Below are the banks near PKU where you can set up a bank account as soon as you arrive in Beijing:

• Bank of China (中国银行) - most recommended
  1 minute walking distance from the South West Gate

• Bank of Beijing (北京银行)
  2 minutes walking distance from the East Gate or the South West Gate

• China Construction Bank (中国建设银行)
  5 minutes walking distance from the South Gate

• Industrial and Commercial Bank of China (中国工商银行)
  On campus

• Agricultural Bank of China (中国农业银行)
  On campus

You can convert the foreign currencies of Pound Sterling, Hong Kong Dollar, American Dollar, Euro, Japanese Yen, Canadian Dollar and Australian Dollar into RMB in any of these banks. When you have opened a bank account in one of these banks, you can deposit foreign currencies directly into that bank account of yours.

It is required that you present your passport to the bank staffs when you open a bank account /and when you exchange currencies. In addition to that, remember to apply or ask for a UnionPay Card.
The UnionPay Card functions as a Debit Card, it enables you to transfer money from your saving/checking account directly to the recipient’s account and it is commonly used in Beijing.

Students are recommended to first open a bank account in Beijing, convert foreign currencies into RMB, and then make their tuition fee payment to PKU via Bank Card.