Foreign Exchange

Important Disclaimers on Foreign Exchange Investment

1. Online foreign currency transactions require foreign currency account opening and application for foreign currency transactions via Online Banking / Mobile Banking at branch counter prior to online transactions.
2. The exchange rates of currencies fluctuate; currency exchanges and foreign currency deposits may result in gains or losses. Customers are responsible for all regulation restrictions, gains and losses, and risks (including but not limited to exchange rate fluctuations, political, and country risks) regarding foreign currency exchange between TWD and non-TWD currencies and between non-TWD and Non-TWD. Losses may occur when converting foreign currencies, with the maximum loss being the entire principal plus interest amount. Clients are advised to make a prudent assessment of the risk of loss when converting the foreign currency invested into TWD or other foreign currencies.
3. When customers conduct currency conversion transactions between TWD and foreign currencies, the amount of foreign exchange settlement at the counter and through all electronic channels will be accumulated each day and the accumulated amount may not exceed TWD500,000 (included). If you wish to make FX transaction with an aggregate amount or single transaction amount of TWD$500,000 (included) more than TWD500,000 (included), please visit our branch in person and make the foreign exchange declaration in accordance with the Central Bank’s “Regulations for Reporting Foreign Exchange Receipts, Payments, and Transactions”.
4. In accordance with the ” Regulations Governing the Declaration of Foreign Exchange Receipts and Disbursements or Transactions ” of the Central Bank：
   1)The declarant shall not avoid making a declaration in a piecemeal manner, intentionally fail to make a declaration, or make an inaccurate declaration via electronic banking or other electronic channels when making a TWD foreign exchange. To prevent illegal or improper transactions, the Bank reserve the right to control or restrict abnormal transactions.2)Untruthful declarations are subject to a fine between TWD30,000 and TWD600,000, pursuant to Paragraph 1, Article 20 of Foreign Exchange Control Act.
5. All CNY foreign exchange transaction amount are accumulated across all channels for any natural person, including in branch over the counter and via automated channel. The daily limit of CNY exchange transactions for a natural person is CNY20,000.
6. The minimum transaction amount for each currency for foreign exchange transactions through the Bank’s on Online Banking / Mobile Banking can be found in the attached table：TW_FX_amountlimit_20190125_20190125.pdf (sc.com)
7. For any other matters, please refer to the relevant regulations and the Bank’s Account Opening Agreement.
8. For standing instruction or limit order services, the Bank will not be able to provide the service in the case of computer system failure, system maintenance period or force majeure incident that causes the Bank unable to provide the service. Customers who require immediate exchange of remittance can still approach other service channels of the Bank (e.g., branch counters or phone banking) for the service.
9. For standing instruction or limit order services, if the Bank is unable to execute the trade due to computer system failure or force majeure (riot, insurrection, accidental explosion, flood, storm, natural or man-made disasters, and similar events), the customer agrees that the Bank may postpone the execution of the trade to a later date after the cause of the obstruction has been removed or the Bank has resumed its business operations.
10. For limit order service, clients should note that the Bank reserves the right to accept or reject the client’s application for the service. The difference between the target exchange rate set by the clients and the market rate shall be within a certain range set by the Bank and that the Bank does not guarantee that the transaction will be executed. Clients should also note that they may not be able to apply for the service or trade successfully due to changes in market-related rules, severe fluctuations in market exchange rates, force majeure system problems or other force majeure events.