Thank you.
That’ll be the multi-currency account they offer. You can have funds in various different currencies, including NT$, GBP, USD, and apparently they’re now taking deposits of agricultural produce. You really can’t complain about that level of service. How many US banks would let you pay your credit card bill with peanuts?
Probably quite a few in the coming months. Anyway, they’ve been happy accepting bullshit for mortgages for quite awhile now.
HG
I have been pleasantly surprised with the customer service offered by Yuanta Bank. Very professional and patient, although non-Chinese reading foreigners will have trouble with their Chinese-only ATMs.
[quote=“The Simpsons”]
Homer: Oh, twenty dollars…I wanted a peanut!
Homer’s brain: Twenty dollars can buy many peanuts!
Homer: Explain how!
Homer’s brain: Money can be exchanged for good and services.[/quote]
Good thread - was going to attempt to open an account this week myself. Maybe the place next door really is just as convenient as any… Too bad it sounds like I’ll have to put real pants on though…
On the other hand, it might be wise to consider other factors, such as the current world affairs, when choosing a bank (meaning the big boat is sinking, and many signs predict many boats here will follow):
[quote]The government announced it will guarantee all bank deposits regardles
s of amounts or currency, in a move intended to bolster public confidence and ward off a potential financial crisis…
…
The Financial Supervisory Commission (FSC) announced Monday night that the government would guarantee all bank deposits of up to NT$3 million per depositor per bank, up from the existing cap of NT$1.5 million.
The new policy will only cover savings accounts, time deposits, checking accounts and personal retirement pension accounts, while foreign currency accounts and structured notes will not be included, the FSC said earlier.
Local financial authorities made the move after observing a shift in recent weeks of ten of billions of Taiwan dollars in deposited funds from smaller private banks to accounts in government-controlled institutions, such as the Bank of Taiwan and postal banking system maintained by the post offices.
Depositors feared their hard-earned money could evaporate if the non-governmental banks collapse. But their shifting of money to government banks is also creating a financial burden on the smaller banks in the private sector.
[/quote]
http://www.chinapost.com.tw/taiwan/%20business/2008/10/08/177712/Gov%E2%80%99t-fully.htm
I’m just curious. What happened when you contacted the bank’s headquarters in the USA?
or was that just empty threat nonsense…
Anyway, I did want to mention that I use MegaBank, which is partially government-owned (used to be called ICBC, International Commercial Bank of China). But I have found that the key to good service at banks in Taiwan is to be very, VERY patient and friendly, but not give up when you want something done. Try some smaller branches of the big banks and ask someone in your school’s office to call ahead and help you arrange the right paperwork.
and don’t forget to follow up and call or e-mail that bank that was rude to you.
A bit embarrassing given how obsessed Taiwan is with the old Chinglish, but how many US banks would give you the time of day if you wanted to open an account in Chinese?
I have had good service and exceptionally bad service at various branches of the following banks: Taibei Fubon, Citibank, Taishin, Land Bank (forced to open the account as part of my mortgage, bloke kept looking at his watch, making nggrrrrr sounds and commenting that he had a really important appointment), Chinatrust (consistently bad, but at least they’re consistent), HSBC (Taiwan), HSBC (UK), BOA (US), Wachovia wotsit bank (US), NatWest (UK), Halifax (UK). At least Citibank in Taiwan have Citigold - where if you have at least $3m on deposit then you get to be treated like shit on a velvet carpet with fake gold pens. Nice.
Welcome to the wonderful world of banking.
HSBC; cretinous, racist idiots. I can’t even bring myself to detail the bs I put up with from those a***holes, and really resented that I couldn’t close the account because it was the bank my salary went into. They do have a phone service with sort-of English speaking staff, though, which is great, and more than one could expect. Although they are trained to vomit forth the stupidity of their employers/the government, they are polite whilst doing it. There was also a fabulous lady in the XinYi Road branch who went above and beyond, when I wrote a slightly odd looking ‘6’ on a form, which looked a bit like a zero. She could have just ignored it, but she took time to contact me.
Taiwan Bank. Also rubbish. One can only withdraw money from your account from the branch where the account was opened. My ATM card inexplicable ceased to work four times in six months, and had to wait ten working days for a new one. One cheeky little madam at the chunghsiao dunhua branch actually shrugged when I asked her for the address of a branch, and tossed the address book across the counter with her left hand where it fell on the floor. I left it on the floor and went to ask the manager…
Chunghwa; always treated me with the utmost courtesy and friendliness and went out of their way to be helpful. I didn’t have any credit, though.
One of the few female posters on forumosa said: [quote]couldn’t close the account because it was the bank my salary went into.[/quote]
Don’t get me started. I have accounts at five different banks, thanks to the practice of schools insisting that you open an account with their bank. Cheap bastards.
Well, they can treat you like **** because you aren’t the customer. It’s annoying.
[quote=“Buttercup”]
Taiwan Bank. Also rubbish. One can only withdraw money from your account from the branch where the account was opened.[/quote]
Wow. Talk about defeating the purpose.
I worked in banking for 10 years before I moved to Taiwan. Clearing foreign checks is a service most banks can provide, but it’s certainly not an everyday transaction. Plus, as mentioned earlier, it’s a lengthy process before you can actually have access to your funds. There is a much easier and more convenient way for you to have money sent from your Citibank account in Canada to your Land Bank account.
I bank at Citibank in the US, and have gone online to its Website and have wired money from the US to Taiwan. It was easy. I can’t imagine that Citibank Canada does not offer this same service. Just go to Citibank Canada’s Website, log in and check it out. If you have trouble, just call Citiphone collect 24/7 on 416-947-2900, or e-mail them once you’re logged in.
As for as your horrible experiences with Taiwanese banks, I feel sorry for you. What a nightmare. Luckily, I never experienced any of that, and I had accounts at First Commercial, Hua Nan, Chinatrust, the Post Office, the Ninth Credit Cooperative of Taipei and at least 2 others that I can’t remember the names of. Oh, and I speak about 15 words of Chinese.
I worked for Citibank 
in Washington, DC in the 1990s. We went aggressively after Chinese customers, and had both Cantonese and Mandarin sales reps and tellers. And this was not in DC’s tiny Chinatown, but out in Montgomery County, Maryland, a rich county with an ever-growing Chinese community.
I understand your point that many banks in the US would expect their customers to speak English, but it does depend on the racial and cultural diversity of where the branch is located.
How much does that cost?
How much does that cost?[/quote]
US$30, and that’s with a discount since it was done online.
It seems steep, but if you need a large amount of money sent to Taiwan, it’s much easier than running to an ATM in Taiwan and only getting the equivalent of US$500 or whatever a day.
All employers in Taiwan ask new employees to open a bank account with their payroll bank. I think they get a preferential rate or something. It’s just the way things are done here.
I’ve had excellent service and crappy service in pretty much all the banks here. However I’ve almost always been able to do what I want in the end. Be patient is true. I think it’s just a symptom of service culture here which is always spotty, often it depends on the individual. Plus we foreigners are just too rare as % of population and most of us not rich so don’t count as good commercial opportunity and hard for them to understand what to do.
My worst moment was when I tried to change Japanese and HK money back into NTD at the same bank that I had received it from 1 week before. The lady took one look at my collection of different notes and said I should go across the road to the other bank, just being lazy. She thought I didn’t have a clue, unluckily for her I embarrassed the hell out of her in loud Chinese asking her why her bank didn’t want the same money back that she had given me and did they not want to make money.
Don’t get me started. I have accounts at five different banks, thanks to the practice of schools insisting that you open an account with their bank. Cheap bastards.[/quote]
In country wire transfers cost 15NT each. 15NT per employee per month is too much for them!!?
Don’t have time to read the entire thread, but I agree that the problem is simply that they didn’t want to be bothered. I loved the Land Bank. They are a very old bank and I always had excellent customer service experiences with them. Not only that, the atmosphere there was good–like everyone working there felt at least fairly good about their job.
Sounds to me you went to Citibank Taiwan branches which took over the Bank of Overseas Chinese Branches.
From what I heard, they are not related to Citibank USA.
I had a similar experience with Citibank.
Previously I had my payroll account at Bank of Overseas Chinese, which was acquired by Citibank.
I went there and wanted to open a second account for deposit Euro.
Me also told, that it is policy of Citibank, that foreigners who can’t speak Chinese can’t open a second account 
Had no mood to discuss with them and left.
Funny part is, I had 2 credit cards from BOOC, which were replaced in July to Citibank Master and Visa Platinum, without applying. (Previously hold only a BOOC Master Platinum and Visa Standard).
When going to www.booc.com.tw.
Both banks have different services.
For example, if you hold a credit card from Citibank N.A., you can check online your credit card statement. Asking Citibank Taiwan, whether offering same service, they told me, no, they don’t offer this service.
My experience with Chinatrust is so far very good, even I don’t have an account with them, but they had no problems to raise my credit card limit to 300k when i asked them for that.
For Banking issues, like cheques, Foreigner Account go to Chungwha Bank.
They are always friendly and even their english is not so good, they will really try to do their best in helping you. 