Taiwan Depository & Clearing Corporation

The Financial Supervisory Commission (FSC) approved online account opening with mutual fund dealers in May 2016, making it much easier for fund investors to open a new account. However, investors still have to manually fill in an authorization form to link their investment account with a designated bank account if they wish to pay for their investments via bank transfer. The authorization takes about 7-10 days to process. To shorten the waiting time, TDCC is working with the Financial Information Service Co. (FISC) on launching a new online authorization option for bank transfer. In the future, investors may complete the authorization via TDCC’s online platform with their IC bank card. The “One Card Access” service will allow investors to start mutual fund subscription much faster, reducing the document processing costs and waiting time for mutual fund dealers, investors and banks.

TDCC Chairman, Mr. Sherman Lin, extended his special thanks to the FSC, FISC, Securities Investment Trust & Consulting Association, Bankers Association as well as all the participant financial institutions for their unreserved support for the innovative service. At the initial stage, investors may complete the authorization online with a bank card issued by Hua Nan Bank, Mega Bank, Cathay United Bank, First Bank, Chang Hwa Bank, Taiwan Business Bank, Yuanta Bank, Bank of Panshin, Sunny Bank and Hualien 2nd Credit Cooperative. Many other financial institutions are developing their processing systems, and may soon make the service available to their customers, expanding the total user base.

Fund Rich Securities, a joint venture of TDCC and several securities investment trust/ advisory companies, will also provide the One Card Access service soon, allowing customers to authorize their fund subscription payments online for better user experience.