Taiwan has several banks managed by the country. One of the most widely known is the Bank of Taiwan. This bank is a commercial bank that plays many important roles. So it is not surprising that the existence of the bank is a concern by the Taiwanese government.
The Taiwanese-owned bank has several main roles and functions for its customers. It’s just that people who do not live in Taiwan may not know about the function and role. Many foreigners visit and live in Taiwan every year. So it’s quite important to get information related to this. For those who plan to open a bank account at one of Taiwan’s banks, here is information about the functions and services of the Bank of Taiwan.
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Function and Roles of Bank of Taiwan
The first thing to know about the Bank of Taiwan is what are the functions and roles of this bank in the Government of Taiwan itself. As a state-owned bank, of course, many important functions are carried out and played by the bank. Among other things, this function and role consist of the following things.
The main function of this Taiwanese-owned bank is to help provide financial services to all local Taiwanese communities in general. As with other commercial banks, this bank will provide maximum financial services to customers who open bank accounts here. Starting from providing saving account services, credit card services, and many more. See more of these types of services in the below paragraphs of this article.
The Bank of Taiwan also assists the Taiwanese government in supporting the stability of the banking economy in the country. So that the bank operates following the regulations and regulations set by the Taiwanese government. Thus the bank plays an important role in the economy of Taiwan society in general.
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Furthermore, the bank is also useful to support the Taiwanese government in providing a wide range of financial solutions. So that in this case it can support all strategic projects of the country and help the financing needs of it.
Various Services Given by Bank of Taiwan
Not only know the function and role of Taiwan’s state-owned bank. But for any foreigner who wants to open a new bank account at the Bank of Taiwan, it is necessary to know the form of its services.
So you can feel quite confident that this bank is the right choice. Because everyone can have different financial service needs. By knowing the services of this bank, it will be easy to determine the required financial service to match expectations.
Similar to many other banks, this bank also provides a deposit service for their customer. So that anyone who decides to open a bank account in this bank will have a chance to save some deposits. There are some types of deposits to choose from within this bank, including general deposits, savings deposits, or foreign exchange deposits.
The bank also provides loan services for the customers. This service includes general loans, consumer loans, and policy loans. It is recommended to discuss with the bank officer regarding the most suitable loan that you needed. Furthermore, discuss your ability to pay and the interest rate too. So that you can get the best deal if lending money from this bank.
Foreign Exchange Services
Bank of Taiwan also offered foreign exchange services. With this service, you can easily transfer or receive money abroad. Furthermore, you can invest in foreign exchange too. Therefore, it is a good decision to select this bank for expatriates or foreigners who stay in Taiwan country for a longer time.
The ATM services will allow the customer to withdraw and perform money transactions easily. As a bank operated by the government, the Bank of Taiwan provides many ATMs all across the country. Therefore, you don’t have to worry if you need to withdraw some cash anytime. Furthermore, you wouldn’t get any charge if you have a bank account in this bank.
Electronic Banking Services
To ease all your financial transactions, the bank also gives electronic banking services for the customer. So that it takes less time and effort to perform money transactions. Either sending money, making payment, or anything. This can be done easily through any gadget with electronic banking services.
Credit Card Services
Those who need a service of credit card can also be applied in this bank. Since there are several types of credit cards offered by the Bank of Taiwan. It is recommended to discuss the credit card type and limit with the bank officer. So that you can get the most suitable credit card for your needs.
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Those are some important explanations especially related to the functions and services of the Bank of Taiwan. So that the information can help provide enlightenment for foreigners who plan to stay long in the country. Managing and opening a bank account at a local Taiwanese bank is important. If you plan to choose this bank, you should recommend knowing all the services and roles of this bank before selecting it.