‘Online’ Bank’s xenophobic reasoning for denying "foreigners" the ability to open an account online

I may have dropped a few F bombs… sorry Amy. She probably deserves a smoko


Yeah come on guys. Let’s get it fixed so it’s working when I apply after renewing my ARC! :grin:

So…they don’t really have “all English customer service”. They have an Amy.


It’s funny because I also spoke to “Amy.”


I do believe there is only her… poor thing.

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maybe I am mistaken, only citizens get tax free interests on deposits…

I think so too. Her English is pretty good too. Better than any of the public school taiwanese english teachers I’ve met.

It’s the company that’s making her look bad…


I think she’s been set up to fail. Given this job based on her English skills and doesn’t understand the relevant laws


one of the few to have understood my name correctly and my phone number without asking to repeat. not the best pronunciation, but absolutely functional. she deserves a raise ahha


Okay, okay - I just called :wink:
They’ve asked for my phone number and promised to call back.


Finally done. I think Amy went through a lot of heat today and probably now knows more about CRS laws than any other Taiwanese bank employee.

FYI I am listed as only Taiwan resident for taxation purposes. (Also good thing to note… I never needed to go to a branch!)


Congratulations! Looks like we have a winner! (And hopefully you’ve made it easier for the rest of us.)


Now send him to the Taishin Bank’s headquarters and give him that cheque! :grin:


approved too
Screenshot 2023-01-04 at 5.13.16 PM


Although apparently the original picture of my ARC wasn’t clear so i had to send it again. That might take them a bit longer


I am in, put in the first funds, but the interest posted on the platform is not the fabulous 3.2% advertised for TWD, but 0.475%, see below:
Screenshot 2023-01-04 at 5.22.07 PM
Well, will call again.

EDIT: the posted rate is valid only if the deposit is either 0 or more than 100K. if between 0 and 100K it will go to 3.2%, the interest calculations are made at 10pm each business day, refer below:



Sounds like everyone can! As long as your name and account number match the remittance and it’s less than $500,000NTD


VIII. Inward remittance in foreign currency:
(I) In respect of foreign currency inward remittance, if the English name of the account and account number indicated in the remittance message match the information of the Applicant maintained by the Bank at the time of opening the deposit account, the Bank may credit the funds into the deposit account of the Applicant directly without the Applicant placing his/her signature on the inward remittance instruction. However, the Applicant shall still provide information regarding the nature of the foreign remittance. The Applicant shall be deemed to have received the amount once it is transferred to the account and the Applicant shall have no defense against the Bank on the grounds that there is no signature in the remittance instruction. For foreign remittance, if the account indicated in the remittance message is a New Taiwan dollars account, the Applicant agrees that the buying rate of the respective currency quoted by the Bank at the time of deposit shall be used as the exchange rate, and the Applicant shall be solely liable for any loss arising from changes in the exchange rate and any other reason whatsoever. However, if the amount of foreign exchange settlement reaches NT$500,000 or above and a “Declaration Statement of Foreign Exchange Receipts and Disbursements or Transactions” should be completed and a report shall be made to the Central Bank, the Applicant has to visit the Bank in person and fill in the relevant information at the Bank and complete the reporting procedures. The Applicant authorizes the Bank to deduct the fees payable by the Applicant from the inward remittance or deposit account opened by the Applicant with the Bank; if the type of currency indicated in the remittance message of foreign remittance is New Taiwan dollars, the Applicant agrees that the Bank shall send a message directly to the remitting bank, informing them that the remittance message cannot be accepted.
(II) If any foreign inward remittance is not completed due to incomplete or incorrect information of the payor/payee, inability to contact the payee and obtain the information required for foreign exchange declaration, or for other reasons that are not attributable to the Bank, and the situation is not resolved within two months from the effective date of the inward remittance, unless otherwise agreed, the Applicant agrees that the Bank may proceed to return the remittance after deducting the relevant fees.
(III) If the Bank has not received the funds more than five business days from the effective date of the inward remittance advice, the Applicant agrees that the Bank may notify the remitting bank to cancel the inward remittance advice and, if the funds have been released to the account, the Bank may either withhold the original released amount or require the Applicant to return the funds to the Bank.
(IV) TheApplicantagreesthatthedateonwhichtheinwardremittanceisreleasedtotheaccountshallbethedateonwhichtheBank acknowledges receipt of the funds and not the date on which the funds become effective as notified by the inward remittance message.

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I’ve been told by them before that they can’t force financial institutions to do anything since they are private companies. I’m like OK then what’s the point of a regulator then.

Although to be fair they have been helpful to me in the past mostly because they get a hold of a higher level to deal with my case when the CSR refuses to let me speak to a manager which always happens.

‘Can I speak to a manager? Oh sorry, buhaoyisi, no manager, nervous giggle,.Click’ I told one lady if she didn’t get me a manager my next call was to the FSC and she said OK then, call them. Wasn’t concerned a bit. I did call and they fixed me up with the presidents office who helped me eventually but no apology from the bank either


I doubt my name is ever going to be 100% identical. And for outward or inward remittances of larger size, you still need to show up at the bank.

The website also sounds like every foreigner can just open an account… :unamused:

But on that topic: My last transfers using E.SUN all went through without having to go to the branch. All around NT$ 300k - I just had to use the right remittance code: Remittance code - which one to choose?

I had to make sure, though, that my sending account uses my Taiwanese address and that I specify the benefactor name in the form “LAST NAME FIRST NAME”.


I got called back 3 times!

First one was some guy with bad English. He had no clue and put me on hold. Came back to tell me someone will call me in an hour…

Then Amy called and rushed me through all her questions. Quick and easy.

Much later again some guy called and wanted to ask same questions again. I told him it was done. He checked it and all was good.

Now I wait.

Amy was still on duty after 6 pm :salute: