Do you like Cathay United Bank's services?

Business Money
1

Would you say it is one of the better banks in Taiwan? Are you able to close foreign currency accounts online?

2

as far as local banks go, yes. I do like them.

Fubon and Cathay United are the best, followed by Esun, and tbh the post office if u need basic banking services.

3

I have had good banking with Taiwan Co Operative bank for both personal and business.

4

No complaints from me. Here is what I like about them:

  • Well-designed and user-friendly app, with an option to switch to English for the basic services (viewing balance, transaction history, and making transfers)

  • ATMs are everywhere, including most convenience stores (at least around where I live)

  • Their bank cards have the ability to be linked to Apple Pay on my iPhone and Apple Watch

  • Their bank cards are also EasyCards, with automatic balance-loading function

What I donā€™t like about them:

When you open your account with them, you need to first make an appointment on their website for at least the following day. They do not accept walk-ins or same-day appointments.

They will make it VERY difficult for you to open an account, and come up with as many excuses as possible to turn you away. This is mostly due to legal due diligence. To be fair, this happened to me at basically all banks I tried to open an account with in Taiwan. You just need to stay calm, donā€™t get frustrated by them, and insist you proceed with opening the account. It will help to prepare some good answers to why you chose them over other banks.

My conversation went something like this:

Them: Why did you choose our bank?

Me: I like the simplicity and user-friendliness of your app.

Them: How do you know itā€™s user-friendly if you have never used it?

Me: I have seen the screenshots in the App Store, and read through the reviews, and that was sufficient for me to make my decision.

Them: What are you mostly going to do with this account?

Me: Mostly transfer rent to my landlord.

Them: Do they also have an account with us?

Me: No.

Them: They why donā€™t you open an account with their bank? You do realize you will need to pay a transaction fee each time you make an inter-bank transfer, right?

Me: $15 is nothing to me. I am rolling in dough.

Them: I donā€™t think this is the right bank for you.

Me: Well, Iā€™m already here. I donā€™t want to travel to another bank.

Them: Welcome aboard.

6 Likes
5

I did open one yr ago as a walk in

that is true, and my Chinese at the time was quite rubbish still, but I warmed them up and eventually they opened the account for me and got even the nice officer helping me to set up the pin of the card.

They r just cold at the beginning, then they r good. No complain.

6

I notice that Cathay United Bank tends to ask clients lots of questions in generalā€¦to the point at which it becomes irritating

1 Like
7

For Cathay United Bank, I notice that clients can only close NTD accounts online. It seems that you canā€™t do so with foreign currency counts.

8

there was this one time Cathay seems to have blocked a wire transfer from me to my mom. She then visited the bank in person and explained to them to purpose of the wire transfer. She then asked the bank why it is so difficult for her to claim her money. The bank clerk then approved the wire transfer lol

9

I find the branch by my office incredibly slow. Easily 30 minute wait to get to a window. Think dmv in the States.

10

Are you able to close foreign currency accounts online?

11

That may be true, but I think most people nowadays care more about the speed of their app than the speed of their humans.

1 Like
12

Are you able to close Cathayā€™s foreign currency accounts online?

13

Nope, as far as Iā€™m aware any traditional account with passbook canā€™t be closed online here in Taiwan. Even citizens should be required to go to branch.

14

My NTD account at Cathay United Bank was a ā€œę•ø位åø³ęˆ¶ā€. I suppose thatā€™s why I was able to close it online.

I cannot do the same for my foreign currency account at the same bank though, even though it is also a ę•ø位åø³ęˆ¶.

15

I donā€™t know then

16

No, I dislike them. Very annoying and slow. but they have provided the best service consistently I have ever recieved in Taiwan.

17

I have cash I put into my wifeā€™s bank account every six months. I dread these visits to Cathay Bank.

18

You can actually deposit cash at an ATM at your nearest 7-11! It doesnā€™t even have to be a Cathay ATM.

The miracle of modern convenience.

1 Like
19

Thanks for the reminder. I was walked through the process once at Cathay Bank. Completely forgot about this. Iā€™ll do it this next time.

1 Like
20

Go in on a free day. instead of going to dinner and a movie, treat their service as entertainment. end of the day (assuming no skeletons in the closet ) you are in the right and cna just fuck with them to force their realization of absolute retardation. used to be a fun past time of mine when Ihad the odd weekday off. I would do it again first chance given the freedom of their nonsense banking hours. If Iā€™mgoing to do something simple like a deposi, I always wait til 15:20. watch them figure out all the bullshit they say at 10:00 that they will take time to do. watch them squirm and figure it out.

fucken hate banks!

1 Like