Taiwan launches one-stop banking services for foreign residents

Taipei, June 4 (CNA) Taiwan on Thursday launched a one-stop banking initiative aimed at making it easier for foreign residents to access financial services, designating six banks to provide streamlined account opening, credit card and international transfer services.

The National Development Council (NDC) certified six participating institutions: CTBC Bank, E.SUN Commercial Bank, Taipei Fubon Commercial Bank, Taishin International Bank, Mega International Commercial Bank and First Commercial Bank. Together, they will offer the services at 17 designated branches across Taiwan.

Speaking at the launch ceremony, NDC Deputy Minister Jan Fang-guan (詹方冠) said foreign residents have long faced difficulties opening bank accounts, obtaining credit cards and making international wire transfers.

Many newcomers without a local credit history have been denied credit cards or asked to provide a Taiwanese guarantor, creating a significant barrier for international professionals settling in Taiwan, Jan said.

Taiwan has attracted a growing number of foreign professionals since the implementation of the Act for the Recruitment and Employment of Foreign Professionals in 2018, with more than 15,000 Employment Gold Cards issued to date, he said.

Under the initiative, participating banks will be encouraged to accept overseas proof of income and foreign tax records when reviewing credit card applications and to waive Taiwanese guarantor requirements.

Banks will also introduce online appointment systems that allow customers to submit documents and discuss their needs in advance, enabling services such as account opening, credit card applications, wire transfer setup and multi-currency banking to be completed in a single visit.

In addition, designated branches will establish dedicated counters and assign specialist staff to assist foreign clients.

According to Financial Supervisory Commission Banking Bureau Deputy Director General Chang Chia-kuei (張嘉魁), more than 2,000 bank branches offered bilingual services as of the end of 2025, while over 80 percent of ATMs supported multiple languages.

The NDC said it would continue refining the program and work with other government agencies on measures such as housing and education support to improve Taiwan's attractiveness to international talent.