Help with banking issues and transfers please

Which bank is best for foreigners in Taiwan?

  • China Trust
  • Citi Bank
  • Central Bank of China
  • E-Sun
  • Bank of Taiwan
  • Under My Mattress

0 voters

Ok, so I have a banking question, I read previous posts, but did not get what I was hoping to learn… :help:

In the US I use Washington Mutual, which does not have any international branches. Since I will be studying in Taiwan for a year, I will need financial proof that I can support myself without working. I figure 10k US should do the trick. But, that is a lot of dough to be carrying. I would prefer to have it safe and sound in a bank. My questions are:

1.) As a student on a Visitor Visa (eventually hopefully an ARC), will I be able to open a bank account at say, China Trust or China Bank?

2.) Do Taiwanese banks charge monthly fees for savings accounts?

3.) Am I able to earn interest on my deposit? (Nice to know my money can work on its own and do a little maturing if possible).

4.) China Trust is in the US…west coast = SF and Seattle. I am willing to take the long drive up to Seattle to open an account if it means it will be easier for me to get things established in Taiwan once I arrive. Is it a good bank?

5.) How about other US banks, and in Taiwan?

6.) “wiring” the money to the bank in Taiwan will earn a higher trade rate than trading cash, is it tough to do? How much Mandarin is required to do transactions at the banks in taiwan?

Any recommendations would be greatly appreciated. Thanks! :slight_smile:

You should search the fora. Whether an ARC is required to open a bank account was hashed out some time ago, but I can’t remember the concenus of opinion.

My account is with Bank of Taiwan, the only service charge I have ever incurred is the 6NT per withdrawl ATM service charge.

My savings account with BoT earns interest, albeit not much.

That depends on the location, I would think.