Banking Recommendations - China (SZ specifically)

Title says it all; recommendations for banking institutions in SZ. Looking for low cost chequing type account that accomodates RMB and preferably USD, and low fees on transfers overseas.

If never the two shall meet, then recommendations on said kind of bank plus your prefered method of choice for transfering funds out of China. :sunglasses:

I don’t know about Shenzhen but Hong Kong’s HSCB is fairly good internet banking, can keep all foreign denominations, overseas transers, they have a branch in the airport too. Something in the PRC? Well they control everything tightly…

HSBC in HK is definitely my backup, but unfortunately I need to receive RMB in China. Will be looking into HSBC China…

[Update] Holy shite, HSBC China wants a monthly fee of 300 or 150RMB / month depending on assets. Guess the Chinese have all the money.

Keep your money with HSBC in HK, get an ATM card and make your withdrawals with that in China. Yes there are fees for withdrawing via a foreign card but your money is probably safer in HK and you won’t pay any fees there. Actually, just walk into an HSBC branch in HK and tell them what you need. Retail banking in HK is so fiercely competitive they will tell you what to do in order to pay the least amount of fees.