Is On-Site Photo Required for Opening a USD Account? A Comprehensive Guide to the Truth and Details!

Is On-site Photo Required to Open a USD Account? A Comprehensive Guide to the Truth and Details

With the acceleration of global economic integration, an increasing number of individuals and businesses are engaging in cross-border financial activities. Whether for studying abroad, overseas investments, or international trade, having a USD-denominated bank account has become a necessity for many. However, during the account opening process, many people have noticed that banks often require on-site photo verification. Is this step truly necessary? What is behind this requirement? This article explores the truth based on recent policies and industry practices.

1. What is a USD Account?

A USD account is a bank account denominated in U.S. dollars, commonly offered by major Chinese commercial banks as part of their foreign exchange services. Such accounts can be used to receive overseas remittances, pay international fees, and conduct forex transactions. Due to the U.S. dollar’s dominant role in global trade and finance, USD accounts have become essential tools for managing cross-border funds.

2. Why Is On-site Photo Required?

Recently, many customers applying for USD accounts have reported being asked by bank staff to visit a branch in person for a photo and identity verification. This process has raised questions Is such a strict on-site verification really necessary for opening a USD account?

In fact, this is not a unique policy of individual banks but rather a result of tightened foreign exchange account management in recent years. According to the Implementation Rules of the Measures for the Administration of Individual Foreign Exchange issued by the State Administration of Foreign Exchange SAFE, financial institutions must strictly follow the Know Your Customer KYC principle when opening foreign exchange accounts, ensuring the authenticity of the client’s identity and the legality of the source of funds.

On-site photo capture is one of the concrete manifestations of this compliance requirement. In 2025, multiple commercial banks upgraded their risk control systems, intensifying the review of foreign exchange account openings and fund transfers. For example, Bank of China and Industrial and Commercial Bank of China ICBC clearly state on their official websites that first-time foreign exchange account applicants are advised to complete identity verification and image capture at the counter to ensure account security.

3. What Is the Purpose of On-site Photo Capture?

Banks require clients to take photos on-site for several key reasons

1. Verification of Identity Authenticity

Foreign exchange accounts involve cross-border capital flows, so banks must ensure that the account holder’s identity is genuine. On-site photo capture combined with ID verification helps prevent identity fraud and false account openings.

2. Anti-Money Laundering AML and Counter-Terrorist Financing CTF Requirements

International financial systems have increasingly stringent AML and CTF requirements. As a member of the Financial Action Task Force FATF, China must comply with international standards. On-site photo records help banks build complete customer profiles and meet regulatory obligations.

3. Account Security and Post-opening Management

On-site photo capture is not only part of the account opening process but also facilitates future account management. For instance, when clients request large transfers, report a lost card, or update account information, banks can cross-reference the original images to ensure operational security.

4. Do All Banks Require On-site Photo Capture?

While on-site photo capture has become a standard process for most banks, not all banks mandate that clients visit a branch in person. With the development of financial technology, some banks now offer alternative solutions such as online account opening combined with remote video verification.

For example, China Merchants Bank and Ping An Bank provide remote witnessing services through their mobile banking apps, allowing clients to complete identity verification and photo capture via video call. Clients simply upload their ID documents and connect with a remote customer service agent via the app to complete the process, without needing to visit a physical branch.

However, this remote account opening method is typically available only to existing bank customers. Some banks still require first-time foreign exchange account applicants to complete on-site verification.

5. Do Requirements Vary by Customer Type?

Yes, the account opening process can vary depending on the customer type

Individual Customers

Most banks require first-time USD account applicants to visit a branch for identity verification and photo capture. However, if the client already has a RMB account with the same bank and has completed real-name authentication, some banks may allow online applications.

Corporate Customers

Opening a USD account for a company is usually more complex. In addition to the legal representative’s on-site photo, the company must also provide documents such as a business license, tax registration certificate, and power of attorney, and undergo due diligence by the bank.

VIP or Special Channel Customers

Some banks offer home service or streamlined processes for high-net-worth clients or those referred through specific channels e.g., partner institutions. However, identity verification and image capture are still required.

6. How Should Customers Choose an Account Opening Method?

If you plan to open a USD account, here are some practical suggestions

1. Consult the Bank in Advance

Different banks may have different requirements. Call the bank's customer service or check its official website for the latest procedures.

2. Prepare Relevant Documents

Whether opening an account online or in person, you will need valid identification, a bank card, and possibly documentation regarding the purpose of the funds.

3. Prioritize Banks Where You Already Have an Account

If you already have a RMB account with a bank and have completed real-name authentication, it may be easier to open a USD account through the online process.

4. Monitor Mobile Banking App Updates

Many banks are accelerating digital transformation, and new features may be quietly launched on their apps. Staying updated can help save time.

7. Conclusion

Whether or not on-site photo capture is required to open a USD account depends on various factors, including the bank’s risk control policies, the customer type, and whether the customer already has an existing account. While most banks still require in-person verification, an increasing number are adopting remote video verification to enhance customer experience.

In the face of increasingly stringent financial regulations, enhanced identity verification and account management are inevitable trends. For customers, understanding and cooperating with these procedures not only improves account opening efficiency but also enhances fund security. Looking ahead, as financial technology continues to evolve, the account opening process is likely to become more convenient and efficient.