Fair Dealing Policy
Based on the Principle for Financial Service Industries to Treat Clients Fairly by Financial Supervisory Commission in Taiwan and Guidelines on Fair Dealing by the Monetary Authority of Singapore ("MAS"), Fair Dealing is an important part of the banking culture at E.SUN Bank Singapore Branch. We look to achieve the following significant outcomes:
- Establish a culture of fair dealing that is central to our corporate culture
- Offer our customers with suitable products and services
- Ensure we have competent staff who can provide our customers with appropriate, high-quality advice and recommendations
- Provide our customers with clear, relevant and timely information for financial decision-making
- Ensure customer complaints are handled independently and efficiently
Personal Data Protection Act (PDPA)
Based on the Personal Data Protection Act of Taiwan and the Singapore Personal Data Protection Act 2012, we will uphold your trust in us by protecting and using your personal data in a responsible manner.
For more details regarding the purposes and scope that E.SUN uses your personal data, please refer to Mandatory Disclosure Regarding Use of Personal Data by E.SUN Bank on E.SUN Bank's official website.
We may amend our policy and disclosures from time to time to ensure consistency with any developments to the way E.SUN uses your data and make the updated policy and disclosures available on our website.
FATCA
Introduced by the Internal Revenue Service ("IRS"), Foreign Account Tax Compliance Act ("FATCA") prevents US taxpayers who hold financial assets in non-US financial institutions and offshore accounts from avoiding taxation on their income and assets.
Financial institutions in Singapore are to carry out reviewing procedures and disclose financial account information of account holders who are US Persons to the Inland Revenue Authority of Singapore ("IRAS") under FATCA.
Customers may refer to the FATCA Fact Sheet issued by the Association of Banks in Singapore ("ABS") for more information on FATCA.
CRS
The Common Reporting Standard ("CRS") is a set of rules on information gathering and reporting. The aim of CRS is to facilitate the automatic exchange of information ("AEOI") between Singapore and other countries on holders of financial accounts, with the aim of identifying and counteracting global tax evasion.
Under the CRS, we are required to determine where you are 'tax resident' (this will usually be where you are liable to pay income taxes). If you are a tax resident outside the country where your account is held, we may need to give the Inland Revenue of Singapore ("IRAS") this information along with information relating to your accounts. That may then be shared between different countries’ tax authorities.
For further information on CRS and AEOI, please refer to the CRS page on the IRAS website.
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