Shanghai, China
Where should I setup a bank account in Shanghai?
We asked expats in Shanghai what banks they use and there advice about banking. They advised...
"When considering retiring in Shanghai, expats should understand the cost of living, which is higher than some other parts of China. Additionally, it is important to research housing options, as renting is often a more attractive option than buying a property. Expats should also familiarize themselves with the healthcare system in Shanghai and make sure to have adequate health insurance coverage. Additionally, learning the language or at least some basic phrases can go a long way in making your move to Shanghai smoother. It is also important to check the visa requirements for retirees. It is helpful to be aware of your local options for shopping for food and other essentials. Finally, be sure to take some time to explore the city and its many wonderful attractions," said another expat in Shanghai, China, China.
"Yes. I switched to HSBC, which together with their Premier service allowed me to easily transfer my salary to and from my UK bank accounts. This also made it easier applying for a mortgage locally. Once coming to China I also engaged with a local-foreign owned firm to assist with my personal finances. They gave me much insight into the local market and enabled me to invest RMB into local funds. A risky endeavour for some but with currency appreciation against the USD I'm set to make at least 2%pa in interest alone. Incidently the fund returned 7% last year," wrote a member who made the move to Shanghai, China.
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Other Questions:
- What do I need to know before retiring in Shanghai?
- What do I need to know before moving to Shanghai?
- How do I find a place to live in Shanghai?
- What is a typical expat home or apartment like in Shanghai?
- What is the average cost of housing in Shanghai?
- How do I meet people in Shanghai?
- What should I pack when moving to Shanghai?
- Where should I setup a bank account in Shanghai?
- Will I be able to find a job in Shanghai?
- What is life like in Shanghai?
- What do people like (and dislike) about Shanghai?
- What type of social life can someone expect in Shanghai?
- What is the social scene like in Shanghai?
- What advice to expats in Shanghai have about housing?
- What are medical services in Shanghai like?
- Are healthcare and health insurance expensive in Shanghai?
- Is the cost of living in Shanghai high?
- What are the visa & residency requirements in Shanghai?
- Why do people move to Shanghai?
Where should I setup a bank account in Shanghai?
If you live in Shanghai, newcomers to Shanghai would love to hear your answer to this question.
