Citibank exiting Taiwan

This news might be relevant for some people here…

It seems Citibank has just announced that it will close it’s retail banking operations in a whole load of markets, especially around Asia, and this includes Taiwan.

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It always seemed like kind of an odd bird.

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They were in the news just a few months ago:

Guy

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Oh darn. So when am I going to have to look for a new credit card? Time to pay attention to the good credit card thread again I guess.

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I have my biz account there. Thanks for posting the news because I had missed it. Which bank is the best to consider? I’d enjoy an English app.

HSBC if you have > 3 million NTD, otherwise Standard Chartered.

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NO! They’re renewing my credit card!

They just sent me a text asking to verify my address for credit card renewal!

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Maybe they’re selling off the customer-base to one of their competitors that will take over some bank accounts and credit cards?
Wouldn’t have to be a bad thing for most customers probably.

Oh yeah, so then Chen Laoban can see the laowai on it and automatically deduct my score by 50%

That sucks! My plan for retirement in Taiwan was to move money from my US investments to my US Citibank account and transfer over to a TW Citibank account. I hate HSBC but that might be my only option for this scenario.

Good F’ing riddance. One down, more to go.

Weird, HSBC is doing the opposite. They’re making moves in Asia.

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Aren’t these the guys potentially exposed in the Huawei CFO debacle? I’d be careful with these guys . . .

Guy

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Im happy if they are gone in tw! They were the rudest to me as a newbie in tw.

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And I just told my wife to open a Citi account in Taiwan so we can transfer money easily from the U.S. with Citibank’s “global transfer” feature. Now I’ll tell her to “nevermind.”

Soon I’ll post asking “what’s the easiest / cheapest / fastest way to transfer money from the U.S. to Taiwan?”

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They’ve just started running a promo through LINE Pay for their credit card service. I suppose it’s possible to keep parts of the business that are doing well.

Quote from Citibank to exit consumer banking in Taiwan:

Taiwan’s Financial Supervisory Commission (FSC) said the bank would search for a buyer for its consumer banking operations. It also promised to ensure the rights of all clients and employees of the company.

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Can’t imagine their credit card business would be very profitable here…

HSBC is exiting US consumer banking, so this option might also go away in the future.

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Maybe apply for one at First Bank?