Before you start

An ARC (Alien Resident Certificate) or Employment Gold Card — this is the gate to a full account; without it you are limited to a basic post-bank account that is often refused
A Taiwanese mobile number in your own name — required for SMS OTP, app activation and two-factor approval; get a SIM before you go to the branch
A second photo ID besides the ARC — passport, NHI (health insurance) card, or local driver's license; banks require two IDs
A local residential address (lease or where you live) — banks will not accept a hotel or a PO box as your registered address
ARC valid for at least ~1 month beyond the application date (Richart and several banks enforce a minimum remaining validity)

Step-by-step

1
Line up the ARC, phone number and a chop first
Sequence matters: your ARC gates the account, and your Taiwanese SIM gates activation. Get both before you visit a branch. Many banks still want a personal seal (chop / 印章) rather than only a signature — have one carved at a stationery shop for about NT$100; a signature is increasingly accepted but a chop avoids being turned away by a traditional branch. If your passport name and ARC name don't match exactly (middle names, romanization), reconcile them first — mismatches cause same-day rejections.
In personWho: You (immigration for the ARC, a telecom carrier for the SIM, a stamp shop for the chop)ARC ~1-2 weeks if not already held; SIM and chop same dayChop ~NT$100; SIM/phone plan separate
2
Pick a foreigner-friendly bank (or go fully digital with Richart)
For walk-in branches, the names expats and Gold Card holders rate highest are E.SUN, CTBC (best English app, 6,000+ ATMs), Cathay United, and Fubon; HSBC and Mega are also common, and state banks (Bank of Taiwan, Mega) are most familiar with the Gold Card. If you'd rather skip the branch, Taishin's Richart is Taiwan's leading digital bank and lets ARC holders open fully online in English in minutes — its 'Foreigners' interface is English-only and the app is the smoothest for non-Chinese speakers. Choose a branch near home/work; you'll return there for anything complex.
Mobile appWho: YouSame day to decideFree
3
Open the account in person (or in-app for Richart) and fund it
At a commercial bank you must appear at a branch in person; the clerk verifies your two IDs, applies your chop or signature, runs FATCA/CRS self-certification, and opens an NT$ account (usually with foreign-currency sub-accounts). Initial deposit is typically around NT$1,000 (around NT$100 at Chunghwa Post). Expect it to eat half a day at busier branches. Richart instead verifies your ARC + second ID inside the app and opens in roughly 5 minutes, no branch visit. Americans complete a W-9 (SSN required); non-US nationals self-certify on a W-8/CRS form.
In personWho: You (Richart: in-app)Same day at a branch (allow up to half a day); ~5 min for Richart~NT$1,000 initial deposit at commercial banks; ~NT$100 at Chunghwa Post
4
Activate online banking, get your debit/ATM card, then wire it into daily life
Set up internet/mobile banking and collect your debit/ATM card (often issued on the spot or mailed within days). Use the account number for direct-debit of utilities and rent and hand it to HR for payroll; your salary, NHI and income-tax refunds all flow through it. Watch the small fees: domestic inter-bank transfers run roughly NT$10-15, and ATM withdrawals at another bank's machine about NT$5-6 — trivial but constant, so prefer your own bank's network and the app for transfers.
OnlineWho: You (payroll handled with your employer/HR)Same day to a few days for the cardCard free; inter-bank transfer ~NT$10-15; off-network ATM ~NT$5-6

Documents you’ll need

ARC (Alien Resident Certificate) or Employment Gold Card — primary ID
A second ID: passport, NHI (health insurance) card, or local driver's license
Personal seal (chop / 印章) — many branches still require one; ~NT$100 (a signature is sometimes accepted)
Taiwanese mobile phone number in your own name
Local residential address (lease or proof of where you live) — not a hotel/PO box
Initial cash deposit (~NT$1,000 commercial / ~NT$100 post bank)
Americans: W-9 with SSN (FATCA); other nationals: W-8/CRS self-certification

Things most newcomers don’t know

Taishin's Richart is the rare bank an ARC holder can open fully online, in English, in about five minutes — its 'Foreigners' interface is English-only by design.

It skips the half-day branch queue and the language barrier that defeats newcomers at traditional counters, and pairs well with a higher savings rate — ideal as a first or backup account.

Source: Taishin Richart (provider)

Without an ARC you're largely stuck: passport-only 'non-resident' opening is effectively suspended at most banks, leaving only a basic Chunghwa Post account on a 'Record of ID No.', which is bare-bones and often declined.

Visitors and pre-ARC arrivals routinely get turned away; the practical move is to wait until the ARC is in hand rather than branch-hopping on a passport.

Source: Talent Taiwan (NDC)

Bring a chop and a Taiwanese SIM before you go — and make sure your passport and ARC names match exactly.

A traditional branch may refuse a signature-only opening without a seal, no account activates without a local number for OTP, and any name mismatch (middle name, romanization) triggers a same-day rejection.

Source: community-reported

Common mistakes to avoid

Showing up without an ARC and expecting a normal account — passport-only opening is mostly suspended; you'll be sent to Chunghwa Post for a limited account or turned away
Arriving without a Taiwanese phone number — the account can't be activated and app/2FA won't work
Assuming a signature is enough — many branches still want a personal chop (印章); not having one can stall the opening
Passport vs ARC name mismatch (middle names, romanization) — a frequent cause of same-day rejection
Americans forgetting FATCA — you must complete a W-9 and provide your SSN; non-US nationals must self-certify (W-8/CRS) or the account is held up