American new to Taipei, without ARC, having banking issues

Having serious banking issues without arc card… i just moved here to live and i want to travel and relax before making a business to get my resident card.
My research says all banks can open an account for me, but alot will refuse. I have went to 24 banks and im wasting alot of time… i have usa cashiers checks to deposit into an account and they are treated like toxic poison. So im new to tw and the cash i brought will be gone soon, homeless and broke welcome to tw!!

Does any have an idea , oh i will answer questions
I know what FACTA is
Thanks, im sure i missed a detail

Did you go to immigration and get a paper called the record of ID in ROC.? It has a number on it that some banks will allow you to use to open an account.

Although recently the banks have become excessively anal about opening new accounts for foreigners, they see money launderers everywhere now whereas before they opened accounts willy nilly for everyone.

I’d suggest bank of Taiwan if you’re having trouble preferably one near a university where they get foreign students opening an account that often dont have an ARC yet.

They don’t like American cheques because they take a lot of time to clear and are considered as high risk by the bank especially if you want to open an account as a new customer and then immediately deposit them. Again I’d look at government banks… Bank of Taiwan, Land Bank, Huanan, First Bank. They are more likely to accept what you are asking for.


Why not just use your American ATM card and get cash directly? Fee is quite low.

I was in a similar situation when I first came to Taiwan. Most grocery stores with accept American credit cards (your credit card will change you a fee of about 5%). I ate mostly packaged food my first month here. Then, I discovered the record of ID that @dan2006 mentioned. It really works. I opened an account with the post office. But I’ve never cashed a cashier’s check.

If you’re going to use an American ATM card to withdraw cash first like @Marco mentioned, call your bank first. Some banks block foreign transactions unless you let them know ahead of time. I got ATM card locked because I tried to use it without telling them first.

1 Like

I hope you have US travelers checks and not cashier checks… a cashiers check in the States is basically treated like cash - NOT IN TW! If you do find a bank that will accept a “Cashiers Check” they will most probably wait until they actually receive the cash from the US bank before giving it to you - could be wks before you get the funds. “Traveler Checks”, on the other hand, are treated like cash and any major bank should be able to exchange them - its good for the tourism biz (i.e. American Express travelers checks)… all you should need is your passport.

He mentioned cashier’s checks so like you said it takes a long time to clear. I deposited one many years ago and it took a month to see the cash.

To OP if it’s a cashier check I’d do it in two stages. Step 1 open the account as above but don’t tell them you want to deposit those checks or they will refuse an account. Wait until the account is open and go in the day after to put it in. You’re gonna wait a long while.

Even better courier it back to a friend in USA to deposit it into a local bank and use your American ATM card to get the cash here.

Many US banks allow remote check deposit via app by taking photos of the check. You can find a bank that offers zero-fee international ATM withdrawals and zero-fee international CC transactions (like Capital One) and not have to rely on the local banking system at all.

Yes i have the record of number from immigration i missed posting that information. Its no ARC 101
I have gone to BOT and been refused, arent there as many colleges here as bank i feel they go hand in hand.

Im not going back to usa, i took my money with me in cashiers checks thinking it was the best way to travel with my money

They are cashiers checks…

I have left USA, and not going back

Thats a good idea, but asking around i have had a bank say yes to a nt account but no to cashing period, and i have heard 6 months to clear ( that is wack in this new world) and im ok with a month .

The situation is my money is low now, if i open a couple accounts to then see who with later cash my check it can be a little risky with minimum balance requirements

Do you have any USA account still open? Like bananas below said they habe mobile check deposit and if you have the us atm card you can get the money at an ATM here.

Failing that it is bulls* that BOT says they can’t open an account. Go back in and demand that they call Taipei to clarify.
I went to first bank last month and the girl insisted on my passport which I didn’t bring. The rules changed lately and they don’t need a passport but she insisted.
I said call taipei and didn’t move. She did reluctantly and they said she was wrong. She then opened the account with a big scowl on her face.

If all else fails contact the FSC Taiwan, it’s the financial regulator on their website contact form and let them know your issue. They will liase with the bank for you. They are very helpful.

No USA account ,
Ok FSC taiwan is getting a call from me ,good intel!

Take the last of your money, buy a one-way ticket to Guam. Go enjoy a little vacation there for a couple days. Cash your checks there. Buy a one-way ticket back to Taiwan and bring the cash with you. If the cash is too much and you are worried about “safety” convert it to traveler’s checks while in Guam.


Its not small money , i sold my house and business … but guam sounds cool

Sorry what does call taipei mean?

Best advice yet, but first call a bank in Guam to double check if its workable. And you’ll probably have to present your remaining TW outward bond ticket to get back in under a visa waiver…

Probably, might be a good idea to open account while your there with ATM access if the funds are over the TW limit to bring personally…or you could mail some “travellers checks” back to Taiwan…

Anyway - welcome to Asia - you’re not in Kansas anymore Dorthy…

Call Taipei means tell them to call their headquarters in Taipei for direction .
I find the average girl behind the counter has no idea of relevant regulations and just wants to finish her day with the least possible hassle. You asking for an account with no arc and checks from America are high risk and is above her pay grade so she will just say no as if anything goes wrong it will be her ass on the line.
Or just ask for the manager to talk to.

I will research guam thanks