I just saw a post about getting finance for a vehicle on an ARC and thought rather than the usual complaining of which I’m a culprit we should have a thread if recommendations of financial services that don’t discriminate. There are recommendations scattered throughout Forumosa but a concise list would be convenient.
Hopefully everyone can add to this so we can find the services we need throughout our lives with less headaches.
My 3 are:
Taishin Life Insurance - Probably more about the agent than the company - Lisa Qiu. She sells products to many foreigners and she speaks English fluently. No ‘foreigners meibanfa’ rubbish. I purchased death cover and health/income protection insurance from her. She also sells private pensions and savings type products. She isn’t pushy either and will listen to your home countries offering so you can make an informed decision.
Yu Rich Financial Services - I have my vehicle loan through them. No customer service but they don’t care about you being a foreigner. Fast food style service, they get your loan approved within a day or 2 and move on to the next customer, foreigners and Taiwanese treated the same in my experience. Chinese only but easy to deal with.
Amex - Credit card applications are exactly the same for foreigners and Taiwanese. Great customer service, even their non English speaking staff try their best to assist. They also accept overseas bank statements as proof of collateral. There’s a credit card discussion thread with more info but the general advice is that the Costco card and Amex cards are easiest to get.
Taiwan Mobile - No guarantor and treated like any other customer.
Great thread. I will support these businesses by using their services if I can. The writing’s on the wall. Immigrant population will continue to increase as a percentage of the total population and xenophobic businesses will lose out on a fortune by denying us their services.
Then it will be easy to refer too and those providers should make a lot of money
It would be great to have a few insurance providers or an agent dealing with many providers here. I kind of felt like I couldn’t shop around even though Lisa was great, I didn’t feel like I had other options.
Taiwan Mobile treat foreigners pretty well, or at least better than the other operators. Years ago I was able to get a contract with them with no guarantor or down payment. I can only presume things have gotten better since then.
I would add in general, in my experience, Cathay United has been very decent to me. Got account and 2 credit cards with them. For one had to sign for the guarantor, but it was only after one month I arrived in Tw without any history (it was the costco card), and it was pivotal to get for my credit score, so I asked my fiance’e to help and so they did. For the other, the eva air visa infinite card, applied via post, sent the document requested, 10 days later I was approved. They have a somewhat decent English phone service, but it is hard to get there, at the branch English is very rare, but I can do with my Chinese.
Taiwan mobile I agree, I like them and their service is good, coverage at par if not superior in some areas to Chungwa, and prices are better.
Amex they are Amex, you can’t complain about their service as it is the same all over the world.
For basic banking services I find that also the Post is quite ok, as long as you have your personal stamp with you, all good.
Can’t complain about Chinatrust too, got the visa line debit card with them, works very well and has very good integration with Line. Took just some convincing on why I wanted their account and that specific debit card, but after talking about line points, all went smooth.
That’s my experience in a nutshell so far, “international” banks such as HSBC are a far cry from their American/UK counterparts, have very stupid internal policies for cards or account opening, but I still use them for transfers since they are free up to a certain number of transfers per month and their app and website in English are perfect.
The same issue with Cathay, for business and personal accounts as soon as they understood that it was for a foreigner (I was there with my Taiwanese wife hence they thought it was for her) they rejected me without any discussion.
Esun and HSBC were much more welcoming to me.
But yeah I understand that different branch locations, have different outcomes also.
I’m not sure if you did something differently on the Yu Rich application site (or I did something wrong), but the line account directs you to apply on their website directly for a loan.
You need to register with your Taiwan ID number (ARC/ APRC), however, it’s got the same rejection system as that of banks (if they allow online applications). So when you input your card number, it automatically rejects the registration because of “incorrect number format”, i.e. not the same as a Taiwanese ID number. I have the new format ID and have tried my old foreigner ID as well, but both don’t work.
They seem to have good rates and options, if it actually allows foreigners to register. But it doesn’t seem to.