Directory 
Article Details
Article DetailsHOME (Classifieds)
CATEGORIES
STATISTICS
- Active Links: 310
- Pending Links: 41
- Todays Links: 0
- Total Articles: 14
- Total Categories: 17
- Sub Categories: 97
How To Open A Bank Account In Taiwan |
| Date Added: November 12, 2008 08:46:14 PM |
| Author: |
| Category: Living In Taiwan |
| Local banks in Taiwan offer foreign nationals a convenient alternative to international banks -- local banks' branches and ATMs are more easily found, and major international banks often require a large minimum amount to maintain an account. In addition, most of Taiwan's banks offer online services. Taiwan's banks serve a diversity of needs, and accordingly offer a broad range of services. The following provides basic information on opening a New Taiwan Dollar bank account in Taiwan. Foreign nationals that wish to open an NT dollar bank account in Taiwan must be at least 20 years old, and should have a fixed place of residence. Interested parties should bring original copies of the following documents in person to process their applications. All ROC ID Numbers should have 10 digits as of 2002, and include the ID numbers of Alien Resident Certificates, Alien Permanent Resident Certificates, or a Record of ID No. in the Republic of China. For regulations on applying for an ROC ID Number, please refer to: Application Information for ROC ID Number Minimum Amounts for Opening a Bank Account The common minimum amount required to open a bank account at local banks is NTD 1,000. Chinatrust requires a minimum deposit of NTD 10,000. Citibank requires that the holder maintain an average monthly balance of NTD 25,000, otherwise an account management fee of NTD500 per month is incurred. HSBC requires a minimum balance of NTD 3 million; otherwise an account management fee of NTD 1,000 per month is incurred. ABN AMRO requires customers to maintain a minimum balance of NTD 3.88 million. Bank Deposit Books Upon opening an account, banks commonly issue a bank deposit book to the account holder, to be used as a record of transactions. Citibank, HSBC, ABN AMRO do not provide deposit books, but instead issue monthly statements listing all transactions. ATM Cards ATM cards and bank cards are issued after an account has been opened. Taiwan Bank issues its bank card via postal mail one week after opening an account. HSBC and ABN AMRO send ATM cards and passwords directly to account holder's residence via registered mail within 1 to 3 working days. Tax Rates on Interest from Income Those who reside in Taiwan for less than 183 days will have 20% tax rate deducted from interest on income earned. Those residing in Taiwan 183 days or more will have 10% deducted. Citibank and ABN AMRO deduct 10% on interest from income for those with residential status, and 20% for those without residential status. Cathay United and Taiwan Bank deducts 20% on interest from income for both residents and non-residents. For further information, please refer to the following: Chinatrust FAQ 0800-024-365 (7 for English services) Taipei Fubon Opening an NTD Bank Account 0800-007-889 (3 for English services) Cathay United Deposit Services 0800-818-001 (dial 1 and then 9 for transfer to English services) Bank of Taiwan How to Open an Account 0800-025-168 (No English services) Taishin Bank Opening an NTD Bank Account (02)2655-3355 (5 for English services) Citibank Open a bank account (Foreigner) (02)2576-8000 (4 for English services) HSBC Service Channel 0800-066-088 ABN AMRO Products and Services 0800-099-990 |