Not a tourist guide but can SAVE MONEY AND PROTECT yourself from "RISKS"; compliment the good services and feedback the poor performance for improvement! Though China is changing fast but still there are many useful experiences that you need to know for sharing.

Tuesday, July 31, 2007

Planning your Trip to China 6

10. Bank Account: If you are doing business in China, you can open bank accounts. A passport and a small depost is required. Deposits can be made in several currencies, while withdrawals must be in the same currency as the deposit then exchange into RMB according the Bank’s today exchange rate. Somehow when you want to withdraw your own money you have to fill in how or what reason that you are going to use your money? (Normally I fill in the reason is for telephone fee.)

If you open a current account, there are certain points you have to remember when you use your cheque for your payment. You have to make your “name zeal” or “name stamp” or your “company’s stamp”.

10.1 People in China only recognise the signature in your ” name zeal” or your “name stamp” instead of your handwriting signature.

10.2 The name stamp chopped on the cheque cannot be blurred or with any amendment even adding your initial signature. People will not accept your cheque.

10.3 The cheque cannot be folded. People will not accept your cheque.

10.4 The cheque that you have written the date on can only valid within ten day. After ten days, your cheque will be useless.

Though “Bank of China” and “Chinese Commercial Bank” seem popular in China. I personally suggest you to use the “China Merchants Bank“. They have very good services and very aggressive in helping. Working efficiency is better. More sincere and with passion to serve. The bank even opens on Sunday.

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