Q. Can I open personal account in ANZ China?
Q. Can I access my funds in Australian or New Zealand ANZ bank accounts from an ANZ China branch?
Q. Do I have to bank with local Chinese banks while I am in China?
Q. Can I convert my RMB salary into a foreign currency and make an overseas transfer?
Q. How long does it take to make, or receive an overseas transfer to or from China?
Q. How much RMB or FX cash can I physically carry out of China?
Q. Is there a departure tax from China?
Q. Can ANZ China make domestic payments in foreign currency and RMB?
Q. Is interest paid on bank accounts in China?
Q. What is the advantage for banking with ANZ China?

Q. Can I open personal accounts with ANZ China?
A.
You can open ANZ foreign currency (multi-currency) accounts and RMB accounts in all ANZ China branches.
To open your account with ANZ China, you simply need to visit ANZ China branch with your identification card or passport and complete the account opening form at the counter.

Q. Can I access my funds in Australian or New Zealand ANZ from my ANZ China account?
A. You cannot access Australian or New Zealand ANZ accounts from ANZ China branches. Conversely, ANZ China accounts can not be accessed from Australian or New Zealand ANZ branches. However, you can access Australian or New Zealand ANZ accounts via the ATM network in China. There are ATMs across China, and almost all of them accept international cards.

Q. Do I have to bank with local Chinese banks while I am in China?
A. There are no regulations or requirements for individuals to open accounts with local banks. ANZ China can assist you with most of your banking needs.

Please note that ANZ China does not have card business in China. However, ANZ China has service agreements with a number of local banks and can facilitate the account opening and card issuance procedure, without the need to visit the local bank.

Q. Can I convert my RMB salary into foreign currency and make an overseas transfer?
A.
RMB can be converted into a foreign currency up to your total salary, less tax. An original tax receipt must be provided before the conversion and payment can be made.

Q. How long does it take to make, or receive an overseas transfer to or from China?
A.
From the day of making a transfer, normally it will take two working days for funds to be received either overseas or into your ANZ China bank account. If funds are not received within three working days, please contact us for guidelines of making enquires at the sending or receiving bank.

Q. How much RMB or FX cash can I physically carried out of China?
A. RMB20,000 cash can be carried out of China. Note however that very few countries accept RMB cash for conversion. Up to USD$5,000 equivalent can be carried out of China in foreign currency (cash). Amounts greater than US$5000 and up to US$10000 will require a permit for Taking Foreign Currency Out of Customs Territory issued by the FX designated bank. A Permit for an amount over US$10000 needs to be applied from SAFE directly.

Q. Is there a departure tax from China?
A.
China doesn’t have a departure tax however all taxes are included in your travel ticket.

Q. Can ANZ China make domestic payments in foreign currency and RMB?
A.
ANZ China is part of the domestic clearing system and can make domestic payments electronically either within the day, or overnight.

It's very convenient for you to receive and pay RMB domestically. And, conditionally, you are able to do domestic transfers in foreign currency, which can be further discussed on a case by case basis with our relationship manager.

The cut off time for local payments clearing is 4:30pm. The payment orders received after 4:30pm are affected in the next working day.

Q. Is interest paid on bank accounts in China?
A.
Interest is paid on foreign currency accounts at the prevailing international interest rates applicable to the currency of the account.

RMB interest rates are regulated and fixed by the People's Bank of China (PBOC).

Q. What is the advantage for banking with ANZ China?
A. At ANZ China we will do more than just open a bank account for you and make payments. Our expatriates and local staff have all experienced banking and living in China from both a personal and professional perspective and can offer useful advice, in either Chinese or English.


*CANNEX Money magazine's Home Loan Lender of the Year 2008, 2007, 2006 and 2005. CANNEX Personal Investor magazine's Home Lender of the Year 2005, 2004, 2002, 2001, 2000 and 1999.


- Measures for the Administration of Individual Foreign Exchange PBOC Decree No.3, effective from 01/02/2007
- Detailed Rules for the Implementation of the Measures for the Administration of Individual Foreign Exchange, effective from 01/02/2007
- Interim Measures for the Administration of Carrying Foreign Currency Cash for Persons Entering or Exiting the Territory, effective from 01/09/2003
Please note all provisions in the regulations above are subject to statutory changes.