Banks and payments
Opening a bank account
​​​
Foreigners are required to fulfil a number of conditions to open an account at the most important banks in China, e.g. Industrial and Commercial Bank of China (ICBC) oe China Construction Bank (CCB), which mainly relate to proof of identity, residence permits, proof of income, and any other supporting documents that may be required.
​​
Proof of Identity
Foreigners must provide an original passport within the validity period to serve as the main identification document. The passport is an important document for confirming one's identity and eligibility for international travel, and banks will rely on the information in the passport for identity verification.
​
Residence Permit
If a foreigner resides in China for more than a certain period of time (usually more than six months), he/she is required to provide proof of a valid residence permit, such as a work visa or residence permit. These documents are used to confirm the foreigner's legal residence status in China.
Proof of Income
Although not all banks strictly require proof of income, some banks may require foreigners to provide proof of legal source of income, such as salary slips, tax statements, bank streams, etc. These documents are used to prove the foreigner's economic status in China and the legality of the source of funds.
Proof of Address
Some banks may require proof of residential address, such as rental contract, utility bill, etc. to ensure smooth communication between the bank and the foreigner.
​
Proof of employment
If the foreigner is working in China, some banks may require proof of employment or proof of employer to confirm his/her occupational status and job stability.
Account Opening Process
-
According to personal needs and convenience, choose a suitable bank to open an account.
-
Prepare all necessary proof of identity, residence permit, proof of income and other supporting documents as required by the bank.
-
Submit the documents in person at the bank counter or designated account opening branch.
-
Fill in the account opening application form and sign the relevant agreement under the guidance of the bank staff.
-
The bank will audit the submitted materials and open the corresponding bank account for the foreigner after passing the audit.
​
The specific requirements and procedures for foreigners to open accounts may vary from bank to bank, so it is recommended to consult the specific regulations and requirements of the chosen bank.
​​​
​​​​​​
​​​​​​​​​​​​​Payments with Alipay
​​​​
Foreigners without a Chinese bank account can still use Alipay to make payments by setting up Alipay and binding an overseas bank card to Alipay. Below you can find the detailed steps and the instructions.
Download and register Alipay
Download Alipay App: Foreigners can search for "Alipay" in mobile phone application shops (e.g. App Store, Google Play, etc.) and download and install it.
​
Register for an Alipay account
After opening the Alipay app, follow the prompts to select "Register a new account" and then enter your mobile phone number to register. It is important to note that although a mobile phone number is required for registration, it is not mandatory to use a Chinese mobile phone number to bind a bank card or make payments with Alipay.
Binding overseas bank cards
Alipay currently supports mainstream overseas bank card organizations issued by bank cards, such as Visa, Mastercard, Diners Club, Discover and so on. Specific supported bank card types can be viewed in Alipay App.
Procedure to bind the bank card
In Alipay App, find "My Account”, then click "Bank Card" option. In the bank card management page, select "Add Bank Card", and then follow the prompts to enter the bank card number, cardholder's name, ID number (such as passport number) and other information to bind.
Using Alipay Payment
At the merchants and shops that support Alipay payment, open Alipay App, select the "Payment" function, and then show the payment code to the merchant for scanning, or scan the merchant's payment code for payment. When you make the payment, Alipay will automatically deduct the corresponding amount from the bonded overseas bank card.
Caution
Ensure that the bound overseas bank card has sufficient balance or credit limit so that the transaction can be completed smoothly when making the payment. If you encounter payment problems or need advice, you can contact Alipay customer service or bank customer service to solve the problem.
Real-name authentication
Although a Bank of China account is not required to register for Alipay, Alipay may require users to carry out real-name authentication to improve account security and ease of use. For real-name authentication, you need to provide valid identification documents (e.g. passport) and contact information.
Transaction Limit
For Alipay accounts bound to foreign bank cards, there may be restrictions on transaction limits. Specific limits can be viewed in the Alipay App or consult Alipay customer service.
Handling Fee
When you use a foreign bank card to make transactions on Alipay, you may incur a certain handling fee. The specific handling fee standard can be viewed in Alipay App or consult the bank's customer service.
​​
​​​​​Setting-up WeChat without bank account
​
Even without a Chinese bank account, foreigners can still use WeChat Pay in China. Below you can find the detailed steps and the relevant instructions.
Download and Register for a WeChat account
First, foreigners need to download and install WeChat app on their mobile phones. After opening the WeChat app, choose to register a new account. You can use a foreign mobile phone number to register, or you can register by other means (such as email), but it is usually more convenient and direct to use a mobile phone number to register.
​
Bind an international bank card
In order to use WeChat Pay in China, foreigners need to bind their international bank cards (e.g. Visa, Mastercard, JCB, etc.) to WeChat. The following are the specific steps.
-
Update the WeChat app: make sure the WeChat app has been updated to the latest version in order to support the latest payment features.
-
Go to Payment Settings: Open WeChat, click on "Me" in the bottom right corner, and then go to the "Payment" option.
-
Add bank card: In the payment interface, select "Wallet", then click "Bank Card" and select "Add Bank Card".
-
Enter card information: Follow the prompts to enter the card number, cardholder's name, ID number (e.g. passport number), and the mobile phone number reserved by the bank (this mobile phone number can be foreign, but it needs to be able to receive SMS verification code).
-
Verify Identity: Enter the SMS verification code sent by the bank to verify the authenticity of the card and identity information.
-
Set a payment password: In order to protect payment security, you need to set a 6-digit payment password.
​
Using WeChat Payment
Once the bank card is successfully bound to WeChat, foreigners can use WeChat Pay in China. Whether it is offline code payment or online shopping, you can use WeChat Pay as conveniently as Chinese users. Open WeChat Pay and then show the payment code to the merchant for scanning, or scan the merchant's payment code for payment.
Precautions
-
Payment Limit: according to WeChat's regulations, different payment limits may apply to different bank card types and payment methods. The exact limit can be found in the help centre of WeChat Pay.
-
​Security: in order to protect the safety of your funds, it is recommended that you remain vigilant when using WeChat Pay and do not transfer money or disclose personal information to strangers.
-
Exchange Rate Issues: if the bank card is a foreign currency card, WeChat Payment will be converted according to the exchange rate of the day.
​​​​​
Transferring money abroad
​​
Transferring money abroad as a foreigner working in China involves specific procedures and adherence to China's financial regulations.
Procedures to Transfer Money Abroad
-
Choose a Transfer Method:
-
Bank Transfer: You can use any Chinese bank such as ICBC, Bank of China, or China Construction Bank.
-
International Money Transfer Services: For example Western Union or MoneyGram.
-
Online Transfer Services: For example, platforms like PayPal or Wise.
-
-
Gather Necessary Documents:
-
Proof of Income: Employment contract, salary slips, and tax payment receipts.
-
Identification: Passport, Chinese visa, and work permit.
-
Bank Statements: Recent statements showing your salary deposits.
-
Recipient Details: Recipient’s bank account information, including SWIFT/BIC code and IBAN.
-
-
Visit Your Bank or Transfer Service Provider:
-
For banks, you’ll typically need to go in person, especially for your first transfer.
-
For online services, follow their specific procedures.
-
-
Complete Transfer Forms:
-
Fill out the international transfer form provided by the bank or transfer service. Include all required information about the recipient and the amount to be transferred.
-
-
Currency Exchange:
-
Convert RMB to the destination currency. Banks will handle this and provide the exchange rate.
-
-
Submit Documents and Pay Fees:
-
Provide all required documents and pay any associated fees. Fees can include transfer fees and currency conversion fees.
-
-
Wait for Transfer Completion:
-
Transfers can take a few days to complete. The bank or service will provide a reference number for tracking.
-
Limitations and Regulations
-
Annual Transfer Limit:
-
China imposes an annual limit on the amount of foreign currency that can be transferred abroad by individuals. As of 2025, this limit is USD 50,000 per person per year.
-
-
Monthly Transfer Limit:
-
Some banks may have additional monthly limits on the amount that can be transferred abroad.
-
-
Documentation Requirements:
-
You must provide proof of the source of funds, such as salary slips and tax receipts, to comply with anti-money laundering regulations.
-
-
Tax Compliance:
-
Ensure that taxes on your income have been paid in China. Banks require proof of tax compliance before processing large transfers.
-
-
Exchange Control Regulations:
-
Foreign exchange purchases must be registered with the State Administration of Foreign Exchange (SAFE). Banks handle this registration during the transfer process.
-
-
Transaction Fees:
-
Be aware of the transaction fees charged by banks and transfer services, which can vary.
-
​
Tips for smooth transfers:
-
Be aware of the limits and plan your transfers to avoid delays or issues.
-
Maintain copies of all documents submitted and received for future reference.
-
Ensure you use established and reliable banks or transfer services to avoid potential fraud.
​​​​​​
Transferring salary abroad
​​​​
Transferring money from China to another country as a foreigner who works and receives a salary in China involves a few steps and requires specific documentation due to the country's strict currency controls. You can transfer money through Chinese banks like ICBC, Bank of China, China Construction Bank, or any other major bank where you have an account.
​​​
General Requirements and Documents:
1. Proof of Income:
-
Employment Contract in order to show the source of your income.
-
Salary Slips in order to verify your earnings.
-
Tax Payment Receipts to prove that you have paid taxes on your income.
​
2. Identification:
-
Passport: Your valid passport with your Chinese visa.
-
Work Permit: Your valid work permit in China.
-
Bank Account Details: Details of the Chinese bank account where your salary is deposited.
​
3. Transfer Application Form:
-
Fill out the bank’s application form for international transfers. This will include details of the recipient bank and account overseas.
​
4. Bank Statements:
-
Recent bank statements to show the flow of your salary into your account.
​
5. Recipient Details:
-
Recipient’s Bank Account Information, including the SWIFT/BIC code and IBAN (if applicable) of the recipient’s bank.
-
Recipient’s Full Name and Address.
Procedures:
1. Visit Your Bank:
-
Go to the branch of your bank with the required documents. It is often necessary to make these transfers in person, especially the first time.
​
2. Complete the Application:
-
Fill out the international transfer form with all necessary details. Bank staff will guide you through the process if needed.
​
3. Submit Documents:
-
Provide all the required documents to the bank staff for verification.
​
4. Currency Exchange:
-
Your Chinese RMB will need to be converted into the currency of the destination country. The bank will handle the currency exchange, and you should be aware of the exchange rate and any associated fees.
​
5. Pay Transfer Fees:
-
There are typically fees for international transfers, which can vary by bank. Ensure you understand the fee structure.
​
6. Wait for Transfer Completion:
-
The transfer may take a few days to complete. The bank should provide you with a reference number or receipt for tracking purposes.
​
Tips:
-
Be aware of any limitations on the amount you can transfer and how often you can make transfers.
-
Some banks offer services specifically for expatriates and may have dedicated staff to help with international transfers.
-
Ensure you are in compliance with both Chinese tax laws and the tax laws of your home country regarding foreign income and transfers.
​​​​​​​​
Opening a bank account as tourist
​​
​​If foreigners traveling in China want to open a Chinese bank account, they need to meet the following conditions and provide the relevant documents,
​
Basic conditions and documents
-
Valid passport: Foreigners must provide a valid passport as proof of identity. This is a must for opening an account, because the bank needs to verify the customer's identity information through the passport.
-
Residence Permit (depending on the situation): Although a residence permit may not be required for foreigners traveling for a short period of time, some banks may require proof of the type and validity of the visa and other relevant certificates to ensure that the customer meets the requirements for opening an account. In particular, when the visa type is non-short-term (e.g. business, family visit, etc. over a certain period of time), a residence permit or related proof of entry documents may be required.
Additional documents that may be required
-
Auxiliary identity documents: Depending on the bank's specific requirements, foreigners may need to provide additional auxiliary identity documents, such as motor vehicle driver's license, proof of address in China, etc. However, these documents are usually not necessary for short-term travelers. However, these documents are usually not required for foreigners traveling for a short period of time.
-
Account opening application form: Foreigners are required to fill out and submit the bank's account opening application form, which will ask for basic personal information, contact information and so on.
​
Important issues:
-
Bank selection: There are many banks in China, and the specific requirements and procedures for foreigners to open an account may vary from bank to bank. Therefore, before opening an account, foreigners are advised to consult the specific regulations and requirements of the bank of their choice.
-
Anti-Money Laundering Regulations: Chinese banks will strictly abide by the Anti-Money Laundering Law of the People's Republic of China and other laws and regulations during the account opening process, and will maintain confidentiality and verification of the customer's identity data and transaction information. Therefore, foreigners are required to provide true and effective identification documents and fill in relevant information.
-
Foreign exchange regulations: Although foreigners traveling for a short period of time may not need to open a foreign exchange account, if they have relevant needs, they need to comply with China's foreign exchange regulations and provide relevant supporting documents and fill in the corresponding application forms according to the bank's requirements.​
​
The specific process
-
First, consult the specific account opening requirements and procedures of the selected bank, and prepare the required identification materials and supporting materials.
-
Go to the bank and bring the prepared materials to the bank counter or designated account opening branch.
-
Fill in the account opening application form under the guidance of bank staff and submit relevant materials.
-
The bank will audit the submitted materials and may conduct identity verification and background check. After passing the audit, the bank will open an account for the foreigner and provide relevant bank cards and internet banking services, etc.​