Opening a Joint Bank Account in China

[chengkai]

So, basically what the title suggests: Has anyone opened a joint bank account or credit card in China? My wife and I are living in Shenzhen, and not only would we like to include proof of co-mingling finances, but we would also like to open an account together here to start saving some extra money. Is it possible? I had a friend here say that they've never heard of such a thing. My wife heard the same thing.

[TLB]

So, basically what the title suggests: Has anyone opened a joint bank account or credit card in China? My wife and I are living in Shenzhen, and not only would we like to include proof of co-mingling finances, but we would also like to open an account together here to start saving some extra money. Is it possible? I had a friend here say that they've never heard of such a thing. My wife heard the same thing.

 

 

There might be some folks here who have done this; my wife and I tried last time I was over to see her (Yingkou, Liaoning Province) but couldn't find a bank that could do it. We went in three different banks -- they didn't act like they didn't know what it was, but they all said they couldn't do it there and didn't know where we could do it.

 

I wouldn't give up, but it might take some time to find where you can do it.

[Kyle]

Joint accounts - no, at least I've never heard of this in China. Joint credit cards through the Chinese bank - yes. Jingjing and I did that

 

http://i216.photobucket.com/albums/cc193/kyleinwuhan/Screenshot.png

 

FYI - These cards have long since been deactivated

Edited March 26, 2011 by Kyle (see edit history)

[tsap seui]

So, basically what the title suggests: Has anyone opened a joint bank account or credit card in China? My wife and I are living in Shenzhen, and not only would we like to include proof of co-mingling finances, but we would also like to open an account together here to start saving some extra money. Is it possible? I had a friend here say that they've never heard of such a thing. My wife heard the same thing.

 

 

We did it almost 3 years ago. Took two or three banks but we found one. Sorry, don't recall the name of the bank.

 

We both had to open an account there then we could open a joint account. It took an hour and a half to do as only one person in the bank knew how to do it and he was studying up as he went.

 

I'd think it would be easy to find a bank to do it in Shenzen, we did it in a small city up north.

 

tsap seui

[Mike and Yan]

YIKES! ! ! !

Who gets the money out of the bank when a spouse dies!!!

The bank? Uncle Chairmen?

 

No wonder no one likes the banks in China

[tsap seui]

YIKES! ! ! !

Who gets the money out of the bank when a spouse dies!!!

The bank? Uncle Chairmen?

 

No wonder no one likes the banks in China

 

 

 

Same thiung here if you have no power of attorney, estate statement papers or will testimonial.

 

My dad passed on us and the bank who we grew up with it's now officers, hands were tied to do anything with us kids, Damndest thing I've ever seen...well, next to legal immigration.

 

tsap seui

[2mike&jin]

So, basically what the title suggests: Has anyone opened a joint bank account or credit card in China? My wife and I are living in Shenzhen, and not only would we like to include proof of co-mingling finances, but we would also like to open an account together here to start saving some extra money. Is it possible? I had a friend here say that they've never heard of such a thing. My wife heard the same thing.

 

 

I guess my experience, although it might be dated, was that we went to three banks and we couldn't get a "joint account". BOC, which we use now - because of the online power was adamant all the way to a VP that it was impossible. HSBC, said no....but then I didn't like the amount of money they required to get into the "executive banking" - because they wouldn't pay interest on the funds...as they sat there qualifying you for the increased service. I think it was China Construction -- where we also tried...no go. Things may have changed...but we couldn't make it happen.

 

Just another perspective - I"m kinda glad I didn't get a joint account - it let's me really keep things separate - especially with having to report to the US Government all foreign accounts over $10K USD each year. So, basically - when we pass money to China...it goes through one of her accounts....naturally the one we report each year. It's helped keep it straight. Best of Luck.

[pbatt]

I just returned from Guilin 2 weeks ago and LiYuan and I opened a joint savings account at ICBC bank. It took about 20 minutes to complete all. I just used my Passport and filled out the forms. Good Luck

[JIALIandTOM]

I just returned from Guilin 2 weeks ago and LiYuan and I opened a joint savings account at ICBC bank. It took about 20 minutes to complete all. I just used my Passport and filled out the forms. Good Luck

 

My fiancee Jiali and I opened a joint account in Guang Zhou last month, also at ICBC Bank. We recieved a bank book with only her name on it and each of us received a debit card for the account. I'm not sure how useful it will be for visa purposes but I do have one page with both our names and signatures on it that I will have translated.

[chengkai]

Great. We'll make a trip to ICBC tomorrow and let you all know what happens. Thanks!

 

--Curt

[chengkai]

Thought I would update everyone on what happened with ICBC in Shenzhen. We couldn't open a joint account without having our own first. So, I opened my own personal account (Tata already had one) and then we connected a joint Savings Account to both personal accounts.

[tsap seui]

Thought I would update everyone on what happened with ICBC in Shenzhen. We couldn't open a joint account without having our own first. So, I opened my own personal account (Tata already had one) and then we connected a joint Savings Account to both personal accounts.

 

Same procedure and as it turns out same bank we used years ago when we opened out joint account.

 

Good for you.

 

We did it because we were going ot file a DCF application.

 

tsap seui