Foreigner Banking in Taiwan Masterlist

Exactly as I described? I gave two different scenarios…

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Both work. Basically you’re shit outta luck if you are a lone wolf foreigner.

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Good to know. Thanks for the info

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Some banks will give credit cards based on a percentage of your deposit.

I know. I have been lucky to secure an unsecured credit card. But none of this is easy and I had to fight a losing fight against a bank who decided arbitrarily to revoke my credit card despite doing everything right and normally.

You don’t have stability if you are a foreigner. The system is designed to keep us poor and stupid. You have no consumer protections. Nothing.

All at the whim of the Mr Chen in his walled-off office driving his BMW away from the filthy public.

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And barefoot and pregnant if you’re an SEA bride.

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I don’t think it is designed that way, its just that there aren’t enough rich foreigners in Taiwan for the banks to care about our service. Vast majority of foreigners in Taiwan are SEA factory workers earning less than NT$30,000 a month, and the bank doesn’t care about keeping them happy. They aren’t going to change their policies for the couple thousand English teachers earning NT$40 - 90k a month either. For change to happen, laws need to be put in to place to ensure banks treat nationals and foreigners with residency the same.

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It is. It is designed that way. It’s designed to keep foreigners poor and stupid.
If I go into detail, it would have to be when I am not working.

I never said things aren’t getting better, (they are, slowly) but I can certainly point out how it’s not accidental.

Do the banks have a secret agenda to stop foreigners from being successful? I don’t believe so but if you have evidence to put forward I am all ears. It seems to me that they just don’t care about earning the tiny amount of interest they could from our deposits.

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I didn’t say the banks. I said the system. The Entire System.

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I can imagine it now. Top politicians in their office gathered around a table trying to figure out how they can stop Marco from being successful today :sweat_smile:.

I know what you mean though, it can feel like the cards are stacked against us sometimes, or most times… :sleepy:

I guess that’s because the cards are stacked against us… Like you said though, it’s getting better everyday.

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This is a 70 year old system that is slowly being dismantled. It’s not a conspiracy. It’s not a feeling, it’s real. You can joke around and dismiss me all you want but it doesn’t change anything.

You’re talking about a country that uses the name Minguo and founded by a nationalist xenophobic right wing dictatorship.

The laws on the books were intentional to keep the purity of the Chinese race intact.

You’re new to the country as you have said before and have not had a chance to see it in detail.

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It’s all about guanxi. Get to know someone at the bank of your choice. Convince them you’re a professional with assets and roots in Taiwan. Do some transactions with them: currency exchange, minor investments, big deposits . . . . Take them to lunch.

After they get to know you doors will open. Credit cards. Loans.

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I’ve been here five, almost six years.

Had a short break to go live in China last year.

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My apologies, then I misread your earlier posts.

My focus is also half on my job as I am at work so… yeah. I would like to provide evidence when my focus isn’t diverted.

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I let my old ARC expire when I was in China, thinking I would stay there longer, then my wife got pregnant… That’s why I am going through the visa/ARC process again. Would love to here more when you have time.

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This has all changed recently, with the arrival of the apple cider vinegar guy.

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And he’s making the rounds at the banks so expect to see huge foreign capital inflows in the very near future. Not sure how the central bank is going to keep a lid on the TWD.

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CHB !!!

Went to 30 banks they were the only one that allowed me to open an account without ARC

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Thanks for taking the initiative. Let’s get started.