How to open a bank account in Taiwan
Written by Haitao Ouyang
Most banks in Taiwan require applicants to visit a branch to open an account. Although some banks in Taiwan are starting to offer digital accounts that can be opened online, they usually only accept applications from Taiwanese. In addition, there are currently 68 banks in Taiwan, So I would choose a local bank that is the easiest and cheapest to open an account with — Bank of Taiwan and E.SUN BANK — as examples of how to open an account. Most banks in Taiwan offer different types of deposit accounts, mainly “ Current Accounts” and “Savings Accounts”. The main difference between “ Current Account” and “Savings Account” lies in the target audience and the deposit interest rate. The latter is more suitable for general personal application, and the deposit interest rate is also higher.
1. A national or permanent resident of that country（Bank of Taiwan）
- Adults in Taiwan who are fully capable of applying for a bank card need to prepare seals, national ID cards and secondary identity documents such as passports, driver’s licenses, and other supporting documents, and those who have photo identification documents are preferred.
- Legal representative to open an account on behalf of: A minor in Taiwan opening an account requires not only the minor’s seal, national ID card (under the age of 14 years old can be replaced by the account book or family register transcript) and a second identity document, but also the parent’s seal and national ID card, as well as the parent’s signature and seal “Consent Letter on Application for Deposit Services by Minors”
- Minors come to open accounts on their own (At least 7 years of age): You will need to bring a stamp, your national ID card (under 14 years of age, you can use your account book or a copy of your family register instead), and a second ID card, such as a student ID card. In addition, both parents’ national ID cards and the “Consent Letter on Application for Deposit Services by Minors” signed and stamped by the parents are also required.
Here is the link to “Consent Letter on Application for Deposit Services by Minors”.
https://www.bot.com.tw/Images/File/GetFileId/6aff5a9e-071a-4be4-a161-68fb2c936db0
2. A student studying in that country（Bank of Taiwan）
Students studying in that country need to prepare their passports, student ID cards and a valid residential address in Taiwan. Students who are minors will need both parents’ national IDs and consent forms.
3. A visitor who does not have either a student visa or is a permanent resident. A tourist（Bank of Taiwan）
To open a bank account in Taiwan, a foreigner must go to the bank in person to open an account.
- Foreigners holding a residence permit (including overseas Chinese, Hong Kong and Macau residents and non-nationals) are required to prepare a residence permit issued by the Ministry of the Interior as well as other identifying documents, such as a passport.
- Foreigners who do not hold a Residence Permit or who are non-nationals (including overseas Chinese, Hong Kong and Macau residents and non-nationals) are required to prepare a passport with a legal entry visa, or an alien certificate and a ROC Uniform Identification Number Basic Information Form. Other identifying documents may also be prepared.
- Minors are also required to prepare a Residence Permit issued by the Ministry of the Interior, as well as other identifying documents, such as a passport or student ID card.
Cost to open account
Most banks in Taiwan charge around NT$100 to open an account, e.g. E.SUN BANK charges NT$100 to open an account.
https://www.esunbank.com.tw/wealth/goldpassbook/index4.htm
Are foreign students allowed to open such accounts?
Are tourists allowed to open accounts?
Yes, banks in Taiwan allow students and tourists to open savings accounts, such as Bank of Taiwan and E.SUN BANK. And students applying for a credit card need to be evaluated based on their financial situation
Online account opening application process（E.SUN BANK）
Notice: Online account opening is only applicable to Taiwanese, foreigners can schedule an appointment online and go to the branch to open an account.
Step1：Identification
Notice: For foreigners, account opening is only available at branches, So the foreigner needs to schedule an appointment and then go to a branch to open an account.
Step 2：Purpose of the Account
Step 3：Account and Services
Step 4：Personal Information
Step 5：Application Complete
https://www.esunbank.com/zh-tw/marketing/digital/openaccount-parallel