Bank of China

National Bank, bankofchina.com

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About the Bank

Bank of China is one of China's largest state-owned commercial banks. Headquartered in Beijing, Bank of China operates in 51 countries worldwide, including the U.S. The bank has branches located in New York City, Los Angeles and Chicago, offering both personal and corporate banking services.


Personal banking encompasses deposit accounts, such as personal checking and savings accounts, certificates of deposit, money market accounts and IRA CDs, as well as foreign currency exchange services and a specialty checking account for Chinese students studying in the U.S. There are two checking options: Regular Personal Checking and Personal Checking NOW accounts. The former is a basic checking account, with the features you'd expect, including check-writing and debit card access. The latter shares those same features but offers the added benefit of earning interest on deposits. Both accounts carry a monthly maintenance fee, which can be avoided by meeting the minimum balance requirement.


A Statement Savings account can be linked to your checking account debit card for convenient ATM withdrawals. These accounts earn interest, but at a lower rate compared to the Bank of China Money Market Savings account. CD accounts also earn a higher rate than the Statement Savings account. CDs come with terms ranging from one to four years, with interest rates that are tiered based on the length you choose. There's no monthly maintenance fee for a CD account but there is a penalty for early withdrawals. The same maturity terms apply to IRA CDs, which are available if you want the security of saving in a CD with the tax advantages of saving in an individual retirement account.


With your Bank of China debit card, you can make cash withdrawals at any Bank of China ATM in the U.S. without a surcharge. If your checking account meets certain minimum balance requirements, you can be reimbursed for up to two domestic non-Bank of China ATM surcharges each month. Worldwide, you can make cash withdrawals at any ATM where MasterCard is accepted. That includes nearly 80,000 ATMs in mainland China. There's a slight hitch, however: an international convenience fee of 1.75% applies to transactions made outside the U.S.


If you're planning a trip abroad, Bank of China offers foreign currency exchange services. Some of the currencies available for settlement services include Australian and Canadian dollars, British pounds, Japanese yen and Euros. The type of currency you can exchange U.S. dollars for varies based on which U.S. Bank of China branch you're visiting. Bank of China also provides incoming and outgoing wire transfer services, but outgoing transfers are limited to China, Hong Kong, Macau SAR and accounts at other Bank of China overseas branches.


To open a Bank of China account or conduct certain transactions, you'll need to contact a branch directly but online and mobile banking are available to manage your accounts once they've been opened. If you need help with your account, live customer service is available by contacting the New York Bank of China branch.

Bank of China Fees

  • National Average
  • Monthly Inactivity N/A $6
  • Non-Sufficient Fund (Overdraft) N/A $30
  • Stop Payment item N/A $27
  • Return Deposit N/A $13
  • Domestic Wire Transfer (Outbound) N/A $22
  • Domestic Wire Transfer (Inbound) N/A $10
  • Non-Bank ATM N/A $1

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