One of China’s first internet banks, founded with Ant Group as lead shareholder. It mainly serves micro-merchants and sole proprietors, deeply bound to the Alipay and Taobao merchant ecosystem.
Requires a mainland Chinese ID, a mainland mobile number and a verified Alipay account. Foreigners generally cannot open it.
MYbank is online-only and requires a mainland ID card plus a real-name Alipay account; foreigners usually cannot open one. Foreigners can use traditional bank branches with a passport + valid visa or residence permit (see the other banks on this page).
These are stable, standing account benefits (not time-limited) — available as long as you qualify:
No. It requires a mainland Chinese ID, a mainland mobile number and a verified Alipay account; foreigners generally cannot open it.
No initial deposit is required and the account can be opened at zero.
Mainland Chinese resident ID, a mainland mobile number in your name, a mainland bank card and a verified Alipay account.
About 5–10 minutes online, usually effective immediately.
Common reasons: ID does not match face recognition, the mobile number is not in your name, Alipay is not verified, or risk checks fail.
Standing benefits: No Monthly Fee, No Min Deposit, Fully Online, Digital Bank, Fast Approval. Promotions change by region and quarter — always check the bank's official promo page (verified 2026-10).
Having documents ready lowers the chance of rejection; policies change, so confirm with the bank before applying.