Just lost my ICBC ATM card and went to the bank today to get a replacement.
They declined to replace it, stating that their new policy was to provide only ARC-bearing foreigners with an ATM card.
I have a student visa, and this has always been sufficient when I have lost my card on two previous occasions.
Are you aware if this new policy? Any way around it? I rather like the “conveniency” of an ATM card, as opposed to having to go into the bank with my bank card and passport every time I need cash.
I don’t have an ARC either, but got a so called “tongyi bianhao” at the police station on Yanping Rd. With this and my passport I was allowed to open a bank account and get an ATM card a few weeks ago. Maybe that helps?
ICBC really sucks about this sort of thing – I have an account with them. When I had a problem with my account, they told me I would have to either 1) go across town to the branch where I had opened my account; or 2) close my account and open a new one at their branch. They act as though their branches are not even part of the same bank.
Seeing as they have such a misleading name suggesting they belong to the Commie empire across the Strait, whyever would you want to bank with an outfit like that in the first place?
I can’t help feeling that if Taiwanese banks paid as much attention to their disgraceful non-performing loan ratios as they did to what cards foreigners can or cannot have it would suit them and their shareholders a hell of a lot better.
We closed ALL our accounts (3 business and 2 personal) with ICBC. They seem to take pride in creating trouble for their customers. I’d recommend a different bank. In my experience, ICBC dreams up rules at random to avoid doing whatever it is you need them to.
This past summer, while doing good in China, I couldn’t access my taiwan account because my ARC had expired. All they would say, would be , go in to the bank , show them your new ARC and you can have your money back. After all the headache, putting it all under the mattress seems like a better idea.
I realize banks are tying all new accts to ARCs or some other ‘tong yi bian hao’, and they’re inputting the ARC’s expiration date into their system. What happens once the ARC expires if it isn’t extended? Any implications for the bank accts you still have?
By the way, many people probably need to have their current ATM cards replaced with the new cards with IC chips, so better head over to your bank and ask. At that time, they’ll ask to see your ARC and passport and will probably input a slew of info into their system. Things have gotten a lot more complicated over the last few years in terms of opening accts.
[quote=“Gubo”]and ask. At that time, they’ll ask to see your ARC and passport and will probably input a slew of info into their system. Things have gotten a lot more complicated over the last few years in terms of opening accts.[/quote]I hear the gangs are paying more money for personal info now, so the banks are requiring more of it…
[quote=“Gubo”]I realize banks are tying all new accts to ARCs or some other ‘tong yi bian hao’, and they’re inputting the ARC’s expiration date into their system. What happens once the ARC expires if it isn’t extended? Any implications for the bank accts you still have?
By the way, many people probably need to have their current ATM cards replaced with the new cards with IC chips, so better head over to your bank and ask. At that time, they’ll ask to see your ARC and passport and will probably input a slew of info into their system. Things have gotten a lot more complicated over the last few years in terms of opening accts.[/quote]
I think a good argument could be made for moving your money out of Taiwan. That said, the difficulty of opening a new account is spreading in large part thanks to pressure from the USA. It’s part of the war on terrorism. We’re going to control terrorists by making it hard for them to open an account (without an ARC?). Really, I know someone who wanted to open an account in Hong Kong recently, and had a hell of a time - he needed a local person with an account at that bank (for one year minimum) to vouch that he was really who he claimed to be. The voucher had to be in writing. I checked on this during my last Hongkong visit, and found that it was indeed true.
About the ATM cards - yes, it’s definitely good to get one of the new ones with the memory chip, but not all the banks are up to speed on this yet. Bank of Taiwan and Cathay haven’t even started, but the post office and First Bank are two that I know have it ready to roll.
i just get paid in cash (insist - it’s common and acceptable), then buy traveller’s checks or bank drafts. or just wire money to your home account. screw bank accounts. invest. why give your money to a bank to invest and profit? invest it yourself
I say, bless the Post Office. I’ve had the same account there since 1993 and never a problem – through lost passbooks, ATM cards, insisting on signing my name instead of using a chop (and they actually recognize my signature, which is rare for a Taiwanese financial institution). Plus they’re all over the place (Post Offices, I mean.) Now that companies can easily transfer money into Post Office accounts, I use that one as my primary account.
I went to the ICBC branch on Tai Jung Gang Road in Taichung to apply for a new ATM card after I lost mine. They told me that I would have to wait a week and come back during working hours Monday through Friday.
The following week I take the morning off work exactly seven days later.
The bank tells me that they are sorry but my ATM card is not ready and to come back the following week.
I ask to speak with the manager who is, as usual not in. The supervisor refuses to give me her name and the teller doesn’t have a clue.
I decided that it was just too much trouble and that I wanted to close out my account. The supervisor who refuses to give her name then informs me that I can’t close out my account because I have not yet received my ATM card.
I forgave them a few years ago when they lost the contents of my savings account for a few weeks over Chinese New Year because apparently ICBC is the best Taiwanese bank on the island.
I will never again do banking with a Taiwanese bank.
Eric W. Lier
Have to agree with you, that particular branch in Taichung is one of the worst banks I have ever come accross. ICBC our house bank for more than 10 years, Taipei (Shiny Branch) and Kaohsiung (Szwei 4th road) are absolutely excellent but in Taichung you might be best off by opening an account with the Land Bank which is not far from that ICBC branch you mentioned. For private needs, China Trust always a good choice.
Isn’t that one of those Gangsta Banks?
I heard China Trust is opne until 7pm. That really would be convenient. Do you know of anyone who has had any problems with them?
Eric, the Land Bank is as much Gangsta or not Gangsta as all the others 49er banks, just find their service at the particular Branch mentioned quite outstanding whilst I stay away from the Land Banks’ branch in Taipei’s Shiny district.
ICBC really pissed me off earlier this year when I contacted them from Thailand to report that my ATM card had been stolen. They refused to cancel it for some reason even though I was able to give them my name, address, birthdate (I think they may have had this wrong). I realise it’s pretty hard to commit a fraud with an ATM card but I was concerned as I had been drugged and had no idea what may have happened while I was being robbed. In any case they didn’t cancel my card until I got back to Taiwan and fronted in person.
I some how doubt they would have reimbursed me if had been ripped off. As I say I was pretty pissed off, especially after spending $30 or so on the phone with no result. I think this whole ARC/ATM card connection is a whole bunch of shit too. That stuffed me up when I was in China a couple of years ago, between jobs. Perhaps it’s a combination of bureaucratic bloody mindedness and incompetence on behalf of the banks. You would think they would want to encourage people to keep money in their bankaccounts but there is little encouragement to do so.That stuffed me up when I was in China a couple of years ago, between jobs.
