China is still, for the most part, a cash society although the use of credit cards is becoming a little more common in the big cities. As an ESL teacher working in China you often get paid in cash so having a bank account is critical. I was very surprised the first time I was called into the accounting office to receive my month’s salary, doled out in 100 RMB notes and counted with an abacus. This is not a joke by the way.
That said, it is probably a good idea to open a bank account rather than stuff your monthly paycheck into your mattress. In order to open a bank account in China you will need your passport. It is possible open a bank account before you get your permanent resident status. In fact I opened an account even though I initially only had an L visa.
When you go to open a bank account be sure to have the following things:
- your passport
- your teaching contract
- someone with you from your school or a native Chinese speaker
- patience
Opening a bank account really is a simple exercise. Just be patient and things will fall into place.
Once you have your bank account, be sure to get a bank card. This will make life a lot easier especially when traveling in China. You will need to pay for your travel in cash (including deposits on hotel rooms) so having access to your account is paramount. Note that the maximum daily ATM withdrawal is 2100 RMB.
Credit cards are somewhat more acceptable but mainly restricted to the larger cities, such as Beijing and Shanghai. I have drawn money out on my MasterCard from an ATM machine; great if you run out of cash and your bank account is dry.
| < Prev |
|---|
