If you’re planning to stay in Taiwan for an extended period, you should consider opening a local bank account. While some foreign banks maintain branches in Taiwan, an account at a local bank usually offers greater convenience and lower (or zero) currency conversion fees. Keep in mind that not all ATMs accept foreign credit or debit cards.

The easiest place to open an account is at the post office across the NCCU main gate (the Taiwan postal system offers a full range of banking services), or any branch of First Bank (第一銀行), especially if you are receiving or plan to apply for a scholarship, as NCCU typically only remits scholarship funds to these two institutions.

Postal Account

In addition to mail services, Taiwan’s post offices provide savings accounts, remittances, and simple life insurance policies. To open a saving account in the postal office, bring the following items to any post office:

1. New Account Application Form (available at post office)
2. Alien Resident Certificate (ARC)
3. Valid Passport
4. A seal with your Chinese name in traditional characters
5. Minimum deposit of NTD100

If you want to open an account but don’t have an ARC, first bring your passport to the National Immigration Agency and apply for a ROC Uniform ID Number.

Application form: Download
More information: Click here

For more Postal Saving account information, please visit the official website of Chunghwa Post Co.

The postal office closest to NCCU is Wenshang Zhinan branch, located at the corner across from the NCCU front gate.

Bank Account

NCCU operations, including scholarship remittances, are handled through the First Commercial Bank, which offers complete banking services, and maintains a branch about a 15-minute walk from the main campus.

To open a bank account, you are required to do the following:

1. Bring your ARC and passport. While locals typically open the bank accounts with a personal “chop”, your signature can serve instead (make sure it’s consistent with the signature on your passport).
2. Use your Chinese name as the account name.
3. Deposit a minimum of NT$1,000

To open an account without an ARC, first, bring your passport to the National Immigration Agency and apply for a ROC Uniform ID Number.
Application form: Download
More information: Click here 

For further information on opening an account at First Commercial Bank, visit their official website.

Commercial banks impose special restrictions on accounts for people under the age of 20. Students under 20 are thus encouraged to use the post office banking system.

The First Bank branch Muzha branch is the one closest to NCCU, about a 15-minute walk from campus. More information.