Yes, but you need an ARC and the right documents

Foreigners can open a bank account in Taiwan, but not all banks accept them and the process depends on your visa status. Most banks require an Alien Resident Certificate (ARC) — the ID card you get after living in Taiwan for more than 183 days in a calendar year. Without an ARC, your options narrow to a handful of banks and you may only get a savings account, not a checking account.

If you have an ARC, nearly every bank will open an account for you. If you don't have one yet, you can still open an account at certain banks like Cathay United Bank, E.Sun Bank, and some branches of Taiwan Cooperative Bank, but expect slower service and fewer account types available. The process itself takes 15 to 30 minutes in-branch once you have your documents ready.

Key Takeaways

  • An ARC is the fastest path to a full bank account at any major bank in Taiwan, and most banks will not open accounts for tourists or short-term visa holders.
  • Without an ARC, you can still open a savings account at E.Sun Bank, Cathay United Bank, and some Taiwan Cooperative Bank branches using your passport and proof of address.
  • You will need your passport, ARC (if you have one), proof of address in Taiwan, and a phone number; some banks also ask for proof of income or employment.
  • Opening an account in person at a branch is the only reliable method — online and mail applications for foreigners are rare and often rejected.
  • Once your account is open, you can use online banking, ATMs, and transfers immediately; debit cards arrive by mail within one to two weeks.

What documents you need to bring

Bring your passport and your ARC (if you have one). The ARC is your primary ID for banking purposes; your passport alone is not enough for most banks. You also need proof of address in Taiwan — a utility bill, rental contract, or residence registration certificate (issued by your local household registration office) dated within the last three months. Some banks accept a letter from your employer or school on official letterhead instead.

A few banks ask for proof of income or employment, especially if you are opening a checking account or requesting overdraft access. This can be a recent payslip, an employment contract, or a letter from your employer. Have your Taiwan phone number ready; banks use it for account notifications and fraud alerts. If you do not have a Taiwan phone number yet, some banks will let you use a foreign number temporarily, but you should get a local SIM card before you go in.

Which banks accept foreigners without an ARC

E.Sun Bank is the most foreigner-friendly option. Most E.Sun branches will open a savings account for you with just a passport and proof of address, even without an ARC. You can do this as a tourist or on a short-term visa. The account opens the same day, and you get online banking access immediately.

Cathay United Bank also accepts foreigners without an ARC at many branches, though policies vary by location. Call ahead to confirm your nearest branch will open an account for you. Taiwan Cooperative Bank has some branches that accept foreigners, but it is inconsistent — ask at the branch directly rather than assuming.

Most other major banks (First Bank, Taipei Fubon Bank, Mega Bank, Bank of Taiwan) require an ARC. If you are on a tourist visa or a short-term work or student visa, E.Sun is your most reliable choice. Once you get your ARC, you can switch to any bank or open additional accounts.

The step-by-step process at the bank

Walk into a branch during business hours (usually 9 a.m. to 3:30 p.m. on weekdays; some branches open Saturday mornings). Take a number and wait. When called, tell the teller you want to open a savings account or checking account. Hand over your passport, ARC, and proof of address.

The teller will ask you to fill out an account opening form in Chinese and English. It asks for your name, date of birth, address in Taiwan, occupation, and phone number. You will also sign a signature card so the bank has your signature on file. The teller will explain your account type, fees, and online banking setup. Some banks offer a small gift (a pen, a notebook) for new accounts.

You will receive a temporary account number on the spot. Online banking access is usually active within a few hours. Your debit card arrives by mail within one to two weeks — the bank will mail it to your address in Taiwan. You can start transferring money and paying bills online before the card arrives.

Online and mobile banking setup

Once your account is open, ask the teller to set up online banking for you before you leave. They will give you a username and a temporary password. You log in on the bank's website or app, change your password, and set up two-factor authentication using your phone number. Most banks send a one-time code via SMS for each login or transfer.

Taiwan's banking system uses a physical security token for large transfers or sensitive changes. Some banks mail you a small device that generates a code; others use an app instead. This is standard practice and not unique to foreigners. You can transfer money domestically (to other Taiwan bank accounts) and internationally (to accounts outside Taiwan), though international transfers take two to five business days and incur fees of 100 to 300 TWD depending on the bank.

Fees and account types

Most banks charge no monthly fee for a basic savings account. Checking accounts (called demand deposit accounts) may have a small monthly fee (50 to 100 TWD) if your balance falls below a threshold, usually 5,000 to 10,000 TWD. Interest rates on savings accounts are very low — typically 0.01 to 0.05 percent annually — so do not expect meaningful returns.

ATM withdrawals at your bank's machines are free. Withdrawals at other banks' ATMs cost 5 to 10 TWD per transaction. Transfers to other Taiwan bank accounts are free. International wire transfers cost 100 to 300 TWD plus a small percentage of the amount sent. Debit card purchases are free, and most merchants in Taiwan accept cards, though small shops and night markets still prefer cash.

What happens if you leave Taiwan

You can keep your Taiwan bank account open after you leave, even if your ARC expires. The bank will not close it automatically. You can continue to receive transfers into the account and withdraw money using your debit card abroad (subject to your card's international access settings). However, some banks may freeze or close accounts that show no activity for a year or more.

If you plan to leave permanently, contact your bank and let them know. Ask whether they will keep the account open and what the policy is on inactive accounts. You can also arrange for automatic bill payments or transfers to keep the account active. If the account is closed, you will need to withdraw any remaining balance before you leave or arrange for the bank to mail you a check.

Frequently Asked Questions

Can I open a bank account as a tourist in Taiwan?

Yes, at E.Sun Bank and some branches of Cathay United Bank and Taiwan Cooperative Bank. You will need your passport and proof of address in Taiwan (such as a hotel booking or rental agreement). You can only open a savings account, not a checking account, and some features may be limited. Once you get an ARC, you can open a full account at any bank.

Do I need a Taiwan phone number to open an account?

It is strongly recommended. Most banks use your phone number for account notifications and fraud alerts. If you do not have a Taiwan number yet, some banks will accept a foreign number temporarily, but you should get a local SIM card before you apply. A prepaid SIM costs 100 to 300 TWD and can be bought at any convenience store.

How long does it take to get a debit card?

Your account opens the same day, and you can use online banking and ATMs immediately. Your physical debit card arrives by mail within one to two weeks. The bank will mail it to your address in Taiwan. If you need a card urgently, ask the teller whether the branch can issue a temporary card on the spot.

Can I open an account online or by mail?

Online and mail applications for foreigners are rare and often rejected by Taiwan banks. In-person at a branch is the only reliable method. Bring your documents and go during business hours. The process takes 15 to 30 minutes.

What if my proof of address is a hotel booking or Airbnb reservation?

Some banks accept hotel bookings or Airbnb confirmations as proof of address, especially if you are a tourist. However, a utility bill, rental contract, or residence registration certificate is stronger. If you are staying short-term, ask the bank directly whether your booking will be accepted before you go in.