Deposit Services
Demand Deposits
You can also take money out of your passbook account when you are overseas! Once your application for the International Gold Card is approved, then when you are overseas you can take out local currency from any ATM bearing the CIRRUS logo!
Normal Deposits
- Demand Deposits (including brokerage accounts)
- Savings Deposits (including brokerage accounts and salary transfer accounts)
- Savings Deposits for Government Employees and Teachers
- Combined Savings (including Demand Deposit accounts, Savings Deposit accounts, and Time Deposit accounts).
Combined Savings
- Giving you the financial flexibility of Demand Deposits, Time Deposits, Overdraft, and Payment and Collection Agency, all in the one, multi-faceted account.
- Automatic transfer into Time Deposit: you decide the minimum amount in your Demand Deposit account above which we will automatically sweep funds (in units of NT$10,000) into a Time Deposit.
Account opening restrictions
- Individuals, corporate entities and organizations can all apply to open Demand Deposit accounts.
- Individuals and non-profit organizations may apply for Savings accounts.
- Government employees (not including employees in the public service) and teachers can apply to open Savings Accounts for Government Employees and Teachers.
Other requirements
- Apply for an International Finance card to be able to take out money in local currency from bearing the CIRRUS logo ATMs overseas.
- In order to transfer funds you may at any time avail yourselves of the Bank’s telephone banking, mobile banking, internet banking and corporate banking (add value network) electronic financial services.
- By applying for “Network Receipts and Payments,” the Financial Card or Corporate Financial Card, you can deposit, withdraw cash or make transfers at any of the Bank’s ATMs or branches throughout Taiwan.
- You may apply for automatic debits to pay water, electric, telephone, insurance, gas, tax and national health insurance bills, as well as Bank loan repayments (principal and interest).
- Interest is calculated twice yearly on June 20th and December 20th, and transferred to your account on the next business day.
- Those clients whose closing account balance on any day does not reach the minimum for interest calculation, will not have interest calculated for that day. The minimum interest calculation requirements are NT$10,000 for Demand Deposits and Savings Depoesits.
- The Bank will charge fees according to the Bank’s standard fees and charges for transacting all services (such as reporting a lost or stolen chop, chop replacements, passbook issuance, cancellation and re-issuance of Certificates of Deposit, derivative deposits), and the Bank will adjust such fees and charges according to its requirements.
Check Deposits
Your most convenient payment method.
Negotiable Instrument
- Check
- Promissory note bearing specified bank as paying agent
Applicable for
- Individuals
- Corporate entities
- Government organs
- Schools and Colleges
- National corporation and other organizations
Other Requirements
- The Bank’s checking accounts do not accrue interest. In principle, account opening deposits must be no less than NT$10,000.
- Depositors with a good record with the Bank may, when necessary, apply for an “Overdraft” or “Guaranteed Overdraft”, and may use the overdraft within agreed limits.
- In order to transfer funds you may at any time avail yourselves of the Bank’s telephone banking, mobile banking, internet banking and corporate banking (add value network) electronic financial services.
- You may have your own name or your company’s name and logo printed on your checks for making them more personal and secure (there is a charge debited to the user for this service).
- Those accounts for which the closing balance does not reach at least NT$1,000, and there has been no account movement for the past three years, will at the annual book-closing be transferred into dormant accounts, though the account holder may request such an account to be reinstated at any time. The Bank furthermore reserves the right to adjust its criteria for dormant accounts.
Certificates of Deposit
With many maturities for you to choose from！
Types of Deposit
- Time Deposit
- Installment deposits and lump sum payment
- Lump sum deposit and installment payment
- Lump sum deposit and lump sum payment
- Special lump sum deposit and lump sum payment
- Deposit where the principal remains in the account and only interest is withdrawn (“Interest-only Withdrawal Deposit”)
- Deposit with fixed maturity date
- NTD Time Deposit convertible into other currencies
Account opening restrictions
- Individuals, corporate entities and organizations may all set up Time Deposits
- Individuals and non-profit juristic person may set up Time Savings Deposits
Deposit period
- The minimum period for a time deposit is one month, which then either increases in periods of whole months or has a fixed maturity date. In the latter case, interest will only be paid to the nearest entire month.
- The minimum period for a Time Savings Deposit is one year.
Initial deposit amounts
- Over NT$1,000 initial deposit for the Time Deposit, Lump sum deposit and installment payment, Special lump sum deposit and lump sum payment, and Interest-only Withdrawal Deposit.
- Over NT$1,000 initial deposit for Lump sum deposit and installment payment.
- Over NT$100 initial deposit for Installment deposits and lump sum payment.
Deposits with fixed maturities
- Includes Time Deposits, Lump sum deposit and lump sum payment, and Interest-only Withdrawal Deposit.
- You may choose from one month or above for Time Deposit, and above one year for Lump sum deposit and lump sum payment, and Interest-only Withdrawal Deposit.
Combined Deposits
- Includes Time Deposit, Lump sum deposit and lump sum payment, Lump sum deposit and installment payment, and Interest-only Withdrawal Deposit.
- The Combined Deposit has many aspects of a Time Deposit.
- Each month you may take out interest or principle and automatically transfer it into the Savings Deposit (sub-) account.
Other regulations
- You can arrange for automatic transfers to Time Deposit and automatic transfer of Interest into the Savings account.
- Based on your proof of deposit you may at any time apply for a loan, a pledge, or our guarantee services (excluding Lump sum deposit and installment payment).
- We can arrange fund transfers to coincide with the maturity date per your request.
- The Bank must be informed seven days in advance of any redemption prior to contract maturity. The Bank’s prior approval must be obtained in cases where the bank is not given seven days’ notice. Interest will be calculated based on the regulations for breaking deposits prior to maturity, including a 20% reduction in interest paid out.
- When a Time Deposit is withdrawn after the maturity date, then interest for the additional period is calculated according to the Bank’s Demand Deposit rate as published on the day of withdrawal. But in cases where the Demand Deposit rate has been adjusted between the dates of maturity and withdrawal, then interest is calculated according to the rates during the various stages.
- When a Time Savings Deposit is past the maturity date, it continues on for a further period or is converted into a Time Deposit of over one year. Those whose maturity date fell within the previous two months must take out interest calculated up to the original maturity date, and the new deposit rate is set according to the Bank’s published rate when the funds are transferred into the new deposit.
- When a Time Savings Deposit is past maturity and is converted into a Time Deposit of less than one year, those clients whose deposit was only within one month past calculate interest from the original maturity date, and the new deposit rate is set according to the Bank’s published rate when the funds are transferred into the new deposit.
- When a Time Deposit is extended within one month after its maturity date, interest is calculated from the original maturity date.
- When payment has not been received on Installment deposits and lump sum payment accounts for six months or more from when due, and which are then transferred into dormant accounts, the clients may no longer continue to make deposits.
Negotiable Certificates of Deposit (CD's)
The most suitable outlet for shorter-term funds.
Methods of issuance
- Deposit period ranges from a minimum one month to a maximum one year.
- Denominations are NT$100,000; 500,000; 1,000,000; 5,000,000; 10,000,000; 50,000,000; and 100,000,000.
Other regulations
- Interest income is subject to a withholding of income tax (current tax rate is 20%) and will be exempted from consolidate income tax. For clients with over NT$270,000 in annual interest income, CD’s therefore represent the best tax saving.
- Withdrawal is not permitted before maturity, but CD’s can be endorsed or traded in the money market.
- They can be issued in name or bearer form, and interest is paid once at maturity.
- If a CD is not redeemed at maturity, unless the maturity date fell on a non-business day, then interest is not to be calculated for the additional days.
Agency Business
- Receipts over the counter: all kinds of taxes, public service charges, health insurance fees, national pension payments, Central Trust pension reserve, trade promotion service fee, harbor service fee.
- Agency payments by means of account transfer:
- All kinds of taxes: Consociated income tax and various local taxes.
- Public service charges.
- National Health and pension payments.
- Government bond agency
- Settlement of share payments for brokerages
- Sale of gold and silver coins (bullion)
- Issuance of dividends and payments to the aged
- Salary issuance
- Accepting school payments
- Accepting share payments
- Payment via account transfer for wine and tobacco , commodity, financial institution’ credit card payments, insurance premiums, payments for mutual fund purchase, cable TV payments and other agency services.
- Acting for clients (companies or organizations) so as to promulgate among the media the receipts/business via automatic bank transfer.
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