Foreigners opening bank accounts now need a minimum of 1 year left on their ARC

[wafflestop]

@Brianjones

Its probably because Taiwanese banks have been caught laundering money and most recently they stopped large bitcoin related movements of money.

And that was done by foreigners?

[wafflestop]

@disco99

The Taipei Fubon representative just called me back and told me that their HQ just retracted the memo and are now allowing new accounts to be opened again. (ARC must have a minimum of 6 months until expiration date.) If it really was a new government rule, how can their HQ just not follow it? I don’t know, sounds really weird to me. Anyways, everything sounds like back to normal for now. I’m still waiting to hear back from another bank I checked with to cross reference.

They always say it’s the government, new law, if they don’t know what else to say, it’s easy and difficult to check.

[Brianjones]

Moved from HK cos they blocked the transactions there then Taiwan banks blocked transactions in May.

Read it all online Google it. There are some very rich dudes playing around with bitcoin in Taiwan (or were when it was more lax banking )

[Laochris]

I opened a bank account today and they didn’t give me any hassle. I can speak intermediate Chinese however.

[BHL4life]

so did you fill out all the paperwork? doesn’t a lot of it need to be in chinese? not that i can really remember… i just remember i needed help but it was still a million times less painless and quicker than opening a bank back home.

[yyy]

@BHL4life

opening a bank back home.

Yeah, that one’s usually a pain.

[Deca]

@disco99

(ARC must have a minimum of 6 months until expiration date.

So this is the new standard`? One bank said 12 months, another said 6 months. Ofc the fact that you cannot renew ARC until there is only 1 month left makes the setup rather impractical.