How to Open a Bank Account 2016-02-15
How to Open a Bank Account?
 
Every bank has different regulations. You may log onto their website or go in directly and ask.
 
Taiwan's banks are normally open from 9 AM to 3 PM on weekdays. The following section below will briefly explain the process of opening an account:
 
Required Documents:
Foreigners who wish to open a bank account must bring a pair of identification documents to the bank. Minors should be prepared to bring documents stating their authorized guardianship in Taiwan. To open a credit card, proof of salary or other documented evidence of financial ability is needed.
 
For Applicants With Residence in Taiwan:
First documents: R.O.C. foreigner residency permit (Alien Resident Card), proof for diplomatic official or foreign employee stationed in China, a lawful entry visa or stamp, and foreign passport.
Second documents: Other documents to verify identity, such as a health insurance card, driver’s license, etc.
 
For Applicants Without Residence in Taiwan:
First documents: Proof of R.O.C. ID number, a lawful entry visa or stamp, and foreign passport.
Second documents: Other documents to verify identity, such as a driver's license, identity certificate issued by the Overseas Chinese Affairs Council, etc.
 
Account Opening Process:
Enter the bank and draw a number. Wait in line until your number is called.
When your number is called, go up to the counter and inform the clerk that you want to open an account. You may also apply for an ATM card, credit card, or online banking.
Show required documents; they may be signed instead of stamped.
Fill out the form as instructed by the bank staff.
Receive bank book and ATM card.
Follow the instructions to reset card password at an ATM.
If you have applied for online banking, you will need to go online and change the password yourself.
 
   ATM Card: Key Information
Process: Can be applied for when a bank account is opened. Must bring a foreign passport, foreigner residency permit, and stamp (signatures may be used) in person to the bank.
Usage: to allow domestic deposits, withdrawals, and transfers.
Withdrawal Limit: The maximum amount that can be withdrawn in one session is 30,000 NTD (20,000 NTD for cross-line withdrawals.) The maximum amount that can be withdrawn in one day is limited to 100,000 NTD.
Transfer Limit: The maximum non-negotiable amount for account transfers is limited to 30,000 NTD per day. If the amount for each transfer needed is larger than 30,000 NTD, then it should be agreed and discussed upon beforehand with the bank. Afterwards, the maximum limit will be raised to 2 million NTD (the maximum daily limit will be decided accordingly by each bank).
Loss Processing: If an ATM card is lost, you may contact each bank's 24 hour automated loss reporting line. Please head to the bank where the card was issued and file a written report as soon as possible.
Card Replacement Fee: For application fees, loss reporting, reissuing and renewal of cards; fees are decided accordingly by every individual bank. For more information, please contact each bank.
 
   Credit Card Application: Notes and Precautions
Application: Foreigners must prepare proof of salary or other documented evidence of financial ability, a copy of their passport, copy of a valid residency permit, and other documents. Depending on the regulations of each individual issuing institution, the card issuers hold the right to approve or deny any applications.
Loss Processing: If a credit card is lost, you may contact each card issuer's 24 hour loss reporting line or customer service. Additional charges may occur according to regulations. For more information, please contact each issuing institution.
Dispute processing, credit interest rate, various fees, benefits and preferential benefits: every issuing institution will list these details, either in written or electronic form. For more information, please contact each issuing institution.
 
Online Banking: May be applied for at the same time as opening a new account. A valid foreign passport, foreigner residency permit, and stamp (signatures may be used) are needed.
 
International Currency Exchange Information:
Foreigners should bring their passport or residence permit to the bank for international currency exchange. Each designated foreign exchange bank should make their charging criteria, exchange policies, and other fees known.  
 
Notes on Foreign Currency Deposits:
Handling of, purchase and/or sales of foreign currency and exchanges in Taiwan will be handled according to international regulations.
 
 
Source: Foreigners in Taiwan.
http://iff.immigration.gov.tw/ct.asp?xItem=1238562&ctNode=34356&mp=iff_en