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Bank of China Dollar accounts

Travel Forums Asia Bank of China Dollar accounts

1. Posted by Paul3879 (Respected Member 212 posts) 8y

Does anyone have any info or experience with "Dollar accounts" in banks in China?
I have tried to find out info at my local BoC but their Engliah and my Chinese is not the best.
What I would like to know is the following:-
What is the best bank to use?
Can you put RMB into the account and then withdraw dollars over the counter.
I currently have about 6000 USD in cash so I would like an account which I can put the cash in and also deposit RMB whilst I am working. And say after a 12 month period withdraw the lot in USD.
Is such a thing possible?

Any help or info of any sort will be appreciated.
Thanks, paul.

[ Edit: Edited on Jul 27, 2008, at 6:10 AM by Paul3879 ]

2. Posted by bjsweethom (Budding Member 2 posts) 8y

Bank of China is absolutely your best choice. You can open a double-currency account so you can put your dolloar and RMB in the same account. You can withdraw any currency as you want out of your account.

3. Posted by Paul3879 (Respected Member 212 posts) 8y

The double-currency account sounds good! So presumably... I could put 'x' amount of Dollars and also 'x' amount of RMB in the same acount and as I wish or at the end of my contract I could withdraw the lot either in RMB, Dollas or any other currency they offer?

4. Posted by bjsweethom (Budding Member 2 posts) 8y

Correct!:)

5. Posted by Paul3879 (Respected Member 212 posts) 8y

Hey thanks bjsweethom that;s just what I'm looking for!