Question

Asked by Steve from cambodia | Feb. 02, 2015 11:34

About:China Bank Acount, Credit Card, Traveler's Cheque

On March I want to travel to China with my friend for holiday and to open a bank account.

I mostly bought stuff on taobao but since I'm not a Chinese resident I have to let my friend pay for me every time and pay them back later which is quite inconvenient. So I was wondering if I'm allow to open an account there with ACBC bank. My friend also said once we open they will also hand us device for which wen u spend a lot of money or online transaction it will use for the confirmation code. Will it work oversea if I take it back to Cambodia. For the recharge money, there a ACBC branch in Cambodia so I have no problem with recharge my money here. Hope this clear~

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Answers (3)

Answered by Ruby | Feb. 03, 2015 01:08

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Steve, you can open an account with your passport at the banks. However, you should know that it's a debit card. It means that you need to deposit money in your acount and then you can use it to pay. By the way, it's very difficult for foreigners to apply Chinese credit cards.

If you plan to use it abroad, you'd better open online payment function when you open your account. But it's still inconvenient to use it abroad because you need to wire money from your bank account opened in your country to your Chinese account every time you run out of money. You will be required to pay a service charge.

Don't Taobao accept international credit cards? According to what I know, Alibaba and other websites accept payment made by interntional credit cards.

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Answered by Steve | Feb. 03, 2015 10:46

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Hi yes I want a debit card. I'm clearly aware of the difference between credit and debit card. With the Visa card one the charge is too much 4% from my side and 4% from the seller. Clearly I will have to pay the 4% from the seller as well. Which total up to 8% of the payment. Basically my wife owning an online business which require daily purchase sometime up to 3000$ so 8% from
That she will not earn much.

However if I were to open an account there locally. There a service in my country which they only charge 4$ For each wire into the card account for under 10000$. So I just save that 8% from visa. And I can enjoy buying stuff from taobao with that account free charge of the transaction.

The recent problem with taobao that I'm facing is my friend can no longer pay for as he in Cambodia now. And on taobao the payment system change, there no internet banking section like before everything now require the confirmation code. His phone no longer work and he doesn't have the machine thing like I described in my question.

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Answered by Ruby | Feb. 04, 2015 00:55

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That sounds fine. Hope you can open your account successfully.

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