Sending money from foreign to Taiwanese bank account

Business Money
1

I don’t have a Taiwanese bank account and can’t get one (no ARC). I’ve been paying my landlord in cash each month but he’s keeps asking if there’s any way I can transfer to his bank account as it’s easier for him.

Is it possible to use my foreign Visa card at a Taiwan atm and transfer the money to him that way? Or do I still need a SWIFT code and things like that.

The good thing about my bank card is it does not charge for withdrawing money overseas, but it does charge when sending international bank transfers.

What’s the best and cheapest way to send money to his account?

2

Even without ARC it is still possible to open a bank account at almost every Taiwanese bank. You just need to apply a Uniform ID number at the nearest NIA. With such number you will be able to open a regular bank account (at least at the post bank). Here is the web-link

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3

I suspect that if you pay by Visa from your overseas account, it will be more expensive than a domestic wire transfer.

4

You could just withdraw the cash using your foreign visa card and deposit the cash into his account using his bank’s cash deposit ATM or a teller. All you need is his account number.

What bank are you with that gives you an account with no charge for overseas ATM withdrawals? That’s pretty nice. I have one too, CitiBank Plus.

It’s better to go get that uniform ID which is essentially an ARC-less ARC number which is issued for among other things the purpose of opening a bank account.

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5

Brilliant! That’s so helpful to know thanks so much, I’ll be applying immediately!

6

Ahhh that’s great to know thank you! I’m glad I’m able to do that. That’s a huge help.

I’m from the UK and I’m with Nationwide. I pay £10 a month for their FlexPlus Account, which sounds expensive but it also includes travel, phone, and breakdown insurance.

8

Hi,

I am tried applying for a bank account at CTBC with my passport the ID document number, however they asked for proof of my current address, which i don’t have because I’m staying with a friend.

Does anybody know if the post office bank will ask for a proof of current address?

Thanks!

9

Have the friend buy a rental contract from some stationary store, fill in any details and your English name. Nearly zero cost.

10

Thanks for the tip @KHHville, I ended up going to the post office and it turned out that they didn’t require a proof of address. But they wanted me to get a stamp for my chinese name.