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by Superray

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Opening a bank account in Taiwan is essential for long-term stays—whether you’re working, studying, or planning to rent a home. This guide walks you through the process step-by-step, including documents required, recommended banks, and common issues foreigners face.

🏦 Why You Need a Taiwanese Bank Account

Having a local bank account will help you:

  • Receive your salary (if working in Taiwan)

  • Pay rent and utility bills

  • Link to your mobile SIM and ARC records

  • Shop online on Taiwanese e-commerce platforms

It’s also often required when signing contracts like housing leases or setting up direct deposit for work.

📄 Step 1: What Documents Do You Need?

To open a bank account in Taiwan as a foreigner, you typically need the following:

Document Required For Notes
Passport ✅ Must be valid
ARC (Alien Resident Certificate) ✅ Must be current
Local Address Proof ✅ Rental contract or utility bill
Secondary ID (optional) ❓ May include driver’s license or student ID

🔐 Some banks may also ask for:

  • A work permit or student enrollment proof

  • A Taiwanese phone number

🏦 Step 2: Choose the Right Bank

Not all banks in Taiwan are foreigner-friendly. These are the most recommended banks for foreigners:

Bank Name Pros Notes
Taiwan Bank (台灣銀行) Safe, widely accepted Government-owned, formal
ESUN Bank (玉山銀行) English service, app in English One of the most foreigner-friendly banks
CTBC Bank (中國信託) Good for international transfers App and online banking support
Mega Bank (兆豐銀行) Supports NTD + USD accounts May require local contact info

🧑‍💼 Pro Tip: Visit a larger branch or one near a university—they tend to be more familiar with foreign clients.

🏛️ Step 3: Go to the Bank in Person

Taiwanese banks rarely allow online account opening for foreigners. You need to visit a branch in person.

✅ What to expect:

  • Take a number and wait to be called.

  • Bring all required documents.

  • Staff may speak limited English—bring a friend or translator if needed.

💡 Some banks may allow you to open an NTD savings account only at first. After a few months or when you get a work permit, you can upgrade to an NTD + foreign currency account.

💳 Step 4: What Type of Account Can You Open?

Most foreigners start with:

  • NTD Savings Account

  • With or without ATM card (debit card)

  • With online banking access (must request)

You may be able to:

  • Link to mobile banking apps

  • Apply for foreign currency accounts later

  • Set up automatic rent payments

🧾 You can use your bank book (存摺) and ATM card at thousands of ATMs around the island.

🌍 Step 5: International Transfers

If you need to send or receive money from overseas:

  • CTBC and Mega Bank are good for international wires.

  • Make sure your name matches your passport exactly.

  • Some banks may require a remittance purpose declaration.

🪙 SWIFT codes and fees vary. Ask the bank for exact details if you’re wiring funds internationally.

❗ Common Issues Foreigners Face

  • ❌ No ARC = very limited or no account access

  • ❌ Some banks won’t accept temporary addresses (e.g., hotels)

  • ❌ Communication issues at smaller branches

✅ TRA Tip: If you use TRA’s rental assistance service, we’ll help you prepare a rental agreement in your name, which banks accept as valid proof of address.

Final Thoughts

Opening a bank account in Taiwan can seem daunting, but with the right documents and a little patience, it’s totally doable. We recommend starting this process after you’ve secured housing and have your ARC. If you need help with either, TRA (Taiwan Rental Assistance) can support you every step of the way.

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