Bank

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tms

Newbie

Joined: Jan 11, 2005
Posts: 1

Status: Offline

Posted: Jan 11, 2005 - 07:59 AM
Post subject: Bank

I am going to open an account in a local bank in Shanghai for my RMB currency for day to day use. I have been in contact with HSBC, but they can not offer an ATM card and they are telling me that I have to approach the bank to withdraw my money.

Do you now other banks in Shanghai where I can open an account with ATM card?

okido

Rocker

Joined: Sep 14, 2003
Posts: 667
Location: A planet called Earth
Status: Offline

Posted: Jan 11, 2005 - 08:07 AM

HSBC is not local bank. foreign banks are restricted from doing consumer banking. that's why HSBC does not have ATM machines.

Just bring your passport and go to any "local" bank - such as BOC and you will be able to open an account with ATM card. Choose a bank with ATM machine with convenient location for you. Cross-bank withdraw cost Rmb2.- per service. It's not much money but accumulated it can equal to a taxi ride a month.