After you are placed in the school, we will help you to get a Chinese bank account with ICBC or CCB bank. These two banks are the biggest banks in China. It will cost you 10 Yuan for the annual fee, which is not refunded. You can get the bank card right away, it doesn’t matter which visa you have. And we will transfer your salary to that bank account. You only need to bring the passport in order to open the bank account. Most of the banks open everyday. The ATM is 24 hours, but if you draw out the money from the ATM that doesn’t belongs to your bank, the bank will charge you 2 Yuan for each withdraw.
You can wire the bank through Western Union or Money Gram or wire the money to the foreign bank card. We will help you to do that whenever you need. However, Many times unexpected bills or expenses come up in your home country after leaving. In order to prepare for these instances, we recommend leaving some signed blank checks with a trustworthy family member/friend. If you don’t like this option, you can also think about having a signer (called power of attorney) added to your account (a parent, sibling, trusted individual) to help you manage your affairs at home. Try to make sure that as many of your money matters are in order before leaving for one year. Typically it is much easier to deal with these things in person than trying to do them over the phone or through family members. Make sure you have set up online access to your bank accounts at home. Double check to make sure you know your login name and password. If you are going to be making consistent payments to things like a credit card, student loans, or other loans, try to set up it up so that you can make your payments online from your bank at home.