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Q: Can I get a debit card with visa or mastercard debit card in China?
The last I heard you needed at least 50,000 RMB at Chinese Merchant Bank to get a debit card tied to visa. Has this changed in the past 3 years since the last time this question has been asked?
Where did you hear that? I opened Gold account (ATM Visa/Mc) at CMB with 1000 Rmb deposit.
If balance on the Gold account is below 50k, you'll be charged 50Rmb penalty fee per month.
That's an account's feature, not requirement. Whatever CMB cares, your balance can be only 500 Rmb, but you'll pay 50 Rmb/m fee.
See 'laowai friendly bank' thread for more on China Merchants Bank.
I got one at China Merchants Bank.
icnif77:
Did you ever try to get CC at CMB? CC is good for online purchases, and I planned to treat it as a debit card. I just wanted access to online ticket bookings.
I was denied, because my residence wasn't in the same city as I applied for.
Margin calls on Shanghai Stock Ex
? Get out, if it's not too late.
See Goldman's report on China (and impact on the rest of the World) till 2020:
http://www.zerohedge.com/news/2015-06-23/worlds-exposure-china-6-easy-charts
I don't have a credit card in the states, just trying to a get a regular card, but has the visa thing. So I can book hotel rooms from websites.
icnif77:
It's difficult to book anything online with CMB Gold (Visa/Mc) ATM card. I usually ask bank's manager to book tickets online for me, and I give her cash.
However, ATM card works well anywhere outside of China. All charges get converted to Rmb by 'spot exchange rate' (best exc. rate possible) applied (no other fees), and deducted from Rmb holdings on the account.
Best Chinese bank, IMO.
I've applied for one at China merchants Bank for a visa card, I just filled out the paperwork and they told me I will get my card in a months time.
Hotwater:
A few months? I got my merchant bank visa debit card in one week from opening the account.
SaifMalik:
My branch told me to wait a month. I can wait a month, I am not really desperate. I just need a visa account so I can easily access the money I make but with this Greece mess, it will take at least a month for the markets to stabilize again.
