment letter. Some branches also request tax registration or social security number. In-person branch visit required.

• + The most foreigner-friendly of the major Chinese state banks — designated "foreigner-service" windows at major branches
• + International transaction experience — best SWIFT and overseas remittance capabilities among state banks
• + English-language online banking and customer service at international branches in Shanghai, Beijing, Guangzhou
• + Multi-currency accounts (CNY, USD, EUR, HKD) available
• + Reliable Alipay and WeChat Pay bank card linking
• + Bank of China Great Wall international card accepted outside China

• - Branch-by-branch discretion — what one branch accepts, another may refuse for short-visa applicants
• - Queue times at busy urban branches can be 60–90 minutes without appointment
• - Outbound international transfer documentation requirements are strict (see below)

Monthly fee: CNY 0/month for basic account; annual card fee CNY 10; dormancy management fee may apply if balance is very low with no transactions

Requirements: Passport, valid residence permit or business visa, Chinese phone number, local address proof, employment documents. ICBC is China's largest bank with the most branches and ATMs nationwide.

• + Largest bank in China — the most ATMs and branches of any institution, including smaller cities
• + ICBC Mobile app (工银融e联) is one of the most feature-rich domestic banking apps
• + Strong domestic payment ecosystem — widely used for salary, tax, and utility payments
• + UnionPay card works at ATMs and merchants across all provinces

• - Minimal English support — bring a Chinese-speaking colleague to branch visit
• - International transfer service (SWIFT) available but paperwork-intensive
• - App and online banking are Chinese-only

Monthly fee: CNY 0/month for standard account; annual card fee CNY 0–20 depending on card tier; CMB All-In-One Card is popular

Requirements: Passport, valid residence permit, Chinese phone number, local address proof, employment letter. CMB is a joint-stock commercial bank (not state-owned) with a reputation for the best retail banking app in China.

• + Best mobile banking app (CMB Life/招商银行 app) by wide consensus — excellent for domestic transfers, investment, and wealth management
• + Expat-friendly at branches in Tier 1 cities (Shanghai Lujiazui, Beijing Guomao, Shenzhen)
• + CMB All-In-One Card (一卡通) widely accepted for payroll, Alipay, and WeChat linking
• + Better English support at flagship branches than ICBC or CCB
• + Visa card options available for international purchases

• - Not every branch opens accounts for foreigners — contact your nearest branch before visiting
• - Smaller national ATM network than ICBC or Bank of China
• - International transfer via SWIFT requires documentation and in-branch approval for larger amounts

Monthly fee: CNY 0/month for basic accounts; annual card fee CNY 10; similar fee structure to ICBC

Requirements: Passport, valid residence permit, Chinese phone number, local address proof, employment or income documentation. Second-largest Chinese bank by assets.

• + Second-largest bank in China — wide branch and ATM coverage particularly strong in smaller Tier 2/3 cities
• + CCB mobile app (建行生活) supports standard domestic transfers, utility payments, and card management
• + Good for expats working in manufacturing, construction, or infrastructure sectors where CCB employer relationships are common
• + UnionPay debit card for all domestic payments and ATMs

• - Chinese-only service — English support rare outside flagship branches
• - International transfers and SWIFT documentation process same as other state banks
• - App and online banking not available in English

Monthly fee: HSBC Premier: CNY 0/month if monthly income ≥ CNY 50,000 credited or CNY 500,000+ total assets held; otherwise CNY 150/month service fee; standard accounts available at lower thresholds

Requirements: Passport, valid residence permit, Chinese phone number, proof of address, employment letter, income evidence, source-of-funds documentation. HSBC Premier has specific income or asset eligibility requirements. In-person appointment at HSBC China branch required.

• + Best English-language banking experience in China — full English app, website, and customer service
• + Ideal for expats in multinational finance, professional services, or management roles
• + Cross-border banking between HSBC China and HSBC accounts in UK, UAE, Hong Kong, Singapore
• + HSBC Global Money account for currency transfers between HSBC territories
• + Full Alipay and WeChat Pay linking — plus Visa credit card options

• - High income or asset thresholds for Premier — monthly fee if not met
• - Fewer branches and ATMs than state banks; primarily in Tier 1 cities
• - Outbound international transfers still require source-of-funds documentation under Chinese FX rules
• - Less useful for everyday domestic payments than a state bank account alongside it