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China Visit Guide

Living · Banking

Comparing banks for foreign customers

Six banks — two state giants, two joint-stock banks, and one foreign bank — assessed specifically for what matters to expatriates: account opening ease, English service, mobile apps, and international transfers.

Verified May 2026China Visit Guide editorial

Account opening requirements and bank policies change frequently. This page provides editorial framing — for per-bank detail pages including specific documentation requirements and branch-level notes, use the links in each bank section below. Confirm all requirements directly with the branch before visiting.

How to think about choosing a bank in China

The four state-owned commercial banks (ICBC, Bank of China, China Construction Bank, Agricultural Bank of China) have the widest branch and ATM coverage but are not the most foreigner-friendly in terms of customer service attitude or mobile app quality. Joint-stock banks like China Merchants Bank have invested heavily in retail customer experience. Foreign banks like HSBC China offer genuine English service but with much smaller networks.

In practice, many long-term expatriates end up with accounts at two banks: a state bank for ATM coverage and basic transactions, and a joint-stock or foreign bank for day-to-day digital banking. This is not inefficiency — it reflects the real trade-offs in the market.

For full detail on every bank including documentation requirements and branch-level notes, see the full bank directory.

ICBC — Industrial and Commercial Bank of China

中国工商银行 · State-owned

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Widest branch network; reliable but not the most foreigner-friendly in documentation flexibility.

Strengths

  • +Dense branch and ATM network nationwide
  • +Relatively stable account-opening documentation requirements
  • +UnionPay card accepted globally
  • +Improving English mobile app

Limitations

  • −English at counter-level can be limited outside major cities
  • −International wire process can be slow in some branches
  • −Account opening requires patience

Best for: Expats who want maximum ATM access across China, or who expect to live or travel in smaller cities.

Bank of China

中国银行 · State-owned

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The historically international-facing state bank. Strongest on foreign exchange and international transfers.

Strengths

  • +Strongest FX offering among the state banks
  • +Better-than-average international transfer experience
  • +Airport branches with extended hours
  • +Long-standing relationship with foreign customers

Limitations

  • −Mobile app English interface less polished than joint-stock banks
  • −Account opening documentation similar rigour to other state banks

Best for: Expats who send frequent international transfers or need a strong foreign exchange service.

China Merchants Bank

招商银行 · Joint-stock

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The most praised bank among urban expatriates for its mobile app and customer service attitude. Documentation requirements are similar but the experience is smoother.

Strengths

  • +CMB One app widely regarded as the best banking app in China
  • +More helpful attitude towards foreign customers in urban branches
  • +Good credit card product (for those eligible)
  • +Wealth management products competitive

Limitations

  • −Branch network smaller than the big four state banks
  • −Less coverage in smaller cities and provinces
  • −Account opening can still be documentation-intensive

Best for: Shanghai and Beijing expats who prioritise mobile banking quality and a more responsive customer experience.

HSBC China

汇丰银行(中国) · Foreign bank (locally incorporated)

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The most familiar option for British, Hong Kong, and some South Asian expats. English service is genuinely strong. Branch network is limited compared to Chinese banks.

Strengths

  • +English-speaking staff across all client-facing roles
  • +Familiar interface for those already holding HSBC accounts internationally
  • +International remittance is smooth and well-documented
  • +Premier accounts bridge to global HSBC Premier network

Limitations

  • −Limited branch presence — major cities only
  • −Minimum balance and fee structures can be higher
  • −QR-code payment ecosystem integration less seamless than domestic banks
  • −Does not have full UnionPay ATM coverage

Best for: Expats already banking with HSBC internationally who want continuity, or those who prioritise English-language service above all else.

CITIC Bank

中信银行 · Joint-stock

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A competent mid-tier joint-stock bank with reasonable English capabilities in major cities. Less frequently discussed in expat communities than CMB but a solid option.

Strengths

  • +Good mobile banking platform
  • +Reasonable English service at major-city branches
  • +Competitive FX rates
  • +Well-regarded credit card products

Limitations

  • −Less brand recognition among expats; fewer community reviews to draw on
  • −Branch coverage thinner than state banks

Best for: Expats who cannot get satisfactory service at the more popular options and want a well-run joint-stock alternative.

Shanghai Pudong Development Bank (SPDB)

上海浦东发展银行 · Joint-stock

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A significant joint-stock bank based in Shanghai with strong retail and business banking. Less internationally marketed than CMB but operationally comparable.

Strengths

  • +Strong presence in Shanghai and the Yangtze River Delta region
  • +Competitive wealth management and fixed deposit products
  • +Reasonable mobile app
  • +Visa co-branded card available (useful for international travel)

Limitations

  • −Outside Shanghai and eastern cities, presence thins significantly
  • −Less community documentation for expat account opening experience

Best for: Expats based in Shanghai or the Yangtze Delta who want a solid domestic alternative to state banks.

Related guides

Verified May 2026

China Visit Guide editorial