Taipei: Bank SinoPac’s plans to expand its automatic deposit machine (ADM)-based remittance services have been met with a tepid response from its target demographic, migrants working in Taiwan. SinoPac — which opened its first ADM for remittances in October 2024 at the ASEAN Square shopping center in Taichung — recently announced it would install 14 more near public transportation stations, migrant workers’ dormitories, and convenience stores over the next three years.
According to Focus Taiwan, the ADMs will offer services in English, Bahasa Indonesia, Vietnamese, Thai, and Chinese, SinoPac said. However, a Filipino lawyer based in Taipei expressed uncertainty about using SinoPac’s service, citing the need to evaluate its user-friendliness. SinoPac requires users to download the Indo Money, Phil Money, Viet Money, or Thai Money app developed by Eastern Union Interactive (EUI) Corp. and get a QR code to remit money through an ADM.
The lawyer, who asked to remain anonymous, currently uses Far East Express (FEE) remittance service, which charges a handling fee of NT$99. SinoPac’s ADM remittance service currently charges NT$150 (US$4.54) per transfer. Daniel S. Nugroho, an Indonesian engineer in Tainan, mentioned his current use of EEC Elite Express for remittances, expressing unfamiliarity with SinoPac’s service and uncertainty about ADM locations near him.
SinoPac stated it was still determining specific locations for the 14 planned ADMs when asked by CNA. Yunlin County-based Indonesian artist Syaian, another EEC customer, also expressed hesitation about switching to SinoPac’s service. He highlighted EEC’s lower charges of NT$99 per remittance and cashback reward points as advantages that contribute to cost savings. Syaian also valued EEC’s physical stores across Taiwan for assistance with transaction issues.
Both Syaian and the Filipino lawyer emphasized the importance of having Bahasa or English-speaking customer service, which influences their choice of remittance service. Regarding customer service language support, SinoPac advised contacting EUI for any remittance issues. SinoPac, along with Taishin International Bank, is among two banks in Taiwan collaborating with Financial Supervisory Commission-approved companies to offer remittance services for transfers of up to NT$30,000.
These services target foreign workers from Southeast Asian countries, including Indonesia, the Philippines, Vietnam, and Thailand. Taishin’s remittance services, available since 2021, also require users to download one of EUI’s apps and obtain a QR Code, with a NT$150 fee per transfer. Taishin also noted that its customer service does not assist with remittance services.