Note: The details presented in this review are subject to potential modifications due to the ongoing updates to the company's offerings and policy adjustments. Additionally, the relevance of this review's information may be influenced by the original publication date, as service details and policies may have evolved since that time. Hence, it's crucial for readers to seek out the most current information directly from the company prior to making any decisions or initiating actions based on this review. The responsibility for utilizing the information provided herein lies entirely with the individual reader.
Should there be any discrepancies between visual and written materials in this review, the written information takes precedence. Nonetheless, for a more comprehensive understanding and updated details, accessing the company's official website is highly recommended.
What is the Union Bank of Taiwan？
Union Bank of Taiwan is a banking institution, founded in 1989 and headquartered in Taiwan, that officially commenced operations on January 21, 1992. With a history of steady growth, the bank achieved significant milestones by listing on the Taipei Exchange in 1995 and later on the Taiwan Stock Exchange in 1998. It currently holds no regulations.
Pros & Cons
Pros:
Bilingual Official Website: The bank's website supports both English and Traditional Chinese, making it accessible to both local and international clients.
Live Chat Available: Customers can get instant help and answers to their inquiries through the live chat service provided on the bank's website.
Supports Various Mobile Payment Methods: The bank embraces modern technology by supporting various mobile payment methods, including Apple Pay, Google Pay, and Samsung Pay.
Cons:
Is Union Bank of Taiwan Legit or a Scam？
Regulatory Sight: The Union Bank of Taiwan is currently without regulatory oversight and any licenses that would enable it to conduct its operational standards in the financial market. This lack of regulation poses numerous risks to investors, such as a lack of transparency, security concerns, and no guarantee of adherence to industry standards and practices.
User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.
Security Measures: So far we haven't found any information about the security measures for this broker.
Products & Services
Union Bank of Taiwan offers its products and services to both individual customers and corporate clients. These include:
Deposits: The bank offers various deposit products including savings accounts, checking accounts, and time deposits.
Loans: Union Bank of Taiwan provides multiple loan options catering to different needs. This includes personal loans, home mortgages, corporate financing solutions, etc.
Forex Trading: The bank facilitates foreign exchange trading services, which allow customers to trade currencies and benefit from currency conversion services.
Stocks Trading: Through its brokerage services, Union Bank of Taiwan offers stock trading options. Users can buy and sell shares in publicly traded companies, leveraging market movements to increase wealth.
Wealth Management: The bank also offers wealth management services, which include financial planning, investment management, and advisory services.
Fees
Union Bank of Taiwan charges handling fees for regular fixed-amount stock transactions. For transactions where the investment amount is less than or equal to 20,000 yuan, a flat handling fee of 1 yuan is charged. For transactions exceeding 20,000 yuan, the handling fee receives a 22% discount off the standard rate determined by the exchange.
When executing regular fixed-amount stock transactions, the handling fee is initially deducted according to the fee structure announced by the stock exchange. For example, if a fixed transaction amount is 15,000 yuan, a handling fee of 21 yuan might be charged at first, but 20 yuan will be refunded the following month.
Customer Support
Contact Form: For those who prefer written communication or need to submit specific requests or queries, Union Bank of Taiwan provides a contact form on its official website. Users can access it via the link: https://www.ubot.com.tw/customerservice
Live Chat: Union Bank of Taiwan provides live chat for real-time support. Customers can engage in a text-based conversation with a customer service representative.
Telephone Support: Union Bank of Taiwan has established a dedicated phone line for customer support at (02) 2545-1788. Users need to press 19 after entering the line to talk to their support team.
Social Media: Union Bank of Taiwan maintains an active presence on platforms like Facebook and Line.
Physical Location: For customers who prefer face-to-face interaction or have complex issues that are best addressed in person, Union Bank of Taiwan's headquarters is located at No. 109, Sec. 3, Minsheng East Road, Songshan District, Taipei City 105, Taiwan.
Conclusion
As a bank, Union Bank of Taiwan has a relatively long history and provides its services to both individuals and corporations. It charges handling fees. It currently has no regulations, so we do not recommend it to any user.
Frequently Asked Questions (FAQs)
Question: Are there any extra fees charged？
Answer: Yes. The Union Bank of Taiwan charges a handling fee.
Question: Is the Union Bank of Taiwan regulated or not？
Answer: No, it is not regulated.
Question: Does it support mobile payments？
Answer: Yes. The Union Bank of Taiwan supports mobile payments such as Apple Pay, Google Pay, and Samsung Pay.
Question: Is my money safe with the Union Bank of Taiwan？
Answer: Not quite, since currently it has no regulations and other security protocols applied.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
