Where is the most cost-effective way to exchange New Taiwan Dollars or Renminbi for New Taiwan Dollars?

When traveling to Taiwan, you may not be able to use RMB, and of course you cannot use Alipay, WeChat or the like. Therefore, when you plan to travel to Taiwan, you must exchange Taiwan dollars. After all, some places don’t even accept bank cards. First, let’s talk about where is the best place to exchange foreign currency in Taiwan?

Is it better to exchange Taiwan dollars in China or in Taiwan?

It is more cost-effective to exchange Taiwan dollars in Taiwan. In fact, it is most cost-effective to use UnionPay cards to spend money directly in Taiwan. A few days late, the exchange rate for UnionPay cards is around 1:4.5, but cards cannot be used in some places, so remember to exchange cash.

What is the most convenient way to exchange Taiwan dollars in Taiwan?

A convenient way to exchange Taiwan dollars in Taiwan is to withdraw cash directly from an ATM. It is best to use an offline bank card, because Hua Xia Bank Card does not charge for the first cash withdrawal every day, and other banks do not charge much. Please contact your bank for details. After all, nail salons are different. It should be noted that mainland China’s UnionPay cards can be used for direct consumption in Taiwan. When shopping, as long as it is a mainland credit card, the salesperson will usually calculate the price in RMB for you and tell you it will be cheaper. Therefore, it is best to exchange Taiwan dollars within Taiwan, or use a Hua Xia Bank card, so that there is no handling fee for the first payment every day.

Is it more cost-effective to exchange US dollars for Taiwan dollars than RMB?

If you happen to have US dollars, it is more cost-effective to go to a bank in Taiwan to exchange US dollars for Taiwan dollars than RMB. However, if you want to convert RMB into US dollars first and then into Taiwan dollars, it is completely different. Because of the difference between buying and selling, it is definitely not cost-effective. Moreover, all banks in Taiwan, including exchange offices, have restrictions on the old version of US dollars. In the old version, you have to pay a certain percentage of handling fees when converting US dollars to Taiwan dollars.

The above is the strategy for Taiwan dollar exchange.

Have you decided whether to exchange foreign currency? Where would be a better deal?