actually i did just that. But I think the Cashback will be transfered a the end of the month or so. Not for each individual transaction?
My test was paying 200 eur in a shop.
Richard deducted 1,34% more than the exchange rate in the richart online Banking.
And that was about 1,7% more then google exchange rate.
Has anyone succeeded at transferring larger USD amounts (>$20k USD) using Richart to overseas bank accounts?
How difficult was it and what were the fees?
Does anyone know where the easy card automatic recharge works? I’ve tried in 7-11 and it worked, but then I tried to use the MRT with negative balance and it did not automatically recharge.
It only works with combo cards, like credit cards or debit cards with built-in easy card function.
Is that what you have?
Yeah, that’s the one I have, from Richart (Taixin bank).
Have you activated the auto recharge function? That may be the issue.
It work’s differently with Easycard combo debit vs. credit cards. Combo credit cards can recharge anywhere Easycards are accepted, but for combo debit cards, they can only be recharged automatically at point of sale systems or at Easycard automated value machines, not for any form of transportation. The Chinese site explains the limitations of the combo debit cards here: https://www.easycard.com.tw/cobrandcard?id=1507689857
One the English site, you can look at which places allow you to auto-reload cobranded debit cards here (note that “cobranded cards” means cobranded credit cards, not debit cards):
TIL. Now I regret not selecting the easycard option on my credit card
You can request the bank to give you with that option. They usually do it for free.
I’m worried that card number would change which would be annoying. I’ll give it a try anyway I guess.
Thanks @Kabob8! According to the Chinese site you linked, the card cannot be recharged at an MRT or a bus, but it can be recharged at supermarkets or convenience stores. They also mention you can trigger automatic recharge either via the FamiPort machine or via the EasyCard “Add-Value Machine”, they look like this:
After the promotional period is over the NTD interest rate is measly 0.6%
It goes up to 1.3% if you have high USD balance or send/receive foreign currency.
Details here: Richart - 最能幫年輕人存到錢的銀行
Almost every bank and credit card here is a damn scam. The good offers with high cashback/points (cards) or high interest rate (banks) last for 6-12 months at most and then drop to below-average rates (even for Taiwanese market). What’s the damn point of going through the cumbersome application process?
better the post office, 0.7% p.a. tax free, moving my money there now
Just saw Post Office started supporting Google Pay for some cards. Will check later today and switch next month. Richart does not offer much when the 3.2 interest is gone. Especially since the foreigner account is so limited compared to the normal one.
I am not using the foreign currency exchange.
Google Pay was a deal breaker so far for Post Bank. Need also to check out if Post Bank account supports Easy Wallet linking.
I added my visa debit card to it, it works as normal. I read a few week ago they suspended Gpay tx capability abroad for their cards due to some fraud, but maybe is available again now.
It’s still so laughable that Richart, “Taiwan’s first foreigner-friendly bank”, is still the only bank I’m aware of that doesn’t let foreigners use the app. Not even in Chinese. All my other banks have workable English versions. They’re unlikely to win any awards, admittedly, but they’re mostly fine and we’re at least allowed to use them.
When I was at Huanan the week before last, the guy setting up my account apologized that their app probably wasn’t available in English. It actually installed in English by default and is totally fine.
I‘ll be keeping the account for the free ATM withdrawals.
It’s the free transfers for me (it’s just NT$15 per month for rent, but hey).
You can see the account and transact on the regular Taishin Bank app.