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Banks in Shanghai
By Lainey | November 24, 2007
If you are only a short term resident in Shanghai, the choice of bank really shouldn’t matter that much. Perhaps the biggest factor would be proximity to your home. Here are some accessible consumer banks where first-time settlers go to for their banking needs.
This is personally where I had opened my bank account. It is the most reliable in consumer banking and has branches everywhere. In Xujiahui district alone, there is branch in the ground level of Grand Gateway, a branch along Tianyaoqiao Road, and one along Xinhua Road near Panyu Road.
You can open an account here by filling out a form and presenting your passport and another ID. You must maintain a balance of 10 RMB to keep the account active. There are ATMs everywhere as well so you can withdraw your money. The ATM also directly updates your passbook if you wish to do that.
Industrial Bank of China (IBBC)
This one also has a lot of branches and is actually in a better financial position than the Bank of China. I have exchanged my money here in the past, and the service is not bad. Just really a typical bank.
Topics: Settling in Shanghai |
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