A friend is Taiwan told me that if I do not use my account and leave it inactive for a period of 2 years, the account is cancelled and the funds within are losts as well. Is this true or false. The reason I ask is that I will be returning to home for further studies, but after will return in either 2 or 3 years time. And that I want to leave a portion of the money here upon my return. Because this banking practice sure doesn’t occur in Australia, but then again nothing Taiwan isn’t Australia!
I returned to Taiwan after a 3.5 years absense and my Post Office and Land Bank accounts were both still active and I was able to withdraw my money from both. I had my ATM cards but had completely forgotten my PIN numbers. Just be sure you still have your passbook and chop and ID. I had no problems.
Every bank has different rules to closing of inactive accounts. Best ask the bank you will leave the funds with for their exact rules. I had a savings account lost to the bank after 8 years of inactivity.