The worst "Bank of China".
Personal banking in China could easily become a nightmare for people who are not used to waiting in line for half an hour to get serviced. The problem is that, most of the trasactions are cash transactions and there is no such thing as personal checks. Efforts have been made in different bank branches to enhance the self-services, but you may not have such luck in the bank you have account with and the particular bank branch you go to.
My company requires us to have an account in Bank of China for monthly deposit of salaries. However, Bank of China has much fewer branches by comparison to other banks in China and they are unbelievably poorly equipped. Yesterday, I went to the closest branch of Bank of China to transfer some money to another account at another bank. There was a long line of people ahead of me, but only two of the windows were open, the other windows were either closed or would only serve companies. I had to wait there for 40 minutes before my number was called only to be told that they couldn't do it unless the other bank was in another city. I don't understand what kind of policy that was. When I asked them why, they told me that they would only wire the money to another city. For the banks in the same city, you woule need to get cash here and walk over there to deposit it. Moreover, they added, there were more than 5,000 bank branches in Shanghai, the desitination bank had a branch ONLY two blocks away, why would I fuss about transfering the money? So here I was, carrying a paper bag full of cash in my hand like holding a takeout lunch, and walked all the way from this bank to the other. I wonder if people at Bank of China felt the city was so safe that this was not an issue at all.
Fortunately the branch of the other bank I was going to was well equipped. There was an automatic deposit machine to deposit cash and there was another machine I could use to transfer the money. So I did not have to wait in the long line over there. I noticed that many local people waiting to get serviced there did not seem to do anything more significant than what I did but still would rather wait in the long line to get serviced. I guess they just did not trust the machine and felt "safer" with the bank teller. There is still a long way to go for the Chinese banks to facilitate the daily services and for the Chinese to get used to interfacing with machines rather than humans.
Personal banking in China could easily become a nightmare for people who are not used to waiting in line for half an hour to get serviced. The problem is that, most of the trasactions are cash transactions and there is no such thing as personal checks. Efforts have been made in different bank branches to enhance the self-services, but you may not have such luck in the bank you have account with and the particular bank branch you go to.
My company requires us to have an account in Bank of China for monthly deposit of salaries. However, Bank of China has much fewer branches by comparison to other banks in China and they are unbelievably poorly equipped. Yesterday, I went to the closest branch of Bank of China to transfer some money to another account at another bank. There was a long line of people ahead of me, but only two of the windows were open, the other windows were either closed or would only serve companies. I had to wait there for 40 minutes before my number was called only to be told that they couldn't do it unless the other bank was in another city. I don't understand what kind of policy that was. When I asked them why, they told me that they would only wire the money to another city. For the banks in the same city, you woule need to get cash here and walk over there to deposit it. Moreover, they added, there were more than 5,000 bank branches in Shanghai, the desitination bank had a branch ONLY two blocks away, why would I fuss about transfering the money? So here I was, carrying a paper bag full of cash in my hand like holding a takeout lunch, and walked all the way from this bank to the other. I wonder if people at Bank of China felt the city was so safe that this was not an issue at all.
Fortunately the branch of the other bank I was going to was well equipped. There was an automatic deposit machine to deposit cash and there was another machine I could use to transfer the money. So I did not have to wait in the long line over there. I noticed that many local people waiting to get serviced there did not seem to do anything more significant than what I did but still would rather wait in the long line to get serviced. I guess they just did not trust the machine and felt "safer" with the bank teller. There is still a long way to go for the Chinese banks to facilitate the daily services and for the Chinese to get used to interfacing with machines rather than humans.











