First bank incredibly messy and stupid policies for the app and website.
U have ileo accounts which r digital accounts and then u can access ur normal account via ileo app if u want to use the English version.
Ileo app doesn’t support credit card only access (actually, doesn’t support longer usernames which can be used for credit card only access, so u always need to use the website), so stupid.
I haven’t had any problem with it.
Do foreigners get the free 10 monthly transfers?
If they do, I think I’ll move my business and personal accounts from ESun to First Bank
Dont, i have an account with both, and E.Sun service is much much better.
10 transfers is 150 NTD, the gain is not worth the amount of touble First Bank give foreigners.
I’m not sure if I get 150 NTD of value from ESun per month… apart from their friendly bank tellers and and english app, everything else is not great. For example they want guarantor for mortgages despite me having business and personal accounts there (they said they have never seen a foreigner at their branch approved without guarantor). First Bank called me back pretty quick and said no guarantor required, and offered good interest rates.
Also each time I do an international wire out of ESun, they charge 1700 NTD
how is the requirement worded on the application form? If it is necessary requirement only for foreigners complain to the FSC or the financial ombudsman, don’t complain here, doesn’t help.
There’s not enough time to complain to FSC
When I signed on my place, there was 1 month deadline. Bank needs 2-3 weeks to get approval for a loan before they’ll tell you whether or not you need a guarantor and what rate was approved. No time to wait another 2-3 weeks for FSC, by that time you’d lose your deposits.
FSC is very quick, in 2 biz days they refer the case to the financial provider, even less if u make clear an urgency.
I’ve complained to FSC before about Cathay United and it took about 2 weeks for FSC to reply then about another week for Cathay United rep to reply. Also when I applied for mortgages I applied to 5-10 banks, each took some time to give an approval with their rates and conditions. There’s no time to complain to FSC about each bank who requires a guarantor and go through mediation and figure things out. You have other banks with better options and you’re about to lose your deposit.
was saying, u do what’s best for u.
If u got a better offer and service somewhere, all good.
I’ve always been charged. Not a lot, but I have never had free transfers
congratulations, where did you get a place?
Hongshulin 紅樹林
Is it recommended to complain to the FSC or Financial Ombudsman for mortgage complaints where the bank insists on getting a Taiwanese guarantor, where you are otherwise approved for the loan based on your own financial merits?
In these cases isn’t it up to the bank on whether or not they decide to loan out for a mortgage? Can a mediator tell the bank to give out the loan, if the foreigner is approved for the loan based on their own financial merits?
Most of my cases I ended up getting approved for 80% mortgage, very low interest rates, with a condition that a Taiwanese guarantor is required. Usually when I tried to apply for the mortgage, they told me a guarantor is probably not required, and the head office overrides them at the final stage. Some banks told me that they need this so they have a local person to contact but my financials look great otherwise. I have some time to write complaints after things settle down. I have about 10 banks to complain about. Just want to make sure that I have a case against these banks about recognizing their discriminatory behavior.
I pay 5m+ TWD in taxes per year and had TW tax residency for about 5 consecutive years. If I wanted to, I could ask a random person off the streets to be my guarantor and pay them 10k TWD, since I’m paying 50% down and there’s no risk, the logic doesn’t make sense.
U have, just sent the complaint to the FOI, FSC most times can’t be asked to do their job.
Yes it most certainly is
The banks are free to make up their own requirements just as an establishment is free to only accept customers dressed in fancy suits…
They cannot however say “no blacks allowed” or “foreigners need not apply”
This is reinforced by Article 7 of the Financial Consumer Protection Act.
Certainly. However if mediation breaks… you can take the bank to court.
Mediation is free! So why not give it a try… In fact… chances are the bank might drop the requirement before it even gets to mediation!
Then you’re not getting approved… are you?
You most certainly do have a case. Quote both Article 7 of the Financial consumer protection act and Article 62 of the Immigration Act
Step 1: Go here and complain first Make a Compliant/Enquire Online-Ombudsman Service-Financial Ombudsman Institution
Step 2: Receive their letter (either they’ll backdown or provide some BS)
Step 3: Call the FOI and tell them you want to apply for mediation (here is the form you will need to fill out 表單下載-金融紛爭解決-財團法人金融消費評議中心 it is in Chinese but I believe you can fill it in English - At least that’s what I have done…)
Write separate complaints to each of them. (Don’t make it one mass complaint as it will do nothing)
Take them on all at once. At least one will back down before mediation and then it is your choice if you have the time to take on the rest…
Having mortgage applications ask for place of birth gives room for discrimination. Why does that matter? Only your current nationalities should matter.
Why should those matter? Only your ability to repay the mortgage should matter.
That’s discrimination based on birthplace, against art. 61 of the immigration act