From my personal experience, banking in Taiwan as a foreigner can be a painful and confusing experience. To help foreigners choose the best banking options and have a more pleasant banking experience in Taiwan, we have created this Taiwan Bank Comparison. If you are stuck with a terrible bank in Taiwan, chances are there are better banks out there.
Before you start this comparison, you may want to check out our Taiwan banking FAQ and guide which answers some basic questions about banking in Taiwan and lets you know how to set up a bank account here.
Please also note that this is not a comprehensive comparison of all banks in Taiwan. It is simply a general guide to the biggest banks in Taiwan that are most likely to best cater to Western foreigners. Information regarding each bank is subject to change, so for the most current info please reach out to each bank.
Basic Information about Banking in Taiwan
- Typically as a foreigner in Taiwan, you usually need to have the following to open a local bank account in Taiwan:
- An ARC (or employment gold card).
- A stamp/seal/chop (印章 Yìnzhāng) with your name on it (you can get one for about 100 NT at any locksmith shop (開鎖店 Kāisuǒ diàn). See the photo below for an example of a locksmith shop in Taiwan. Some banks may let you get away with just using a signature or fingerprint.
- Your passport.
- Fill out various paperwork.
- For opening corporate accounts in Taiwan, the process is similar but they will likely give you an e-key USB drive and password which you can’t lose, and which may be confusing to set up.
- Currently, the banking sector is very competitive for a small island of only 24 million people. There are a total of 36 local banks, 32 foreign banks, and 3 Mainland Chinese banks.
All of these banks have a three-digit code to differentiate them. - Most banks are only open Monday to Friday from 9 AM to 3:30 PM.
The only bank I know of that is open on Saturdays is the Chunghwa Post Office Bank, which is open on Saturday mornings. - For more information, check out our Taiwan banking FAQ and guide.
Local Banks
Before I start this comparison, let me just tell you that in general local banks in Taiwan simply do not cater to foreigners. Even though many of them have banking apps and online banking platforms in the English language with some degree of intuitiveness, overall foreigners are not their core customer base and many services (such as buying stocks and other investments) will not be available due to “anti-money laundering” worries and other risks that foreigners may pose.
In other words, even though some local banks are better than others, overall you will still run into bad service at almost any local bank in Taiwan. You are prone to meet a teller who has never seen a foreigner walk in the door and does not know the proper banking procedures for foreigners. This may involve hours of waiting and paperwork, and at the end of the day maybe nothing will be resolved (it’s happened to me and others many times).
The obvious best choice would be to use an international bank such as Standard Chartered 渣打國際商業銀行, HSBC 滙豐銀行, DBS Bank 星展銀行, or Citi Bank 花旗銀行, but they usually have high thresholds and don’t allow just any average Joe or Jane to walk in and open an account.
For most of us average foreigners, we can only choose from the best of the local banks. Sometimes we are even forced to open an account at a certain bank by our employer.
Without further ado, here is a list of each major bank in Taiwan, a summary of their online English services, and other information.
E. Sun 玉山銀行
Website: https://ebank.esunbank.com.tw/index.jsp
– The online Website is not completely in English, but having said that it has one of the best English interfaces of any bank I have used in Taiwan. I would say I like their interface the best; it is clear and easy to use. Therefore I would personally name E. Sun to have the No. 1 online banking platform for foreigners.
– Named to have the top five most ATMs in Taiwan. You can find their ATMs in most Carrefours.
– It has one of the biggest chains of bank branches in Taiwan.
Taipei Fubon Bank 台北富邦銀行
Website: https://ebank.taipeifubon.com.tw/B2C/common/Index.faces
– The online Website is completely in English, but having said that it is rather clunky and has an older-style interface that is not totally intuitive. I personally use their online banking and I am not a huge fan.
– There are relatively fewer ATMs in Taiwan.
– There are relatively fewer bank branches in Taiwan.
CTBC 中國信託
Website: https://www.ctbcbank.com/twrbc/twrbc-general/ot001/010
– The online Website and app are completely in English, but having said that it is also clunky and prone to bugs. I personally use this one too and I would say sometimes it is not clear how to operate the interface.
– Named to have the #1 most ATMs in Taiwan. You can find their ATMs in most 7-11s. This fact alone may make it the most convenient bank in Taiwan.
– It has one of the biggest chains of bank branches in Taiwan.
First Bank 第一銀行
Website: https://ibank.firstbank.com.tw/NetBank/index103.html
– The online Website is completely in English, however, it does not look very pretty. I personally have not used this one so I have nothing more to comment on.
– Named to have the top five most ATMs in Taiwan. You can find their ATMs in most Carrefours.
– It has one of the biggest chains of bank branches in Taiwan.
Cathay Bank 國泰銀行
Website: https://cathaybk.com.tw/mybank
– The online Website is 100% in English. I use their online banking platform personally, and it is okay. It is not the most pretty, and sometimes I do get confused.
– Named to have the top five most ATMs in Taiwan. You can find their ATMs in most Carrefours.
– It has one of the biggest chains of bank branches in Taiwan.
Shanghai Bank 上海銀行
Website: https://ibank.scsb.com.tw
– The online Website is not completely in English, and the interface is not pretty. I personally do use their online banking in real life, and it is really clunky. I also happen to know that they have limited English-speaking staff to help.
– Relatively fewer ATMs in Taiwan.
– Relatively fewer bank branches in Taiwan.
Mega Bank 兆豐銀行
Wesbite: https://ebank.megabank.com.tw/nib
– The online Website is not completely in English. At first glance, the interface does not look great. I have never used this bank so I have no further comments.
– Relatively fewer ATMs in Taiwan.
– Relatively fewer bank branches in Taiwan.
Changhua Bank 彰化銀行
Website: https://www.chb.com.tw/chbnib/faces/login/Login?locale=en_US
– The online Website is not completely in English, and the interface is not pretty. I personally do use their online banking in real life, and it is clunky. I also happen to know that they have limited English-speaking staff to help.
– Relatively fewer ATMs in Taiwan.
– It has one of the biggest chains of bank branches in Taiwan.
Taishin Bank 台新銀行
Website: https://my.taishinbank.com.tw/TIBNetBank/?Lang=en
– The online Website is completely in English. At first glance, the interface looks okay. I have never used this bank so I have no further comments.
– Named to have some of the most ATMs in Taiwan. You can find their ATMs in many convenience stores such as Family Mart.
– Relatively fewer bank branches in Taiwan.
Hua Nan Bank 華南銀行
Website: https://netbank.hncb.com.tw/netbank/servlet/TrxDispatcher?trx=com.lb.wibc.trx.Login&state=prompt&lang=EN&Recognition=private
– The online Website is not completely in English. At first glance, the interface does not look great. I have never used this bank so I have no further comments.
– Relatively fewer ATMs in Taiwan.
– It has one of the biggest chains of bank branches in Taiwan.
Far Eastern International Bank 遠東國際商業銀行
Website: https://www.feib.com.tw
– There simply is no English online banking platform. Unless you can read Chinese, it would probably be best to try another bank.
– Relatively fewer ATMs in Taiwan.
– Relatively fewer bank branches in Taiwan.
Bank Sinopac 永豐銀行
Website: https://mma.sinopac.com/MemberPortal/Member/NextWebLogin_EN.aspx
– The online Website is completely in English. The interface looks okay. I have never used this bank so I have no further comments.
– Relatively fewer ATMs in Taiwan.
– It has one of the biggest chains of bank branches in Taiwan.
Shin Kong Bank 光商業銀行
Website: https://nbank.skbank.com.tw/?_gl=1j83htw_gaMzAxNDMxNTU5LjE3MjU0MTc0OTM._ga_6DHDMPXEZY*MTcyNTQxNzQ5Mi4xLjAuMTcyNTQxNzQ5Mi42MC4wLjA.
– There simply is no English online banking platform. Unless you can read Chinese, it would probably be best to try another bank.
– Relatively fewer ATMs in Taiwan.
– Relatively fewer bank branches in Taiwan.
Taichung Bank 台中商業銀行
Website: https://ibank.tcbbank.com.tw/PIB/common/Login.faces
– The website is not completely in English. The interface looks older. I have never used this bank so I have no further comments.
– Relatively fewer ATMs in Taiwan.
– Relatively fewer bank branches in Taiwan.
Union Bank 聯邦銀行
Website: https://www.ubot.com.tw
– There simply is no English online banking platform. Unless you can read Chinese, it would probably be best to try another bank.
– Relatively fewer ATMs in Taiwan.
– Relatively fewer bank branches in Taiwan.
Sunny Bank 陽信銀行
Website: https://www.esunnybank.com.tw/sunnyNBWeb/index.seam
– The website is not totally in English. English seems to be an afterthought for login purposes only. I have no further comments because I have never used this bank.
– Relatively fewer ATMs in Taiwan.
– Relatively fewer bank branches in Taiwan.
Yuanta 元大銀行
Website: https://ebank.yuantabank.com.tw/nib
– The website is 100% in English. The interface looks okay. I have never used this bank so I have no further comments.
– Relatively fewer ATMs in Taiwan.
– Relatively fewer bank branches in Taiwan.
Land Bank of Taiwan 臺灣土地銀行
Website: https://lbotpt.landbank.com.tw/Default.aspx?rand=258753757
– The website is not totally in English. The interface is not pretty. I have no further comments because I have never used this bank.
– Relatively fewer ATMs in Taiwan.
– It has one of the largest chains of bank branches in Taiwan.
Bank of Taiwan 臺灣銀行
Website: https://ebank.bot.com.tw
– The website is not totally in English. The interface is not pretty. I have no further comments because I have never used this bank.
– Relatively fewer ATMs in Taiwan.
– It has one of the larger chains of bank branches in Taiwan.
– This bank is cool because it lets you trade in money for new, never used before notes and coins.
Taiwan Cooperative Bank 合作金庫商業銀行
Website: https://cobank.tcb-bank.com.tw/TCB.TWNB.IDV.NEW.WEB
– The website is not totally in English. The interface is not pretty. I have no further comments because I have never used this bank.
– Named to have the top five most ATMs in Taiwan. They have ATMs in RT-Mart and lots of other random places in Taiwan.
– It has one of the largest chains of bank branches in Taiwan.
Taiwan Business Bank 臺灣中小企業銀行
Website: https://ebank.tbb.com.tw/nb3/login?locale=en
– The website is not totally in English. The layout seems fresh and modern. I have no further comments because I have never used this bank.
– Relatively fewer ATMs in Taiwan.
– Relatively fewer bank branches in Taiwan.
Taiwan Post Office 中華郵政
Website: https://ipost.post.gov.tw/pstEN/home.html
– The website is totally in English. I have personally used their online banking and it can be confusing sometimes.
– #2 most ATMs in Taiwan.
– #1 most bank branches in Taiwan.
– Direct debit and other services may not be possible with this bank.
– The Taiwan Post Office is also a bank and offers banking services at most of its locations.
– The best part about Taiwan Post Office Bank is that it is open until 5 PM while other banks are only open until 3 PM, and it is open on Saturday mornings!
Hwatai 華泰銀行
Website: https://netbank.hwataibank.com.tw/NConsumerBank
– The website is not totally in English. The layout seems clunky like English was an afterthought. I have no further comments because I have never used this bank.
– Relatively fewer ATMs in Taiwan.
– Relatively fewer bank branches in Taiwan.
KGI Bank 凱基銀行
Website: https://www.kgibank.com/AccessibilityWeb/index.jsp?lang=en
– The website is not totally in English. The layout seems okay. I have no further comments because I have never used this bank.
– Relatively fewer ATMs in Taiwan.
– Relatively fewer bank branches in Taiwan.
Obank 王道商業銀行
Website: https://accessibility.o-bank.com/accbank/ac/acco0201/ACCO0201_010.faces
– The website is not totally in English. The layout seems clunky like they only use the mobile version of the website for English users. I have no further comments because I have never used this bank.
– Relatively fewer ATMs in Taiwan.
– Relatively fewer bank branches in Taiwan.
Entie Bank 安泰商業銀行
Website: https://www.entiebank.com.tw/InternetBank/Login
– The website is in English. The layout seems very primitive. I have no further comments because I have never used this bank.
– Relatively fewer ATMs in Taiwan.
– Relatively fewer bank branches in Taiwan.
Bank of Panhsin 板信商業銀行
Website: https://netbank.bop.com.tw/BOPBankC/Auth/Login.aspx
– The website is not totally in English. The layout seems clunky and primitive. I have no further comments because I have never used this bank.
– Relatively fewer ATMs in Taiwan.
– Relatively fewer bank branches in Taiwan.
Taipei Star Bank 瑞興商業銀行
Webiste: https://ebank.taipeistarbank.com.tw
– The website is not totally in English. The layout seems clunky like English was an afterthought. I have no further comments because I have never used this bank.
– Relatively fewer ATMs in Taiwan.
– Relatively fewer bank branches in Taiwan. I had never heard of this bank before researching this blog.
Koahsiung Bank 高雄銀行
Website: https://ibank.bok.com.tw/PIB/common/Login.xhtml
– The website is not totally in English. The layout seems a bit old-fashioned. I have no further comments because I have never used this bank.
– Relatively fewer ATMs in Taiwan.
– Relatively fewer bank branches in Taiwan.
International Banks
Standard Chartered 渣打國際商業銀行
Website: https://ebank.standardchartered.com.tw/scb/public/login?lang=en
– The website is totally in English. The layout seems good. I have no further comments because I have never used this bank.
– Relatively fewer ATMs in Taiwan.
– Relatively fewer bank branches in Taiwan.
– Because it is an international bank, you can be assured there will be an English-capable team with great service to back you.
HSBC 滙豐銀行
Website: https://www.hsbc.com.tw/en-tw/security
– The website is totally in English. The layout seems good. I have no further comments because I have never used this bank.
– Relatively fewer ATMs in Taiwan.
– Relatively fewer bank branches in Taiwan.
– Because it is an international bank, you can be assured there will be an English-capable team with great service to back you.
DBS Bank 星展銀行
Website: https://internet-banking.dbs.com.tw/digitw/login
– The website is totally in English. The layout seems good. I have no further comments because I have never used this bank.
– Relatively fewer ATMs in Taiwan.
– Relatively fewer bank branches in Taiwan.
– Because it is an international bank, you can be assured there will be an English-capable team with great service to back you.
Citi Bank 花旗銀行
Website: https://www.citi.com
– The website is totally in English. It looks like it is the best English interface of them all. I have no further comments because I have never used this bank.
– On August 12, 2023, Citigroup transferred Citibank (Taiwan)’s consumer finance division to DBS Bank; however, its corporate and institutional financial services in the Taiwan market continue to operate as usual.
– Almost no ATMs in Taiwan.
– Relatively fewer bank branches in Taiwan.
– Because it is an international bank, you can be assured there will be an English-capable team with great service to back you.
Banks with the Most Bank Branches in Taiwan
- Taiwan Post Office 中華郵政 (over 1200)
- Taiwan Cooperative Bank 合作金庫商業銀行 (over 200)
- First Bank 第一銀行 (over 180)
- Huanan 華南銀行 (over 180)
- Changhua Bank 彰化銀行 (over 180)
- Bank of Taiwan 臺灣銀行 (over 160)
- Land Bank of Taiwan 臺灣土地銀行 (over 140)
- Cathay Bank 國泰銀行 (over 160)
- CTBC 中國信託 (over 140)
- E. Sun 玉山銀行 (over 130)
- Bank SinoPac 永豐銀行 (over 120)
Banks with the Biggest Working Capital Amounts in Taiwan:
- CTBC 中國信託
- E. Sun 玉山銀行
- Taipei Fubon Bank 台北富邦銀行
- Taiwan Cooperative Bank 合作金庫商業銀行
- Bank of Taiwan 臺灣銀行
- Cathay Bank 國泰銀行
- Changhua Bank 彰化銀行
- First Bank 第一銀行
- Taiwan Post Office 中華郵政
- Huanan 華南銀行
- Bank SinoPac 永豐銀行
- Taishin Bank 台新銀行
- Land Bank of Taiwan 臺灣土地銀行
- Mega Bank 兆豐銀行
- DBS Bank 星展銀行
- Taiwan Business Bank 臺灣中小企業銀行
- Yuanta 元大銀行
- Taichung Bank 台中商業銀行
- Citi Bank 花旗銀行
- Shin Kong Bank 光商業銀行
- Shanghai Bank 上海銀行
- KGI Bank 凱基銀行
- Far Eastern International Bank 遠東國際商業銀行
- Union Bank 聯邦銀行
- HSBC 滙豐銀行
Source: https://rank.twincn.com/rank.aspx?code=%E6%9C%AC%E5%9C%8B%E9%8A%80%E8%A1%8C(641211)
Banks with the Most ATMs in Taiwan
- CTBC 中國信託 (over 3,000)
- Taiwan Post Office 中華郵政 (over 3,000)
- Cathay Bank 國泰銀行 (over 3,000)
- First Bank 第一銀行
- Taiwan Cooperative Bank 合作金庫商業銀行
- E. Sun 玉山銀行
- Taishin Bank 台新銀行
Comparison Table of Taiwan Banks
Conclusion
The best banks in Taiwan for foreigners are going to be international banks like Standard Chartered 渣打國際商業銀行, HSBC 滙豐銀行, DBS Bank 星展銀行, or Citi Bank 花旗銀行 every time.
However, if you have to choose a local bank, go with the one with the best-looking English online banking, most ATMs, and most banking locations. That would be most of the banks in the list with the most ATMs which are CTBC 中國信託, Taiwan Post Office 中華郵政, Cathay Bank 國泰銀行, First Bank 第一銀行, Taiwan Cooperative Bank 合作金庫商業銀行, E. Sun 玉山銀行. Of these, I like E. Sun’s banking app and online interface the best. However, the Taiwan Post Office has the most locations and longest operating hours (even open on Saturday). If I could choose on my own, I would probably go with the post office, but they usually do not offer salary payment services, so your employer will probably ask that you use another bank.
Whatever your employer chooses, you can always open an account at another, better bank and transfer your money there.
There may be other factors you are considering when choosing a bank, such as the best credit card, the best loan interest rate, or transaction fees. I would recommend you study each bank further on your own according to your needs. For more information about taking out a loan check out our buying a house in Taiwan guide here, or our experience buying a house in Taiwan here.
I hope this information is useful to you. Let us know if we missed any details in the comments.
