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delasoul
Newbie
Joined: June 20, 2007
Posts: 7
Status: Offline
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 Posted:
June 23, 2007 - 11:53 PM |
 
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| Post subject: Banks in Shanghai... |
Hey, I'm back in Shanghai this summer, and would like to open a local account with a Bank. My needs are very basic; simply an account to deposit and withdraw money from by using a debit card. Can you guys advise me on this matter; perhaps recommend a bank, where I could get the quickest and most available service in Shanghai. Thanks =). |
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Adrienne
Rocker
Joined: Mar 01, 2003
Posts: 779
Location: Shanghai, China
Status: Offline
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June 24, 2007 - 02:06 AM |
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The banks with the largest amount of branches are the ICBC Bank, Bank of Shanghai and China Merchants Bank. They are all fine. If you want to do international transfers/money exchange etc. best to use Bank of China in a tourist/expat area like the Bund, Nanjing Rd or Hong Qiao as the tellers are more familiar with these kind of transactions.
Adrienne Farrelly
Shanghai Properties
http://www.shanghaiprops.com |
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Magnolia
Board Biatch
Joined: June 01, 2004
Posts: 31083
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June 24, 2007 - 06:02 AM |
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Almost every bank in China has horrible lines. If you can arrange to have your money direct deposited then use your ATM to withdraw funds you will save a lot of time. |
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BOYCOTT BENSON SALON |
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underh20
Shanghai Royalty
Joined: Sep 27, 2006
Posts: 9905
Location: EOA Seminar
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| Posted:
June 24, 2007 - 07:08 AM |
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| Post subject: Re: Banks in Shanghai... |
| delasoul wrote: |
| Hey, I'm back in Shanghai this summer, and would like to open a local account with a Bank. My needs are very basic; simply an account to deposit and withdraw money from by using a debit card. Can you guys advise me on this matter; perhaps recommend a bank, where I could get the quickest and most available service in Shanghai. Thanks =). |
Virtually no bank offers quick service. 
Your best bet is to pick a bank that is convenient to where you live, shop and work. You might think about ICBC. They have branches everywhere and they usually have at least two cash deposit machines in each branch so you can do basic withdrawls and deposits avoiding the long queues. |
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بارك الله ، بارك الله |
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shanghaiceltic
Board Royalty
Joined: Sep 20, 2005
Posts: 7618
Location: Perth WA
Status: Offline
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June 24, 2007 - 07:28 AM |
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Most of the Chinese bank services here suck, but BOC probably sucks the least and it has been pointed out that they are familiar with foreign currency exchanges and customers.
You might consider checking your ATM withdrawal limit and the charges. Balance that against what ot will cost you to transfer to a Chinese account and wait hours to get it out.
If it is a decent one then use that. Many ATM's here take foreign cards and there is no queuing or the need to show your passport for each transaction. |
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I have parrallel bars at home, one for gin and one for whiskey |
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latina
Ranter
Joined: Aug 24, 2006
Posts: 580
Status: Offline
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June 24, 2007 - 09:44 AM |
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Yes, better to have your money transfer directly to your personal bank account at home. I have an account in BOC and i must say is horrible, so long queues every time, staff works incredibly slowwwwwwwwwwly. I think i will open a new account with ICBC instead of keeping my currently with BOC. But what about BOShanghai? i have seen many branches close to my home. Does BOS has a Zhifubao account system? |
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