Cuentas bancarias, WeChat Pay y Alipay: gestionar el dinero en China como estudiante

Opening an account

Take your passport, your admission notice, your temporary residence registration form and, once you have it, your residence permit to a branch of Bank of China, ICBC or China Construction Bank. Some branches require the residence permit, so if you are still on the 30-day grace period, ask your university to introduce you to a branch used to international students.

You will receive a debit card and online banking access. Depending on the branch, you may be given a lower transaction limit initially, which is raised after your residence permit is issued.

Mobile payments

Both WeChat Pay and Alipay now allow foreign cards to be linked, but transaction fees and limits apply and acceptance is less reliable than with a local card. Linking a Chinese bank card is the standard solution.

Transferring money into China is easiest by international wire (SWIFT) to your Chinese account, or via services like Wise where available. Transfers from certain countries are restricted, so check your home bank.

Scholarship payments

CSC and most provincial stipends are paid monthly by bank transfer, usually around the middle of the month, and the first payment can arrive a month or two after enrolment. Have enough funds to cover your first six weeks regardless of your scholarship status.

Living with cash is possible but inconvenient; keep a few hundred yuan for small shops and taxis.