Feel I had to post this testimonial somewhere since it just happened and might help someone (from the US) in the future.
I just opened an account with Cathay United Bank which took me 14:00 to 30 minutes past closing.
Initially, I went to this particular branch because of their partnership with my school which allows them to bypass their Anti-Money Laundering laws (I tried another Cathay Bank and they didn’t let me without this partnership). The front person stated I needed my (original) Social Security Card so I followed and had my mother mail it to me. This took 35 days.
When I had everything ready, I went and waited an hour (it’s very busy… always …) to see the account clerk.
It’s pretty easy and the sad thing is is that she didn’t require my SSN Card … at all.
But anyway, I furnished the following:
ARC
Valid Passport
Your SSN number from memory (not the card)
Seal/Stamp with the same name on your ARC
Mobile phone to download their APP
at least $1 NTD to deposit
With that, you just wait and sit in front of the clerk and watch them work.
In the end, I obtained an ATM/Yo-Yo card, a passbook and pressure sores on my rear (HAHA, jk).
I didn’t need a seal at Cathay, and at the post office I could choose signature over sign, with the caveat that I can only withdraw money in person at that particular branch (ATM withdrawals are possible anywhere, so no big issue for me).
I always used a seal because when I signed, many bank employees made me sign four or more times to get it right. A stamp is one and done. But then I lost the stamp and had to pay the post office $50 to update it to a new one
My experience: Two years ago I opened a regular savings account, foreign currency account, and an insurance investment account at Cathay. Got an ATM card as well as an unsecured credit card with 100k limit (I was surprised about that last one). The entire process took over 90 minutes, which seems to be the norm here. I brought my chop but didn’t need it.
I’ve been happy with everything, especially the app where I can keep track of my accounts and pay my credit card bill.
Online banking on the is available in English. It’s a little tricky on how to access it, you have to go into the online banking page (with the login) and then click the EN button on top. If you do it on any other page it just takes you to a generic information site. I think this links directly to it…
Once you click the EN button, it should remember it if you have your cookies set up to do so.
I don’t believe the mobile app has any English option.
No seals required for Cathay or SC in Taiwan. Cathay costco CC is simplest, if you have a well paying job and sufficient balance in some bank account. Just walk-in into any Costco and apply.
The big advantage of the “local” Cathay card in the arcane financial systems here, is that you can use that card at all the stingy local places which don’t allow non-local bank cards. Eg. 7-11, Family mart, QBurger, etc
