How to open a bank account for foreigners in Taiwan

Step 1 – Prepare the documents and items below

  • -ARC/APRC/GoldCard
    • Make sure that your card has your address printed on the front
  • -Stamp/seal/chop of your Chinese name
    • Prepare this beforehand. Go to a chop from local key / chop makers. It takes two days to complete this step. If you have an official Chinese name, or if you have been given a Chinese name by your school or friends. If you don’t have Chinese name or do not prefer to have one, get a chop with your English name.
  • -Passport

 

Step 2 – Open a bank account

Opening a bank account is challenging in Taiwan. Choose one that’s closest to your home. Banks sometimes refuse to open accounts who live far from their branch. Bank staff will ask for your documents.

  • -Explain why you need a bank account – is it for business or personal? Explain why are you in Taiwan and how long have you been here.
  • -Ask to enable internet banking, it is not unless you specifically request.
  • -Ask for debit card if one is available. This allows you to get points for usage.
  • -Ask for international ATM access, this is not activated for use in your country unless you specifically request.

We recently released a case study about the archaic Taiwan banking system – read it here for free.

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Last updated on November 1st, 2021