How to Open a Genuine US Bank Account in China: East West Bank Velo Online Guide (Get $20 Bonus)

For cross-border E-commerce sellers, affiliate marketers, and US stock investors, a real US bank account is essential for global operations. This guide breaks down opening an East West Bank Velo account online—no US visa or SSN required, just a Chinese passport/ID. Includes fee comparisons and step-by-step instructions. Official Website

How to Open a Genuine US Bank Account in China: East West Bank Velo Online Guide (Get Bonus)

1. Who Needs a Velo Global Account? Ideal Users

✅ Cross-Border Professionals:

Amazon/Shopify Sellers: Directly receive platform payments, avoid third-party transfer fees
Affiliate Marketers: Seamlessly collect US affiliate commissions (e.g., ShareASale, CJ)
US Stock Investors: Link to brokerage accounts for free fund transfers

✅ No-Hassle Eligibility:

No US Visa/Address: Apply via mobile app, open to all Chinese residents over 18
Real Bank Account: Unlike Payoneer virtual accounts, supports wire transfers, checks, and ATM withdrawals
Credit Building: Apply for a secured credit card to start a US credit history

⚠️ Note: Global Checking requires a $25,000 minimum balance, best for established entrepreneurs

2. Velo’s 3 Key Advantages Over Competitors

Feature	Velo Global Account	Traditional US Bank	Virtual Accounts (e.g., Payoneer)
Opening Reqs	Chinese passport/ID+phone	US SSN+address+visa	Just an email
Account Type	Real US tier-1 bank account	In-person or complex docs	Third-party virtual sub-account
Functions	Wire transfer/check/credit	Full banking privileges	Limited cross-border payments
Minimum Deposit	$25,000 ($300 for students)	$100-$1,000 typical	None

3. 4 Account Types: Which Fits You?

1. Global Checking (Velo Exclusive)

Key Features:
- 0.3-0.5% APY, Zelle instant transfer, mobile check deposit
- Visa debit card available, free first 2 ATM withdrawals in China
Fees:
- $300 opening fee (refundable for Velo Gold), $25 monthly fee (if balance <$25k)
- $10 incoming wire fee, $40 outgoing wire fee (USD zone)

2. Global Student Account (For Scholars)

Student Benefits:
- $300 minimum deposit, waived monthly fee with valid student visa
- Exclusive merchant discounts, 1 free incoming wire per month
Required Docs:
- F-1/M-1/J-1 visa or enrollment letter, age 17+

3. Value Checking (US Residents Only)

Restrictions:
- Requires SSN/ITIN, only NY residents qualify for $25 low opening deposit
- No interest, $5 monthly fee (waived with balance requirements)

4. Premier Savings (For Growth)

Earning Potential:
- Daily compounded floating interest, ATM access via linked checking
- $3 monthly fee (waived with $2,500 balance)

4. Step-by-Step Opening Process: 5-Min Mobile Application

❶ Download the Official App

iOS: Search “Velo by East West Bank” on App Store
Android: Download from the bank’s official website to avoid security risks
Download the client from Google Play
Download the client from Tencent App Store

How to Open a Genuine US Bank Account in China: East West Bank Velo Online Guide (Get Bonus)

❷ Sign Up & Apply with Bonus Code

Use referral code YUN51559C01 for a $20 welcome bonus
Select “Non-US Taxpayer” and “China” as nationality

❸ Submit Documents (Fully in Chinese)

Upload passport/ID (passport recommended for higher approval)
Verify phone number and link a Common email as username
Choose account type: Global Checking/Student Account

❹ Fund Your Account (Within 60 Days)

Wire transfer/Alipay Cross-border (70% success rate, Wise recommended for reliability)
PayPal Withdrawal: $35 fee for non-US accounts, Velo reduces intermediary charges

5. FAQs & Pitfalls to Avoid

❓ Q1: Can I open an account without $25,000?
✅ Student account only needs $300 with a valid visa; for others, consider Wise (no deposit required, supports 40+ currencies).

❓ Q2: How to minimize wire transfer fees?
✅ Choose CA/NY accounts for $12 low-cost transfers to China; Velo Gold members waive incoming fees.

❓ Q3: How to get a physical card?
✅ Request a Visa debit card in the app, shipped to China address (2-week delivery), supports UnionPay ATMs (¥10,000 daily limit).

6. Alternative: Wise for Low-Threshold US Finance

If Velo’s deposit is too high, sign up for Wise (formerly TransferWise):

Key Benefits:
- $0 opening fee/deposit, 8+ real currency accounts (USD, GBP, etc.)
- As low as 0.43% transfer fees, real-time exchange rates, faster than banks
Use Cases: Small Cross-border payment，e-commerce withdrawals, international tuition

7. Conclusion: 3 Steps to Your US Financial Account

Assess Needs: Choose Velo (high balance) or Wise (lightweight) based on your business scale
Prepare Docs: Passport/ID+phone+email (students add visa/letter)
Apply Now: Use the referral code for $20 bonus, fund your account within 60 days

A US bank account is more than a financial tool—it’s a gateway to global business. Follow this guide to avoid common mistakes and set up your international financial hub efficiently!

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