Opening a Bank Account

[peets]

in USA banks open account for tourist just need passport but in Taiwan why it is so difficult to open bank account for tourists.

is Taiwan afraid of foreigners

[izzy]

no, just the banking sector here is very very out dated and highly regulated.
you can say there is also discrimination against married couples, not just tourists. A joint bank account for husband+wife is not an option in TW banks, I never managed to get a good explanation why.

[rooftopclown]

@peets

why it is so difficult to open bank account for tourists.

To be fair, most tourists do not require a bank account. It would be quite the hassle to maintain accounts in every country you visit as a tourist - and think of all the loose change you would have sitting in low/no interest accounts around the world…

[Occam]

@peets

but in Taiwan why it is so difficult to open bank account for tourists.

It’s not that difficult. First step is to get a UID number from the National Immigration Agency, which is just involves filling in a simple form and giving them a copy of your passport. Takes 10 mins (not including waiting time).

Then take the form to a bank branch to open the account.
It’s true that choice of bank and branch might have an impact. Some have more experience dealing with foreigners and so they will be more likely to help you get it opened. If it’s a branch that has never dealt with foreigners before, then their staff may say it’s not possible. So choose a branch somewhere that has more foreigners living or working in the area.

Also consider an international bank like HSBC, Standard Chartered or Citibank as they have more experience dealing with accounts for foreigners.

If your chinese language level is not that good then it would be a good idea to take a local friend along with you to help with communication.

Most banks will also have their own requirements for security/KYC (e.g. proof of address, identity etc), but this is not something that is unique to Taiwan. If you are really a tourist and don’t have a longer term local address, then banks anywhere will likely be more cautious.

[Suziepie]

@Occam

First step is to get a UID number from the National Immigration Agency, which is just involves filling in a simple form and giving them a copy of your passport. Takes 10 mins (not including waiting time).

I did ask one of the staff in Immigration if I could get a UI number in advance so I could open a bank account sooner, but she said no, I had to wait for my ARC.
Maybe it depends on what kind of Visa you have, or the individual person who deals with you on the day.