Chinatrust? HSBC?

[taiwantech]

Okay, after a little research I'd settled on HSBC as my local bank account. Partially as I'm familiar with the brand and they definitely offer online English banking and transfers etc.

I've just found out that Chinatrust stay open until 7 though. This is a real pull for me as I'll be unable to visit the branch without taking time off owing to the 9-5.

Anybody here use either bank? I found a thread on Banking and it had some useful info in but was limited and had only a little recent info. What's the skinny these days? I only want somewhere to deposit my pay into and be able to transfer to my account back home in ol' Blighty

[tomthorne]

I have no trouble transferring money from my Taiwan Chinatrust account through to my UK HSBC account. The first time I did it I had to speak to the Chinatrust staff to comfirm that I am who I am, but after that it's just been an overnight transfer. I've heard that the process is pretty much identical if you have an HSBC account in Taiwan. The HSBC banks here are not linked to HSBC banks in the UK so it isn't any easier or more difficult. I don't have an online service with Chinatrust, though.

[taiwantech]

Is that because they don't offer it or you never asked for it? This is important to me

[tomthorne]

Is that because they don't offer it or you never asked for it? This is important to me

I've never asked them for online banking.

[Super Hans]

Beware of China Trust.

Yeah, their staff always look good in their flight-attendant style uniforms, and their product range is typical for a decent high street bank.
Once, I was out of the country - I'd just changed my card and had the necessary PIN installed so I can withdraw from cash points outside Taiwan, but for some reason this wasn't logged.
When I tried to use my card abroad, it didn't work. I called the office in France and they transferred me to London who then transferred me to Taiwan - a very pleasant young man indeed.

He said that there was nothing he could do - I'd have to come back to Taiwan to change the PIN.

"Yes. Chappy. But the money I intended to use for this particular trip IS IN YOUR BANK."

"Sorry Sir, but you'll have to come back to Taiwan. There's nothing I can do here. Do you have a credit card or another bank account you can use?"

"Oh. Thanks. Yeah,. Why didn't I think of that? That"s not the point though, is it. I'm using your service."


So my advice is if you use China Trust:

Make sure you transfer your accounts before you leave the country and that the deed is actually finished, in case you have to come back to sign something they forgot to ask you to sign, or have another number for something. I tried to transfer my account while overseas in order to solve this little muddle, but they wouldn't let me do that either. The last thing you want is to have all your money stuck in Taiwan. Even though the customer service reps are really nice, and they are open 'till 7pm, I don't rate their reliability too highly.

This happened twice, by the way.

[taiwantech]

Hmm well luckily I just want the account for local use and to transfer to my English account.

Your reply is helpful. However you do not state whether or not you use online banking and how good it may be. I guess all I really want to know is do they offer a decent online service. Transfers etc

[riceworm]

Chinatrust offers excellent online banking, but the user interface is in Chinese only.

[taiwantech]

Lol
Well that's exactly what I wanted to know.

[catfish13]

The banking system in Taiwan seems to be built on a model of having to inconvenience the hell out of the customers in order to achieve a false sense of security and peace of mind...if you needed to do any banking and forgot to bring that little stupid seal, sorry, no dice.

"But I'm me! Here are my ARC, passport, NHI card, and driver's license complete with photos! I can recite my address, date of birth, landline and cell numbers forwards and backwards, in English, Mandarin, Taiwanese, and Hakka! I can sign my name in English, Simplified Chinese and Traditional Chinese with both my left and right hands! Give me my money!"

"Sorry sir, there is nothing we can do for you without the seal. We can, however, file a form for you claiming that you lost the old seal and need a new one to replace the old one, but that would require that you go out and get a new seal and come back in time before the bank closes at 3:30pm..."

Anyways, rant aside. If you are only planning on using your bank money locally, then I would go with Chinatrust. They seem to work with a lot more merchants and you can get discounts when you charge things to your Chinatrust card (I believe Visa debit cards count too). Plus, Chinatrust ATM's are just about everywhere. Although I do believe that their tellers would only process transactions of more than NT$30,000 in person, and for anything less than that you have to use their ATM's.

[Charlie Phillips]

HSBC is the best if you want to hold multiple currencies. You only need to go to the physical branch once to set up your account then you have internet banking in english. With a Premier account, you can transfer between your multiple currency accounts at NO CHARGE. You can withdraw from international branches for FREE, and HSBC is everwhere.