Bank Security in Taiwan

Taiwan Living in Taiwan
1

Hi everyone, it’s been a while since I’ve made a post here.

I wanted to ask everyone about the bank security here in Taiwan. Currently I have an account with First Bank and I’m concerned of security issues with my account. In particular, I’m very interested to know how banks in Taiwan handle any sort of hacking or stealing from an account directly (such as fake ID’s, or using a fake ATM card with your password）.

I know the likeliness of such events is low, but as I grow in my career and save more and more money, I want to make sure that my bank account is secure.

Do any of you go out and buy any additional insurance to protect yourselves as well from this type of thing?

And in case anyone is wondering, First Bank is tied to my employers payroll account, so I can’t really get rid of it per se.

2

You can constantly change your ATM pin code as well as your online banking login info.

I have an account with Cathay United Bank and they ask me to change my online banking login name and password every 3 months. I’ve already given up on using their online banking for this reason because I’m not on there that often.

At the ATM, you can cover the entire pin pad with your body and input your code. This way you know nobody is looking.

3

Old school way, always update your transaction book at the machine. It’s a hard copy in case you need to prove something.

4

Update your transaction book??

5

I find a nice article in this topic:

Security isn’t even an afterthought: Taiwan’s online banking

6

So what you’re trying to say is, spend all my moneys now because it’ll eventually get stolen.

No problem with that!

7

Is simply not using online banking in Taiwan enough to be protected?
If not, what’s the interim solution?
With such non-existent security, how come millions of dollars hasn’t already been stolen? We’d be hearing about it all over.