What you need to open a bank account in Taiwan
To open a bank account in Taiwan, you need a valid passport, proof of address in Taiwan, and a Tax ID Number (TIN). Most banks also require you to visit a branch in person — there is no fully remote process. The entire process usually takes 15 to 30 minutes at the branch, though some banks may ask you to return for a follow-up appointment if your documents are incomplete.
If you are a resident (holding an Alien Resident Certificate or ARC), you can open an account at any major bank. If you are a visitor or short-term resident without an ARC, your options are more limited. Some banks will open accounts for tourists, but they often impose lower transaction limits or require a larger minimum deposit. The easiest path depends on your residency status and how long you plan to stay.
Key Takeaways
- You must visit a bank branch in person with your passport and proof of Taiwan address; no fully online process exists for foreigners.
- A Tax ID Number (TIN) is required and can be obtained from the National Tax Bureau on the same day you apply, or you can request one before visiting the bank.
- Residents with an Alien Resident Certificate (ARC) face no restrictions, but tourists and short-term visitors may encounter account limits or higher minimum deposits.
- Major banks like Taiwan Bank, First Bank, and Cathay United Bank have English-speaking staff at larger branches and are generally the most foreigner-friendly.
- Bring original documents plus copies; banks will not accept digital photos or scans of your passport or proof of address.
Getting a Tax ID Number before you visit the bank
A Tax ID Number (TIN) is a nine-digit identifier issued by Taiwan's National Tax Bureau. Banks require this number to open an account. You can obtain one in two ways: apply before visiting the bank, or request one at the bank branch itself during account opening.
To apply in advance, visit the National Tax Bureau office in person with your passport and proof of Taiwan address. Bring both originals and copies. The office will issue your TIN on the spot, usually within 10 to 15 minutes. If you do not have a proof of address yet (for example, if you just arrived), you can use a temporary address such as your hotel or your employer's office, and update it later.
Alternatively, many banks can request a TIN on your behalf during account opening. This adds 10 to 15 minutes to the process but saves you a separate trip. Ask the bank staff whether they offer this service when you call ahead.
Proof of address and what documents to bring
Banks require proof that you live in Taiwan. Acceptable documents include a lease agreement, a utility bill (electricity, water, or gas), a rental contract, or a letter from your employer or school confirming your address. The document must show your name and a Taiwan address. If you have just arrived and do not yet have a utility bill or lease, a letter from your accommodation provider or employer is usually sufficient.
Bring originals and photocopies of all documents. Banks do not accept digital photos, screenshots, or scans sent by email or messaging apps. If you do not have a copier, most convenience stores (7-Eleven, FamilyMart) have copy machines available for a small fee. Some bank branches also have copy machines you can use on-site.
Your passport must be valid for at least six months beyond the date you open the account. If your passport is expiring soon, renew it before visiting the bank.
Which banks are easiest for foreigners
Taiwan's major banks all accept foreign account holders, but some have better English support and faster processes. Taiwan Bank, First Bank, and Cathay United Bank have English-speaking staff at their main branches in Taipei, Taichung, and Kaohsiung. Branches in smaller cities or rural areas may have limited English support, so call ahead if you are not in a major city.
Smaller regional banks and credit cooperatives may require you to bring a Taiwanese friend or colleague to translate, or they may refuse to open accounts for foreigners altogether. If you are outside a major city, call the branch first to confirm they will open an account for a foreigner before making the trip.
Online banks such as LINE Bank and Rakuten Bank offer some services to foreigners, but they still require an in-person visit to verify your identity and collect your signature. They do not reduce the number of trips you need to make.
Account types and minimum deposits
Most banks offer a standard savings account (活期存款) with no minimum deposit requirement, though some branches may ask for a small deposit to activate the account — typically between 100 and 500 Taiwan dollars. Ask the bank staff what their minimum is before you visit.
If you are a resident with an ARC, you have access to all account types. If you are a tourist or short-term visitor, some banks will restrict you to a basic savings account and may impose a daily withdrawal limit (often 10,000 to 50,000 Taiwan dollars per day) or a monthly transaction limit. These restrictions vary by bank and branch, so ask when you call ahead.
You do not need to maintain a minimum balance to keep the account open, but if your account sits inactive for several years, the bank may freeze it. You can reactivate it by visiting the branch again.
What happens after you open the account
Once your account is open, the bank will issue you a passbook (存摺) and a debit card. The passbook is a small booklet that records all your transactions; you can bring it to the bank to update it at any time. The debit card works at ATMs and merchants throughout Taiwan and internationally, though you may face foreign transaction fees if you use it outside Taiwan.
You will also receive a PIN (personal identification number) for your debit card and online banking. Write down your account number and keep it safe. You will need it to set up direct deposits, wire transfers, or bill payments.
Most banks offer free online banking (網路銀行) in Chinese and English. You can log in using your account number and a password you create. Online banking lets you check your balance, transfer money between accounts, and pay bills without visiting a branch. Some banks charge a small fee (usually 100 to 200 Taiwan dollars per year) for international wire transfers or other services, so review the fee schedule before you open the account.
Opening an account as a tourist or short-term visitor
If you do not have an Alien Resident Certificate (ARC) and are staying in Taiwan for less than six months, your options are limited. Some banks will open a basic savings account for tourists, but they typically require a larger minimum deposit (500 to 1,000 Taiwan dollars or more) and impose transaction limits.
Before visiting a branch, call ahead and ask whether they open accounts for tourists. Explain your length of stay and ask about any restrictions or fees. If the bank refuses, try another branch or another bank — policies vary even within the same bank chain.
If you cannot open a bank account, you can still receive money through international wire transfer to someone else's account, or use a money transfer service such as Wise or OFX to move money into Taiwan. These services charge a fee but do not require a local bank account.
Frequently Asked Questions
Can I open a bank account online without visiting a branch?
No. All banks require you to visit a branch in person to verify your identity and provide original documents. There is no fully remote process for foreigners. Some banks may let you start the application online, but you must complete it at a branch.
What if I do not have proof of address yet?
A letter from your employer, school, or accommodation provider confirming your address is usually sufficient. If you are staying at a hotel, ask the front desk for a letter on hotel letterhead. You can update your address later once you have a lease or utility bill.
How long does it take to open an account?
The process usually takes 15 to 30 minutes at the branch. If the bank requests your TIN on your behalf, add another 10 to 15 minutes. If your documents are incomplete, the bank may ask you to return with additional paperwork, which adds another visit.
Can I use my account to send money outside Taiwan?
Yes. You can make international wire transfers from your account, though the bank will charge a fee (typically 300 to 500 Taiwan dollars per transfer) and the process takes three to five business days. Some banks also offer online transfer services to major countries at lower fees.
What happens to my account if I leave Taiwan?
Your account remains open and active. You can continue to use it to receive deposits and make withdrawals through ATMs or online banking. If you do not use the account for several years, the bank may freeze it, but you can reactivate it by visiting a branch or calling customer service.