How about opening a HSBC account here in Malaysia ? I normally use my HSBC ATM card for emergency cash withdrawal overseas. For normal account and also HSBC Advance Account (RM20k to open and maintain HSBC Advance), you will be charged RM5/withdrawal at HSBC and also Hang Seng Bank overseas. For HSBC Premier, it is free.

Another choice of course would be Citibank. And Citibank doesn't charge you withdrawal fee at their overseas Citibank ATM even for a normal banking account. However, in terms of branch presence in China, HSBC Group is the clear winner here.

Oh yeah, would you be able to open a Bank of China account in China ? Last time i heard it is possible to wire money to an individual account from Bank of China Malaysia branch to Bank of China Mainland China. May be you can save a bit on transaction fees but you might need to trouble your friend or family to wire the money over to you. The simplest way would be to just open a HSBC or Citibank account in Malaysia.

Haha. Don't worry. You can just open a HSBC Basic Savings Account with RM20. You do not have to pay the VISA debit card (HSBC no longer issue normal ATM card) annual fee and it comes with 8 free ATM cash withdrawal per month (local) 

fruitie

Okay, I am here, like I mentioned in OCBC Thread, check out Bank of China UnionPay card. It is a debit card and you can get one in Malaysia.

Link below for their branches:

http://www.bankofchina.com/my/en/aboutus/ab3/

Besides HSBC as Miles mentioned, you can also go open a Citibank Account locally (RM10) and then you have two choices to transfer money to China since it looks like there are many Citibank branches in Beijing and Shanghai.

1.  Open Citibank Account in China and then perform Global Transfer online where funds are transferred immediately (max USD10K/day), i.e. you click transfer in your Malaysia Account and the amount will show up instantly in your China Citi acct.  Confirmed here China in the list for Citi Online Global transfer.

2. Use your Citi Bank Debit Card and withdraw from Citibank ATMs in China.

In my article Melbourne Victoria Australia, I showed that I got better conversion rate with Citi Global Transfer compared to withdrawing cash at Citi ATM.

But I still think better choice is going with Bank of China UnionPay where you can easily access  to your cash. Go check your M2U and see if you can transfer (giro) to Bank of China Malaysia. Come to think of it, be kiasu like me - go open account with both Citibank and  BOC here.

If you go google UnionPay, it says that there  are 5 million ATM accepting them!!! I guess you won't have any problems withdrawing cash in China with UnionPay Card. And by the way, I was in SG ION Orchard and not mistaken they have lounge for UnionPay customers (not sure what card only entitles one to enter) there!!!

Well, if you cannot open savings account in China, with the 3 debit cards, I suppose you will have no problems getting cash from ATMs.

If you do not want the assignment, please  recommend me to your boss, I don't mind 3 months contract   

I guess you answered yourself which BOC Debit card to get.

But like you said, better option to get ICBC Union Pay Debit Card as can transfer fund with M2U. So now you can add another Debit Card to your collection  And then write a review of using them in China as a guest columnist in my blog, hahahahaha And if you getting the ICBC Debit Card, might as get their credit card too 

come 2015, you  need your PIN when purchasing stuff. No more signature.

Stick to ATM (Cirrus of Plus). Better than bringing wads of cash.

hahaha, why you never check if Citi got branch in Seremban. As for HSBC, only MilesAndMore likes them (JK sifu Miles)i whereas I don't have any HSBC banking accounts since they don't offer any FD promos to existing customers. But I got a HSBC Australia Debit card with my Transaction Account (no interest acct) and it has less than AUD10 in it, hahaha.

And maybe you should go complain with BNM and say that HSBC has this stupid policy where one needs to have some investment plan with them to open a normal Savings Account. This is too much, it's like blackmail, yes, go make complain, I support you 

I can confirm here and now that Citibank no need purchase any investment plan to sign up for a Savings Account. All you have to do is deposit very nominal sum (I think my daughter's account has less than RM15 in it) and you'll be issued the Citibank Debit Card on the spot. Now, now, all their Debit cards' 16 digit numbers are pre-embossed (more like printed) , so if you like can be extra nice to the person issuing the card (example, wah you hair very nice or nice watch you got there or if he's a guy, call him leng chai), he/she might just let you choose the number you like     As you know I am a freaking nice person, so I got to choose Citi debit card numbers for my wife, son, daughter and myself, hahahaha.

Wednesday go to ICBC and Citi to open their Savings Account. Both have branches in KL and Puchong (check their website for branches location).

On by the way, don't forget, if you wish to give up your China assignment, please recommend me to your boss to replace you. And since you going to China, maybe you should recommend to Admin that I stand in for you here as staff until you get back

Fake Citi adress, hahahaha

Oh yes, opening a Citi Account really time consuming, can take up to 1 hour or more. Foreign banks like Citi has to be careful because US government suka suka can fine banks for this and that.

But once you open a Citi banking account, next time easy to open another account as all your info in their system. But, I must warn you, never deposit your money with Citibank FD/Term Deposit. Click here to read my article Privilege Premier Priority where I mentioned a Citi customer called Citibank - Shittybank, because she could not withdraw her FD as no personal banker was around!!!

Last Time I Remember I When I Open My Citibank Basic Saving Account at 2007-08 (the when Year the World Economic Meltdown Crisis)...   
When the Citibank almost Bankrupt at that time, They Have to Interviewed me on Background Checking for almost 1 hrs for that...  

Have a try 1st with Citibank... U Never Try,  U Never Know

No need CitiGold to have Citi Savings Account. Both my son and daughter are students and they have their own Citi Savings Account. The thing is this, the person who is opening your Citibank account is a Personal Banker and his main income is from selling Citi products to their customers besides having a monthly quota of RMx deposit (I can't remember the exact amount). So yes, they prefer if the customer sign up for CitiGold status BUT it is still part of their service to open new account for other customers who are not into CitiGold.

But like Miles said, better go early and experience their wonderful global service   

Come to thing of it, better you go to ICBC and get your account up and running and if got time only go to Citi because I feel the ICBC card would be adequate for your China assignment. Citi only as backup and may not even be necessary as zenquix mentioned, we still can withdraw cash with our local bank Visa or MasterCard Credit Card that has the Cirrus or Plus logo.

Made a typo, don't use credit card to withdraw cash. I edited my earlier post, should be read as our local bank DEBIT card with the Cirrus and Plus logo.

Most of our local bank debit cards have Plus or Cirrus logo.

UOB Debit Card MasterCard has Cirrus logo and I have used it in US where the conversion rate is the same as spot rate but every withdrawal will cost me RM12. And UOB debit card got a daily limit of RM1K only!!!

My MBB Platinum Debit MasterCard has the Cirrus logo too. Can't remember what is my daily withdrawal limit. Actually I don't even remember the password, hahaha. I got it because I wanted the Maybank Online Savings Account that pays reasonable interest rate for amount above RM2K. Go check what fee is imposed for overseas withdrawal.

My RHB Debit MasterCard useless as only got BankCard logo, can't withdraw a sen with it when I was in USA. But my RHB Premier Visa Debit Card got Plus logo. So I guess RHB out.

My Alliance Bank MasterCard Debit Card has the Cirrus logo. Never used it overseas so got no idea if any fee.

My local Citibank Visa Debit Card has the Plus logo. Also check with Citibank how much it will cost you per withdrawal (even with Citi ATM in China). Citibank told me no charges if I withdraw from Citi ATM, well guess what, I was charged RM10 per withdrawal when I used it in Melbourne Citibank Chinatown ATM.

Conclusion - firstly go get a MBB MasterCard Debit Card that has Cirrus logo and another Debit Card that has Plus logo (e.g. Citibank).

oh, I forgot, you must go get the coolest Debit Card on Planet Earth where I believe it should have the Plus logo and this card will be accepted even if your company sent you on a intergalactic assignment   

The beauty of a Debit Card is that you can control your damage, i.e. only deposit the amount you need into the account that is linked to the card. Not sure for China but it Australia we need to key in the PIN number when using Debit Card to pay for stuff at outlets; however, recently at Woolworths (one of the 2 biggest supermarket in Oz) one do not need to key in the PIN if amount less than AUD30.

Just like credit cards, guard your debit cards with your life 

Yes, I think that is best.

ICBC UnionPay Debit Card.

Citibank Visa Debit Card with Plus Logo - new Savings Acct nominal amount to open. Just go deposit RM50 when the Personal Banker ask you how much you want deposit. Say you will transfer later from M2U.

Hong Leong Bank Transformer Visa Debit Card with Plus Logo - new Savings Acct with RM1K deposit but you can withdraw next day I believe but must maintain RM10 but better you check with them, I might be wrong here.

UOB MasterCard with Cirrus Logo - New Savings Accout with RM450 deposit I think but can go withdraw next day. This card good if lost, withdrawal limit only RM1K/day.

Transfer only the amount required from M2U account to the above cards.