【Taiwan Immigrants' Global News Network】Translated by CHI CHIA I
Financial Supervisory Commission (FSC) recently announced that immigrants and foreign spouses can open digital deposit accounts for their minor children who have reached the age of 7.
At present, eight banks in Taiwan have started these services, including Yuanta Commercial Bank Co., Ltd. (元大商業銀行), Cathay United Bank (國泰世華商業銀行), First Commercial Bank (第一商業銀行), Hua Nan Commercial Bank, Ltd. (華南銀行), CTBC Bank (中國信託商業銀行), Mega International Commercial Bank (兆豐國際商業銀行), Chang Hwa Bank (彰化銀行), and Taishin International Bank (台新國際商業銀行).
Immigrants and foreign spouses can open digital deposit accounts for their minor children who have reached the age of 7. (Photo / Provided by FSC)
The FSC pointed out that the number of immigrants in Taiwan has reached nearly 570,000, and the minor children of the immigrants have an increasing demand for digital financial services.
Based on the principle of financial inclusion, and to enable the minor children of immigrants to develop correct financial management concepts through digital deposit accounts, The Bankers Association of The Republic of China is requested to study and revise the digital deposit model, the types of identification documents of legal representatives retained by banks, and add a new chip issued by the Immigration Department of the Ministry of the Interior to the ROC (Taiwan) Resident Certificate.
Children will be able to learn financial management through owning digital bank accounts. (Photo / Retrieved from Pixabay)
Therefore, immigrants can open a digital deposit account for their minor children above 7 years old through the ROC (Taiwan) Resident Certificate and identity verification.