The limits for foreigners are no fun
As a foreigner in China you need a Chinese Bank account, and as long as you only stay in China this is not much of an issue as you can do everything you need with you normal UnionPay ATM card and WeChatPay/Alipay.
But if you like me travel a lot then thing becomes much more interesting as you will find limits you never heard about starts to hit your bank card and even across the UnionPay network across multiple banks if you have multiple cards from multiple banks.
Here is what I have found so far that drives me crazy
1. It is incredibly hard to get a VISA/MC as a foreigner without company aid.
2. As a new cardholder you will find daily spending limit can be as low as 5000 RMB/day so make sure to check.
3. If you travel abroad the above limits apply as well but now you are also limited by a yearly limit of 100.000 RMB / year for ATM withdrawals outside of China.
4. Trying to do a bank transfer out of China is limited o 50.000 USD/Year but there are ways to handle this with the correct help from your company so make sure you understand this limit when you arrive to ensure your contract etc. is setup in such a way that you can later move things out of China and avoid money getting stuck in China.
