Comments on: More Scuffles with the Bank (continued) http://benross.net/wordpress/more-scuffles-with-the-bank-continued/2008/06/26/ Urban Sociology and Urbanism, in China and North America Fri, 10 Feb 2012 06:41:58 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Okay, No More Excuses, I Don’t Even Have a Job - China, China Construction Bank, Chinese, Linyi, Phil, Plane, RMB, Shanghai, stolen, wallet, yuan, http://benross.net/wordpress/more-scuffles-with-the-bank-continued/2008/06/26/comment-page-1/#comment-54088 Okay, No More Excuses, I Don’t Even Have a Job - China, China Construction Bank, Chinese, Linyi, Phil, Plane, RMB, Shanghai, stolen, wallet, yuan, Thu, 07 Apr 2011 07:39:16 +0000 http://www.benross.net/wordpress/?p=188#comment-54088 [...] but it might have well have been.  He just forgot his pass code.  You can read all about it here, here, here, and here.  It’s a lot of reading, but worth it.  The memory [...] [...] but it might have well have been.  He just forgot his pass code.  You can read all about it here, here, here, and here.  It’s a lot of reading, but worth it.  The memory [...]

]]> By: Jetso http://benross.net/wordpress/more-scuffles-with-the-bank-continued/2008/06/26/comment-page-1/#comment-29766 Jetso Sun, 27 Jul 2008 14:16:08 +0000 http://www.benross.net/wordpress/?p=188#comment-29766 And to think the Chairman and/or CEO of ICBC over a month ago wants to make their bank the biggest & most competitive in the world within 5 years .... One Ego One Dream .... And to think the Chairman and/or CEO of ICBC over a month ago wants to make their bank the biggest & most competitive in the world within 5 years …. One Ego One Dream ….

]]> By: Another Laowai http://benross.net/wordpress/more-scuffles-with-the-bank-continued/2008/06/26/comment-page-1/#comment-28230 Another Laowai Wed, 16 Jul 2008 15:51:31 +0000 http://www.benross.net/wordpress/?p=188#comment-28230 I'm sure glad charging credit onto your mobile phone is easier now but the banks still bite ass. Whenever we travel we'd take 4-5 different ATM cards as backup. I've heard if you have one of the banks VIP ATM cards you can get service in different cities but you need to maintain a deposit of over 200,000RMB to qualify I’m sure glad charging credit onto your mobile phone is easier now but the banks still bite ass. Whenever we travel we’d take 4-5 different ATM cards as backup. I’ve heard if you have one of the banks VIP ATM cards you can get service in different cities but you need to maintain a deposit of over 200,000RMB to qualify

]]> By: danjo http://benross.net/wordpress/more-scuffles-with-the-bank-continued/2008/06/26/comment-page-1/#comment-26995 danjo Sat, 05 Jul 2008 08:20:19 +0000 http://www.benross.net/wordpress/?p=188#comment-26995 I have also had an absolute disaster with Chinese banking. I moved to Shanghai and was low on Chinese money due to the apartment deposit etc., found out too late my US debit card had expired and I had to wait for the new one to be sent from America and decided to have my parents send me money from the US to borrow for a while. Big mistake. To make a long story short, it was explained to me by the very professional-looking people at HSBC (also my bank in the US) that I just needed to open an account at Bank of China, have my parents wire it there, and I could easily withdraw it from the ATM in RMB. The money never appeared in the ATM, and my plans changed and I moved back to Gansu province. I finally called up the Bank of China in Shanghai (finding out that number was INCREDIBLY time-consuming) only to find out the money had been received, but there was absolutely no way at all of getting it other than going to that specific branch in person and picking it up in US dollars. Luckily I didn't need the money after all, and luckily I have the chance to go Shanghai in person as I will fly from there. This could have easily ended with me owing my parents US$2,500, or at least having to make a trip to a Shanghai bank from across the country. I have also had an absolute disaster with Chinese banking. I moved to Shanghai and was low on Chinese money due to the apartment deposit etc., found out too late my US debit card had expired and I had to wait for the new one to be sent from America and decided to have my parents send me money from the US to borrow for a while. Big mistake. To make a long story short, it was explained to me by the very professional-looking people at HSBC (also my bank in the US) that I just needed to open an account at Bank of China, have my parents wire it there, and I could easily withdraw it from the ATM in RMB. The money never appeared in the ATM, and my plans changed and I moved back to Gansu province. I finally called up the Bank of China in Shanghai (finding out that number was INCREDIBLY time-consuming) only to find out the money had been received, but there was absolutely no way at all of getting it other than going to that specific branch in person and picking it up in US dollars. Luckily I didn’t need the money after all, and luckily I have the chance to go Shanghai in person as I will fly from there. This could have easily ended with me owing my parents US$2,500, or at least having to make a trip to a Shanghai bank from across the country.

]]> By: 张鹏程 http://benross.net/wordpress/more-scuffles-with-the-bank-continued/2008/06/26/comment-page-1/#comment-25935 张鹏程 Sat, 28 Jun 2008 17:43:58 +0000 http://www.benross.net/wordpress/?p=188#comment-25935 哇！ 我现在在菲律宾过暑假（我在北大的留学）而我知道了你的经验我觉得非常紧张！我如果把我的储蓄卡的密码忘掉，或则把储蓄卡丢了，我就非常糟糕了！ 哇！ 我现在在菲律宾过暑假（我在北大的留学）而我知道了你的经验我觉得非常紧张！我如果把我的储蓄卡的密码忘掉，或则把储蓄卡丢了，我就非常糟糕了！

]]> By: WoAi http://benross.net/wordpress/more-scuffles-with-the-bank-continued/2008/06/26/comment-page-1/#comment-25815 WoAi Fri, 27 Jun 2008 16:49:35 +0000 http://www.benross.net/wordpress/?p=188#comment-25815 China is developing quickly but banking still has a LONG way to go. Try wiring some money to someone overseas using Western Union. First you have to change your Euro into RMB and then use the RMB to buy US dollars. Then and only then can you begin the wire transfer procedure. You leave the bank 50 minutes later with about 15 sheets of paper which are all the forms which ask you the same questions about 15 times, including : what is the money to be used for at the destination. WTF!!! I said "shopping". China is developing quickly but banking still has a LONG way to go. Try wiring some money to someone overseas using Western Union. First you have to change your Euro into RMB and then use the RMB to buy US dollars. Then and only then can you begin the wire transfer procedure. You leave the bank 50 minutes later with about 15 sheets of paper which are all the forms which ask you the same questions about 15 times, including : what is the money to be used for at the destination. WTF!!! I said “shopping”.

]]> By: NanjingPaul http://benross.net/wordpress/more-scuffles-with-the-bank-continued/2008/06/26/comment-page-1/#comment-25744 NanjingPaul Fri, 27 Jun 2008 01:18:21 +0000 http://www.benross.net/wordpress/?p=188#comment-25744 Ben, Why does this not surprise me at all. I had a similar experience with ICBC in trying to get an UnionPay ATM card for my account. I went to the closest ATM branch to me in the same city as the account was created and was told I would have to go to the branch where the account was originally opened, which was no more than 200 meters down the road. I couldn't believe it. Not sure the last time you bought a train ticket but it is possible now to buy train tickets in a different city than the originating city and if you look in the top right corner you will see your ticket's point of sale. Also, for sim cards I originally encountered this problem in 2006 but have since found that I am able to charge my China Mobile account away from Nanjing (where I bought the card). China Mobile now sells credit where you are asked to enter the phone number of the sim card you want to chargel and then the password. They are not the plastic refill cards I am use to buying in Nanjing but little slips of paper that are torn open to reveal the password. Not all shops have them but most do. So it seems that slowly China is becoming more mobile. I think it really highlights how mobile American society is that we are so astounded by these situations. I was even thinking of buying the Apple Macbook Air, which is supposedly the ultimate mobile computer and its selling point to me was its mobility!!! haha Ben,
Why does this not surprise me at all. I had a similar experience with ICBC in trying to get an UnionPay ATM card for my account. I went to the closest ATM branch to me in the same city as the account was created and was told I would have to go to the branch where the account was originally opened, which was no more than 200 meters down the road. I couldn’t believe it.

Not sure the last time you bought a train ticket but it is possible now to buy train tickets in a different city than the originating city and if you look in the top right corner you will see your ticket’s point of sale. Also, for sim cards I originally encountered this problem in 2006 but have since found that I am able to charge my China Mobile account away from Nanjing (where I bought the card). China Mobile now sells credit where you are asked to enter the phone number of the sim card you want to chargel and then the password. They are not the plastic refill cards I am use to buying in Nanjing but little slips of paper that are torn open to reveal the password. Not all shops have them but most do.

So it seems that slowly China is becoming more mobile. I think it really highlights how mobile American society is that we are so astounded by these situations. I was even thinking of buying the Apple Macbook Air, which is supposedly the ultimate mobile computer and its selling point to me was its mobility!!! haha

]]> By: Jason http://benross.net/wordpress/more-scuffles-with-the-bank-continued/2008/06/26/comment-page-1/#comment-25718 Jason Thu, 26 Jun 2008 18:34:24 +0000 http://www.benross.net/wordpress/?p=188#comment-25718 Here in Toronto, I have to do certain banking stuffs at my home branch, though I don't know if changing password is one of these things Here in Toronto, I have to do certain banking stuffs at my home branch, though I don’t know if changing password is one of these things

]]> By: Alan http://benross.net/wordpress/more-scuffles-with-the-bank-continued/2008/06/26/comment-page-1/#comment-25713 Alan Thu, 26 Jun 2008 17:46:06 +0000 http://www.benross.net/wordpress/?p=188#comment-25713 Sorry for some typos above. The sentence that reads "no banks in China wouldn't even consider ..." should be "no banks in China would even consider ..." "The restate agent" should be "The real estate agent". Sorry for the confusion. Sorry for some typos above. The sentence that reads
“no banks in China wouldn’t even consider …” should be “no banks in China would even consider …”

“The restate agent” should be “The real estate agent”.

Sorry for the confusion.

]]> By: Alan http://benross.net/wordpress/more-scuffles-with-the-bank-continued/2008/06/26/comment-page-1/#comment-25711 Alan Thu, 26 Jun 2008 17:40:11 +0000 http://www.benross.net/wordpress/?p=188#comment-25711 Ben, I feel sorry for you. China still sucks! Five years ago, I lost 30,000 yuan in earnest money when I tried to buy a condo in Fuzhou. I learned a big lesson - never assume anything about China. I wanted to buy a condo in a high rise complex near Taijiang district in Fuzhou. The condo would cost USD$100,000. I told the real estate lady (who seemed to be very helpful and professional) that I would put USD$25,000 down and finance the rest from a local Chinese bank. They required 30,000 yuan in earnest money, which by definition in America is earnest money. That means I would get the money back in full if I cannot get a loan from the bank. I put down 30,000 yuan and signed the sales contract. I stated clearly I would only want a RMB loan from a Chinese bank in China and I was assured numerous times that that wouldn't be a problem. Long story short, no banks in China wouldn't even consider giving me a loan after I had provided them with all kinds of financial documents, passport, and business income, etc. I even got my governor's office to write a letter stating that I was a productive citizen. Well, the loan fell through. My earnest money was "confiscated." It's their policy. I made numerous phone calls. The restate agent was friendly but couldn't do anything to convince her boss. T.I.C. They simply refused to refund me. I was screwed big time. I know I could have taken out a loan in the U.S. or simply paid cash for it, but the risk was too high 5 years ago to sink USD$100,000 into a condo in Fuzhou. In 1996, we bought a condo in Fuzhou for USD$30,000 but its value dropped by about 50% when Mainland launched a few missiles across the Taiwan Strait that year. Our rationale was that if anything happened to Fuzhou, the Chinese bank would have to take over the condo and we could be free from the loan. But we didn't expect the definition of earnest money to be so different in two countries. Thank goodness, it was only 30,000 yuan. Live and learn. Don't assume anything about China ESPECIALLY WHEN MONEY IS INVOLVED. Ben, I feel sorry for you. China still sucks! Five years ago, I lost 30,000 yuan in earnest money when I tried to buy a condo in Fuzhou. I learned a big lesson – never assume anything about China. I wanted to buy a condo in a high rise complex near Taijiang district in Fuzhou. The condo would cost USD$100,000. I told the real estate lady (who seemed to be very helpful and professional) that I would put USD$25,000 down and finance the rest from a local Chinese bank. They required 30,000 yuan in earnest money, which by definition in America is earnest money. That means I would get the money back in full if I cannot get a loan from the bank. I put down 30,000 yuan and signed the sales contract. I stated clearly I would only want a RMB loan from a Chinese bank in China and I was assured numerous times that that wouldn’t be a problem. Long story short, no banks in China wouldn’t even consider giving me a loan after I had provided them with all kinds of financial documents, passport, and business income, etc. I even got my governor’s office to write a letter stating that I was a productive citizen. Well, the loan fell through. My earnest money was “confiscated.” It’s their policy. I made numerous phone calls. The restate agent was friendly but couldn’t do anything to convince her boss. T.I.C. They simply refused to refund me. I was screwed big time. I know I could have taken out a loan in the U.S. or simply paid cash for it, but the risk was too high 5 years ago to sink USD$100,000 into a condo in Fuzhou. In 1996, we bought a condo in Fuzhou for USD$30,000 but its value dropped by about 50% when Mainland launched a few missiles across the Taiwan Strait that year. Our rationale was that if anything happened to Fuzhou, the Chinese bank would have to take over the condo and we could be free from the loan. But we didn’t expect the definition of earnest money to be so different in two countries. Thank goodness, it was only 30,000 yuan. Live and learn. Don’t assume anything about China ESPECIALLY WHEN MONEY IS INVOLVED.

]]>