ICFS FAQs

We have answers to questions that ICFS customers frequently ask. If you have questions that are not listed here, please contact us.

I. Opening an Account

If you are outside of the United States and need to make a deposit, conduct a wire transfer, or diversify your savings investments in US$, ICFS deposit accounts offer you safe and convenient service. There are also potential tax advantages on interest earnings for qualified individuals and businesses. (Please consult your tax advisor)

An ICFS deposit account is designed specially for foreign individuals or businesses. If you are in the US, you probably won't need this type of account. In consideration of the laws and regulations, and cost of service, Far East National Bank (FENB) has special requirements for the applicant's qualifications.

To obtain the applications forms or additional account information, you can contact our friendly staff at ICFS.

Yes, you can open a trust account. To open an account, our staff will send you all the necessary documents upon request.

No. You will only need to fill out the Written Instruction and mail it to Far East National Bank. If you have previously signed the Fax Message Indemnity Agreement, you may send the instruction to the bank via fax. Please go to Transaction Forms to obtain the required forms online. Once you complete all the required forms, you may fax it to the following number:

ICFS fax: (213) 687-2542
For Taiwan customers, fax: 02-6616-3169

II. Statement and Account Information Inquiry

Yes. There are two ways:

24-hour toll-free Chinese Telephone Inquiry System
USA: 1-800-753-8449
Taiwan: 00801103729

Online Banking: Go to Online Banking to download an application.

Interest Rate is a simple rate for calculating interest. Annual Percentage Yield (APY) is a compounded annual rate, the result of interest rolling on top of interest. For example, if the interest on a savings account is added monthly onto the principal and the interest is recalculated every month based on the new balance, then its APY will be greater than its simple interest rate. If the interest is not compounded, i.e. transferred to another account, then the APY will be equal to the simple interest rate.

The statement frequency depends on your account type. If your account is a Money Market Deposit Account (MMDA), NOW Account or Checking Account, the bank statement is sent out at the beginning of every month. If you have not received the statement for a long time, it might be lost in the mail. Please contact an ICFS service assistant. If you have a savings account, FENB will send you a quarterly bank statement via mail in the beginning of these months: January, April, July, and October.

Yes, you can obtain a copy by completing the Fax Transaction Instruction form. A fee will be charged per statement. If you just wish to know the balance or account information, please consider other methods of inquiry.

III. Using Telephone Inquiry System and Online Banking

You don't need to apply for the service. As long as your account is open and the initial deposit is processed, you may call the toll free number (Taiwan: 00801103729 / USA: 1-800-753-8449) and access your account information using a Personal Identification Number (PIN).

Authorized callers can access the Telephone Inquiry System to listen to account balance, to check itemized transaction for deposits & withdrawals, and to conduct inter-account transfers. Please click "Bank by Phone" on our website for service details and instructions for using the Telephone Inquiry System.

Under the following circumstances you might not be able to access the service:

Your first deposit has not been processed; therefore, the account is not active.
You have entered an incorrect PIN.
There are some connection difficulties, or our technicians are executing system maintenance operations. Please try again later. If you continue to encounter problems, please contact our bank during business hours.

Yes. After accessing the Telephone Inquiry System the first time with your starting PIN, you can then select the PIN change option on the menu and change your PIN according to the prompts.

The procedures to set up eBanking services are as follows:

Contact ICFS staff by mail or e-mail to request the application form.
Complete the application form and mail the original to Far East National Bank. You will need an e-mail address in order to use eBanking service.
Upon processing, the Bank will e-mail you the eBanking account number and PIN separately.

Online Banking provides the following services:

Transaction history inquiries
Account balance inquiry for the previous day.
Transfers between accounts of the same account owner.
Paying bills

IV. Time Deposit Accounts

Customers may choose to have the interest either added to the principal at maturity or transferred to another deposit account monthly or quarterly.

The maturity notice is mailed to the customer two weeks prior to the TDA maturity date. The customer has ten calendar days from the maturity day to withdraw funds from the TDA without penalty. If the funds are withdrawn or the term is changed, the interest accrued during the grace period will not be paid. After the grace period, the account will automatically renew for the same term even if the account holder takes no action. The renewal interest rate will be the prevailing interest rate posted on the maturity date of the original time deposit.

To discontinue the renewal of your TDA, the customer is required to submit a written request to FENB either in person, by mail, or by fax. Customer must provide instructions to transfer the funds to a deposit account or request a check to be sent upon maturity. (Instructions must be given prior to or during the grace period to avoid penalty.)

You may withdraw the funds with penalty. Or, you can borrow money in US currency against the funds on your TDA. (Note: The borrowing is subject to credit approval and a minimum amount may be imposed.) If you choose to withdraw the funds, a written request to FENB must be submitted in person, by mail, or by fax. Customers will need to provide instructions to transfer the funds to a deposit account or request a check to be sent.

A hold for loan collateral will be placed on your TDA. Please contact the ICFS service assistant for more details.

My account is opened with the San Francisco branch. Can I withdraw funds at the Los Angeles branch?
Yes. As long as you have an account with FENB, you may withdraw funds at any one of our branches.

V. Account transfer, wire transfer and checks

Provide the wiring bank the following information:

Account No.: Your account number
Beneficiary: Your account name
Receiving Bank: Far East National Bank
Receiving Bank (ABA#): 122034103
SWIFT CODE: FENBUS6L
Bank Address: 977 North Broadway, Los Angeles, CA 90012, U.S.A.
Bank Phone No.: 213-687-1250

To send wires, complete the "Outgoing Funds Transfer Request " and forward it to your ICFS service assistant for processing. The wiring fee is US$25.00 for domestic (within the U.S.) and US$30.00 for international wires (outside the U.S.).

The transfer limitation and the transfer fee depends on the account type. If both your accounts are either NOW or checking accounts, the transfers are unlimited at no charge. If you have a savings account, three withdrawals are allowed per calendar quarter without charge. Additional withdrawals will be charged $1.50 per withdrawal if the daily minimum balance in the account is less than $1,000. If you have a Money Market Deposit Account (MMDA), a per item fee of $10.00 will be charged for each debit transaction (withdrawal, check paid, automatic transfer or payment out of this account) in excess of six during a statement cycle.

If you are outside the U.S., you can endorse the checks and deposit them by mail to an ICFS office. If you are in the U.S., you may deposit them at any FENB branch.

If the check is made payable to you, sign your name on the back of the check and write "For Deposit Only" along with your account number. If the payee line is blank, print your name on the payee line and follow step (1).

No. If the payee is not the account owner, then the check is considered to be a "Third Party Check." The issuer of the Third Party Check has three years of recourse; therefore, FENB cannot accept this kind of check.

Write your name on the payee line on the face of the check. Endorse the back of the check and write " For Deposit Only" along with your account number.

Receiving a Deposit Receipt means the funds have been credited to your account.

Receiving a Notice of Hold on a Deposited Check means the funds are not available until the specific date indicated on the notice.

The interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).

You should request the "Direct Transfer Agreement Form" from your utility companies. You will need to provide FENB's routing number (ABA#: 122034103) on the agreement form.

Yes, simply complete the "Fax Transaction Instruction Form." The cost is $15 each.

VI. Deposit insurance

The standard FDIC insurance amount is $250,000 per depositor, per insured bank, for each account ownership category. Visit the Federal Deposit Insurance Corporation (FDIC) website for more information.