Leaving After ARC - What Happens to Local Bank Account?

Legal Visa & Residency
1

Hi folks,

I have an account at a local bank. Do I have to cancel the account before I leave Taiwan?

What if I just leave 100 NT in the account. Will it still be around if I come back in a few years? Are there “user fees” that could potentially lead to a negative balance if I don’t come back in a timely manner?

thanks in advance.

2

My undrestanding: no user fees. Most, but not all, accounts are linked to your ARC (other posters disagree) If your ARC voids, so does your ability to withdraw. Be careful. Why would you want to leave 100 NT in an account. Close it. Re-open if you return.

3

Just returned after ~4 yr absence and used our old accounts. No issues.

4

Lordy, I hope not! I haven’t had an ARC since May 2006, and I still have my account. I try to keep around $3000US in it, and I’d be right pissed if they stopped letting me take it out. I suppose I’d better ask the nice lady at the bank if this could be a problem in the future. Then again, perhaps it’s best to just let sleeping dogs lie…

5

Generally the account will not be closed. The one thing banks may do is cancel the card, often just limiting access from overseas. As long as you still have the passbook you can make withdrawls over the counter without any problems.

I still have the original bank account that I opened when I first came to Taiwan in 1999 even though I have left Taiwan for several periods in the interim. I did have the problem of not being able to access some funds with my card while I was outside Taiwan but I came back a couple of years later and withdrew the funds over the counter without any hassles.

6

I hadn’t updated my bank after renewing my ARC last year. The first time it became a problem was last week when I had a wire transfer into the account. I had to show them the new expiration date before I could receive the money.

7

I have an 玉山 account I opened on an ARC which is long since gone. Even when I was completely ARC-less I was able to wire money into it from overseas and withdraw, and I’ve never been asked for updated ARC information.

Same with 台新 (though there are dozens of other ways they suck).