An internet bank founded by New Hope Group, Xiaomi and others, focused on online consumer finance and micro-lending, with deposits distributed mainly through online channels.
Requires a mainland Chinese ID and a mainland bank card, all online. Foreigners generally cannot open it.
XWBank is online-only and requires a mainland ID card and bank card; 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 and a mainland bank card; 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 and a mainland bank card.
About 5–10 minutes online, usually effective immediately.
Common reasons: ID does not match verification, the mobile number is not in your name, card verification fails, 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.