however, most online banking functions in Taiwan which involves transfer of money to another bank account (not your own Chinatrust bank account or credit cards) requires some “OTP” security deal and I’ve never managed to get them to work and the banks just don’t care. A lot of those stuff requires Internet Explorer running on Windows, meaning if you’re using a Mac you’re SOL. There’s also online ATM which requires a IC card reader, and those software will also only run on Windows with Internet Explorer… Firefox, Safari, etc. won’t work.
Otherwise their online banking function is good for checking your account to see if someone has wired you the money they promised, paying your credit card bills (if its with that bank), etc.
English-language online banking is very unlikely. That said, I’ve never actually found the need for online banking in Taiwan - if you need to pay a bill or something, you can do it at 7-11.
I have an account with Huanan but their English version of online banking is very basic. Then I discovered HSBC, great online banking especially for Premier Banking because you can do international transfers between your accounts in different countries free. You may even be able to open an account before you move to that country in some cases. ATMs are quite easily found too.
I have a Citi credit card whose balance I’m in the process of paying off.
I may not have understood correctly, but I believe I was told that one can keep USD in a Citi Taiwan account.
If this is correct, it may have significance for my international transfer needs. It may eliminate them If I did transfer money to my bank account in the US, it would be for the purpose of paying off the Citi credit card + student loan account. Historically, I make these payments directly from my bank account in the US. I have a Korean bank account as well, but the account only contains KW. So when I was working in Korea I would periodically transfer from it to the US and then make the payment.
I will probably just visit Citi today and ask about this. But if you have feedback as a client, do feel welcome to speak.
I also noticed that it says “Because it is an international bank, you can be assured there will be an English-capable team with great service to back you.” for all international banks. It even concludes:
The obvious best choice would be to use an international bank such as Standard Chartered 渣打國際商業銀行, HSBC 滙豐銀行, DBS Bank 星展銀行, or Citi Bank 花旗銀行, but they usually have high thresholds and don’t allow just any average Joe or Jane to walk in and open an account. For most of us average foreigners, we can only choose from the best of the local banks. Sometimes we are even forced to open an account at a certain bank by our employer.
I remember reading about different experiences on some of them around here…
I’ve read on here that people don’t care for Richart, but I’ve been really happy with my experience so far. I’m aware you can’t use the app, but I wouldn’t do any banking, other than checking a balance, on my phone anyway. The website is easy to use, I like the 5 free transfers and withdrawals per month (not that it’s very expensive or anything).
I was even able to easily wire myself cash TW->US. The biggest downside is that it seems there is a max transfer of $1,500USD using the website so paying a wiring fee of $15USD from my Richart account and my US account means losing 2% of my money every time and that’s a big waste. I would imagine I could send a larger amount if I went into the physical bank though, haven’t checked yet.
You can even request a new card and set it up without stepping into a bank which is nice. I miss my first year of 5% interest rate, that was such a nice bonus compared to the current ~.7%.
I think most of that sentiment is based on how they first promised the “first foreigner friendly” bank, only to initially reject all applications because they didn’t believe the applicants to have no tax-residency outside Taiwan
But glad to hear that their bank account works for you. (I sometimes use mine to get money from an ATM for which I don’t have a bank account - the 5 free withdrawals per month can be quite convenient sometimes).
If I did transfer money to my bank account in the US, it would be for the purpose of paying off the Citi credit card + student loan account. Historically, I make these payments directly from my bank account in the US. I have a Korean bank account as well, but the account only contains KW. So when I was working in Korea I would periodically transfer from it to the US and then make the payment.