Expert Info
on 6 Jul 2012
I read on a Taiwan tourism website that I can draw money straight out of my account at home and some ATMs will even show my bank balance in my home country's currency (which in my case is South Africa). I'm not sure I believe this - I have a friend in Taiwan who is teaching English and she said she had to open a Taiwanese bank account. Who is right?
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They're both right. If you're going to teach English, you may need to open a Taiwanese bank account just because some employers will insist on paying your salary to a Taiwanese account (I think its cheaper). Wait till you know you will need to do so before going ahead, as it would be better to keep your money off shore - but don't worry, if you do need to open an account, it's a fairly simple process. Take a look at Banking in Taiwan for details on the documents you'll need.