Using a Taiwan Bank Account

Find out about the products and services available from banks in Taiwan, plus bank opening times...

When a bank card is used to withdraw money, the maximum that can be taken out of an account in one day is NT$ 100,000. No more than NT$ 30,000 can be withdrawn per transaction.

All banks have a 24-hour customer service centre that should be contacted if a card is lost or stolen. They can cancel the card, block transactions and arrange a replacement. A lost card form needs to be completed as soon as possible. Many banks set their own fees for such services.

Automatic Teller Machines

ATMs can be found outside banks and in many public places including railway stations, airports, convenience stores, shopping malls and petrol stations. Most ATMs offer services in both Chinese and English. They provide a 24-hour service allowing customers to access their money, pay taxes and utility bills, transfer funds and pay parking fines, credit card bills, insurance premiums and tuition fees. It is normal for a small fee to be charged for using the ATM of a different bank to that with which the account is held.

Cheques

Personal cheques are not used in Taiwan, which is largely cash-based. Payment of rent and tuition, for example, is either made with an ATM transfer or paid in cash. Credit cards are generally accepted by larger shops and hotels.

Online Banking

Most Taiwanese banks offer online banking services, although not all of them maintain English-language websites. To activate Internet banking, a customer should visit their local branch with the following documents:

  • A passport
  • Alien Resident Card (ARC)

Either a signature or personal seal is also needed.

Anyone who has not received their ARC should get a “Record of ID Number in the ROC” from the National Immigration Agency.

Credit Cards

Foreigners living in Taiwan can apply for an international credit card. An applicant’s residency status, income and an assessment of their debt repayment ability determines the credit limit and validity period of the card. The following documents are required to obtain a credit card:

  • Completed application form
  • A valid passport
  • Alien Resident Card (ARC)

Some banks also require a guarantor.

Opening Hours

Most banks in Taiwan are open Monday to Friday from 09:00 to 15:30.