China Romance
General Discussion and Useful Links => Newbies Corner => Topic started by: Oiler1 on March 12, 2010, 05:09:27 am
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Can someone explain to me how a B of C debit card works and how they charge fees.
I opened a savings account in Zhongshan and used the debit card without charge. Now I am in a different city and I found out I cannot withdraw 1203 RMB in my account with the debit card.
I managed to wd 800 RMB. Next day my account balance was not 403 but 393!
No one here at the B of C speaks English so I cannot ask them correctly what their debit card fees are. I am guessing if you use the debit card outside of the branch where you opened your account there is a service charge each time. Can someone confirm this?
Sigh.. this may mean to make my balance zero, I may have to withdarw all my money the next time I go to the bank and end up paying a fee because I am not in Zhongshan anymore.
It's a small amount but still, I like to know confirm what their service charges really are. Can someone who knows this bank please explain it to me?
It's great to have a debit card, but the next tijme I should reserve use for emergencies and use in only the city I got it from (I think)?
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Oiler,
when you open your bank of China Account they charge you 5rmb for the
savings book and 5 rmb for the card which might explain why your difference
is 10 rmb that is what they did to me after i opeed my account. i have always withdrew
my money at a b/c and have used my card everywere for purchases and have never
been charged a fee with the exception of 3 rmb when i was in the middle of gods country
and had to withdraw 2500 rmb because i left all my money at home in the desk drawer but
it was at i think if i remember icbc bank so maybe the 10 rmb was your opening fee for card and book
I will ask them but I think they already charged me 10-15 for opening the account. I don't want to get charged every time I use the debit card. Somehow I will find a way to ask them.
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oiler,
go to the bank and run your passbook thru the machine in the lobby
that prints on it all your transactions into the book that will show you
the entries and amounts
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Yes good idea, I have not gotten my passbook uodated yet. It did not show the initial 10 rmb charge but the guy just took 1o rmb from me at the bank and didn't post an entry.
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bingo thats what it is
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And they charge 3 rmb every month for the account as well.
Willy
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Willy,
i just checked my passbook and i have never been charged a 3 rmb fee monthly.
is that tied ito avg daily balance maybe?? i dont know i just get interest added
evry 3 months
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You probably have a savings account hence the interest and no 3 rmb charge.. My account is just an everyday one and they charge 3rmb a month.
Willy
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You probably have a savings account hence the interest and no 3 rmb charge.. My account is just an everyday one and they charge 3rmb a month.
Willy
What is the difference? I only know of checking and savings accounts here in Canada. I don't think they ever accept checks in China though.
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i see Willy didnt think they had them here never thought to ask
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I found out I can't close my bank of China account here in Shanghai as it was opened in Zhongshan. I got 393 left and the nost I can take out from the ATM is multiples of 100 rmb. I think I can use the debit card to make purchases though or can I? THis way I can rid the account of the baklance?
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If you withdraw the money from the ATM, you can only get money 100,or 200,or more, but you can not get 150,or 152, or 278. It means that you can only get money out with the unit of hundred.
If you open your account in Bank of China in Zhongshan, you can only be free to withdraw money from different banks of B/C in Zhongshan. If you withdraw money from other banks in Zhongshan, you will be charged. If you withdraw from other B/C from another city, you will also be charged. They will charge you according to the amount you will withdraw. The minimum charge is 2 RMB. It seems like to charge 1RMB for 100RMB that you have withdrawn. You will also be charged 10 RMB every year as the fee for the bank mamagement
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well it looks like you should just do a
little shopping while your there and use
all the money or leave it for the next trip
back to China
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I found out I can't close my bank of China account here in Shanghai as it was opened in Zhongshan. I got 393 left and the nost I can take out from the ATM is multiples of 100 rmb. I think I can use the debit card to make purchases though or can I? THis way I can rid the account of the baklance?
What are you doing in Shanghai? Last I heard you had left Zhongshan and went to Kaiping where they would understand you more!!!! Are you going back to Canada earlier than planned?
Of course you can purchase things to use up the balance all you have to do is to find a shop that actually accepts cards. Although in Shanghai you may find a few upper class ones with, I fear, upper class prices.
Willy
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If you withdraw the money from the ATM, you can only get money 100,or 200,or more, but you can not get 150,or 152, or 278. It means that you can only get money out with the unit of hundred.
If you open your account in Bank of China in Zhongshan, you can only be free to withdraw money from different banks of B/C in Zhongshan. If you withdraw money from other banks in Zhongshan, you will be charged. If you withdraw from other B/C from another city, you will also be charged. They will charge you according to the amount you will withdraw. The minimum charge is 2 RMB. It seems like to charge 1RMB for 100RMB that you have withdrawn. You will also be charged 10 RMB every year as the fee for the bank mamagement
I know that now. So what if I never come back to Zhongshan? How can I close my account? I have to add 50 rmb so I can wd the bulk of my cash through the ATM or spend all of it at a place that takes Union pay? Then I can leave it dormant forever?
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You can not close your account if you not go back to Zhongshan. You can close it in other same bank in the city where you opened it. The bank will charge you every year even though no balance in your account if you have not closed it. But do not worry, you can use up the money in your account and leave it there. No one will call you to ask for money. It is better for you to spend all of it at a place that takes Union pay. I do not know if ATM will receive 50 RMB.
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You can not close your account if you not go back to Zhongshan. You can close it in other same bank in the city where you opened it. The bank will charge you every year even though no balance in your account if you have not closed it. But do not worry, you can use up the money in your account and leave it there. No one will call you to ask for money. It is better for you to spend all of it at a place that takes Union pay. I do not know if ATM will receive 50 RMB.
Thanks for all the advice. I will use my ATM/Union card to pay my hotel bill and get rid of the balance that way. If it is at zero then I will leave it that way forever or until I go back to ZS whenever that will be.
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oiler,
just spend the money and dont worry about it being open or closed
very simple solution :icon_cheesygrin:
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After getting my ATM rejected at a cafe, I finally got all my money (less 10 rmb fee) out of my account. Each bank is different, but I got a friendlier bank to help me this time. Now I got zero in my account forever plus probably a negative charge each year bc I am not in ZS to cancel it.
All this may be small potatoes to some, but I learned something about the BoC banking system so when I do have larger amounts to move I know what to expect.
It's good insurance to open a bank account at the largest nationwide bank if you intend to stay in one city or go back to it. I leave my cash at the hotel with no problem though.
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Oiler 1,
You should of made it clear from the beginning that, you wanted the account valid for all of China. once your tied with that standard BoC account it can be a real bummer to get it changed, especially when you can't get back to the original bank branch you opened the account....
I know that it's not obvious, that it wouldn't be accessible everywhere, and the English spoken at these banks leaves a lot to be desired. I must admit, i opened my account with BoC with the help of the company fixer, but i can withdraw and credit anywhere in China, just like any other western type bank account that were used to dealing with.
Next time you open an account, .....make sure they understand what you want from that account.... haha!!
David....
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I did ask for an ATM card and account usable all throughout China using my interpreter. I did not know about how the actual account works nor did she bother to ask for me. All she said was it was usable all over China.
Yes the next time I will make sure when I open anotherproper universal account in another city. BTW, if I do that will they find out I owe an annaul fee on other account?