Opening a Chinese bank account

Prepare your arrival

New banking regulations mean that students who want to open a Chinese bank account now need to do this by themselves. It is a relatively simple and quick process. You need the following:

  • Original passport
  • Student ID Card or Admission Notice
  • Chinese SIM card number
  • Tax payer code
  • Minimum deposit of around RMB 10-50.

Regarding the tax payer code, it could be:

  • TFN in Australia
  • Tax Identification Numbers in Canada, France and Germany
  • Individual Numbers in Japan
  • INN in Russia
  • NRIC or FIN in Singapore
  • Residence Registration Number in South Korea
  • UTR or NINO (National Insurance Number) in the UK
  • SSN in the USA.

This number may have been assigned by your government at your birth. If you are not sure of your tax payer code, please check with the bureau governing tax in your home country.