Job Discussion Forums

Therkiel · Joined: 26 Sep 2003 Posts: 3 Location: pennsylvania, us

I was planning to move to Taiwan in early June to teach English, and I had a question or two some people may be able to answer. I did a bit of research on banks there, and I can't seem to find any info on debit cards. Do they simply not exist? Basically, from what it seems, is that they have ATM cards, and credit cards, but not a debit card in which you can pay something like a credit card and have the money directly withdrawn from your account. If there is such a thing, please correct me, as I'm a trifle concerned how I'm going to pay my school loans abroad, without having to pay a staggering wire-fee every month. Any info helps, whether on banks, or school loans (such as how you paid your loans, as I'm sure at least some of you have/had some) Very Happy

Ther

jason_seeburn · Joined: 26 Apr 2003 Posts: 399 Location: Toronto

brian · Joined: 15 May 2003 Posts: 299

There was some discussion regarding this in an ealier thread:

http://www.eslcafe.com/forums/job/viewtopic.php?t=6506

Since you are still at home it seems that it may be best to get yourself an American Express card before you come. Use the card to make your loan repayments and just pay off your American Express repayments here in Taiwan in NTD without the need to pay a curency exchange.

Not sure if this would prove suitable for you but if so it seems that it would be a good option.

Aristotle · Joined: 16 Jan 2003 Posts: 1388 Location: Taiwan

What can I tell you about banks in Taiwan?
My best advice is to avoid them if at all possible. They are inefficient, slow and outdated at their best. Only City bank has forms in English and most foreigners find it impossible to get a credit card from a Taiwanese bank. The reasons for this vary but the results are almost always the same. In reality it is just another form of the anti- foreigner racism encouraged by the government of the ROC.
You may find that your money has been lost in the computer or that someone has copied your ATM card and drained your account. It seems that another bank or financial institution goes under every month, next month it may be your bank. There is no FDIC in Taiwan and foreigners are second-class residents with little to no rights or guanxi.