Wondering if a bank account opened with an ARC would be affected by switching over to a student visa (and later a new ARC) Would the bank know if the work ARC was canceled?
Any info would be much appreciated.
The only one I kept was my Post Office account, and that still works fine two years after I left Taiwan. I may have to dart back to Taiwan to handle the switch to an IC card as the old ATM reportedly will not work after March of this year. I haven’t tried it.
Some of the less cooperative banks may refuse you an IC card or certain privileges if you don’t have an ARC, but in theory they should all allow foriegners to open accounts and keep them even if they have no ARC. In theory.
The bank probably would never know if the ARC was cancelled. However, they will have the expiration date on file which is probably sometime in the next year. Some banks will then cancel the card after the ARC expires. The account will still be open but you won’t be able to use the card at an ATM. Hence, if you need to withdraw money you need to go to the bank with your bank book.
My advice is don’t advise the bank that your ARC was cancelled, but when you get your new ARC take it to the bank so they have a copy on file.
Hmmm, sometimes less can do it. CHB yangmei called me while in Hong Kong telling methat my ARC had expired. No, I said, I just got it renewed. also, I was in Hong Kong at the time, and told them that I needed access to my money. No worries, they said, let’s setle this when you get back.
That’s some time ago, and they have not bothered me since.
[quote=“Etheorial”]Wondering if a bank account opened with an ARC would be affected by switching over to a student visa (and later a new ARC) Would the bank know if the work ARC was canceled?
Any info would be much appreciated.[/quote]
I opened an account with Taishin using my passport on a visitor visa a few years back. It’s still working now but the rules seem to change with the wind. I suggest that if you are dealing with any substantial amount of money or may need urgent access to your account then you should use the likes of Citibank who will give you a full contract and clarify anything in writing.
This has been posted and reposted many times. Do a search ( No offense - I hate doing it too!) Look, you MUST have an ARC to have a bank account. If your ARC expires ( They know the date from your opening registration documents), they will discontinue at least some of the activities on the account. In my case, (China Dont Trust) they stop all international withdrawals. If your still here and reprocessing all the shit, no prob. But if you decide to head home and take your bucks abroad, - - - - – hello? We dont know you!!!
Take your bucks when you go. This country, (mine too) loves to take your money when you arnt looking. Hell, I do that too, so I really aint complaining. Free money - I’m on.
Perhaps in theory, yes. In practice, no. I opened an HSBC account here no problem without an ARC and am able to transfer money offshore via the Net.
Citibank always sends me a letter a month or so before my ARC expires, then I have to go to the branch and they take a photocopy of it.
Which branch? (Seriously, it could make a difference, sadly. And I may need to do something like this.)
[quote]CJ wrote:
Perhaps in theory, yes. In practice, no. I opened an HSBC account here no problem without an ARC and am able to transfer money offshore via the Net.
Which branch? (Seriously, it could make a difference, sadly. And I may need to do something like this.)[/quote]
I went to my local HSBC, but i was told i needed to keep a minimum NT$150,000, to keep a good status.
Too rich for my blood.
I need a bank to send it home, not to keep it here.
So if your above that level they may be a good choice.
[quote=“Etheorial”]Wondering if a bank account opened with an ARC would be affected by switching over to a student visa (and later a new ARC) Would the bank know if the work ARC was canceled?
Any info would be much appreciated.[/quote]
It doesn’t seem to matter if the bank knows or not. I don’t think they care. My ARC was cancelled in mid-September, and I was without one until late January. I was still able to conduct my financial transactions without any problems.
When I got my new ARC, I was living in a different county. When I went to transfer money back home, all I had to do was show them my ARC. They knew my account was located in another county and that a had a new ARC. Nobody said anything. It made no difference.
It was all just business as usual.
E.Sun Bank also opens accounts with just your visa and passport.