I also opened my accounts many years ago however in order to be taxed at the correct level on interest ARC holders need to renew their info when getting a new ARC so over the years ICBC/MEGA have many, many copies of my ARC and Passport. They will have many Taiwanese citizens details on file also. Instead of actually checking the information they already have they’ve simply shotgunned a letter to every account holder and had their customers do their job for them.
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I see it more as a sworn statement: I solemnly swear I am not up to no good.
Honestly, it is a friggin bank, why are they shuffling more paper than necessary? Because they can. It is not even a state bank, for Warren Buffet´s sake!
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