A bank for a frequent traveller?


#1

Hey guys and gals!

Hope everyone is fairing well and has enjoyed their weekend.
Just a quick question to ask about Taiwan banks (I know there are similar threads but reading them, I’m getting mixed feedback on this).

I am not moving to Taiwan yet, or within the next few years, but might be when I end up rolling my sleeves up and marrying my fiance.

But I have roughly 400,000 TWD in Australia, her family is going to help me get my money to Taiwan as its limited pp.

But once its there, where can I store it? I have just a standard ID number from the NIA and visit the country 3-6 times a year.

Is it possible to convince any bank to accept my money on a tourist visa? Or will I be shoe-boxing it under the floorboards?

Thanks everyone and Im looking forward to hearing your thought and opinions.

Regards;
Joe


#2

You shouldn’t have any problem opening a bank account using the piece of paper with the ID number you got from NIA but if you’re only going to be visiting Taiwan 3-6 times a year why not open a Citibank Plus account which is a fee-free account including fee-free overseas ATM cash withdrawals. I have one and it worked great for my time in China. My account got frozen once because I was going around trying different ATMs. I called up, answered a few security questions and the block got lifted no problem. Didn’t have to wait too long on hold. Just note that there are no in-person teller facilities for Citibank Australia nationwide. The branch in Melbourne CBD I was told is mainly for wealth-management services or if you want to make a deposit over $250,000.


#3

Yea I have a good old Citibank account, they truly are amazing. Have saved me dollar bills over the years.

Just wanted somewhere to put my twd notes thats all :slight_smile:

And hopefully somewhere with a debit card or so on.

But thanks again for your reply mate :slight_smile:


#4

Guess you could just go with Citibank Taiwan, it would be fitting.


#5

Lol they have exuberant fees if i dont store 3mil Twd lol


#6

can also consider HSBC. Quite a number of branches in Taiwan, and of course in Hong Kong (headquarters) and elsewhere throughout Asia. Even with its basic bank account you can convert money into various currencies (like 15 or more) online and with no fee.