When traveling to Taiwan, where to exchange New Taiwan Dollars and what’s the most cost-effective way?

It is most cost-effective to exchange New Taiwan Dollars at a large local bank.

Currently, there are 41 banks (***2825 branches) and 140 foreign currency exchange institutions that can exchange RMB for New Taiwan dollars, such as: Bank of Taiwan, Cooperative Treasury Commercial Bank, Taiwan Land Bank, China Trust Commercial Bank, Yuanta Commercial Bank, Cathay Pacific Commercial Bank, Mega International Commercial Bank, Taiwan Small and Medium Enterprise Bank, Changhua Commercial Bank, Shanghai Commercial Savings Bank, First Commercial Bank, Taipei Fubon Commercial Bank, South China Commercial Bank, Kinmen County Credit Union and more.

There is no handling fee for money exchange at these banks, but mainland tourists must present relevant identity documents, such as entry and exit permits (Taiwan Entry Permit), or dependent residence permits, or long-term residence permits before they can exchange money. , please have your documents ready when exchanging money at the bank. Some banks will also require you to show your Chase ID card or passport (Taiwan often requires dual documents).

Be sure not to exchange money at the airport or shopping mall. Those general exchange rates are not cost-effective, and airport exchanges require handling fees.

If you have a Hua Xia Bank card, you can also withdraw money at an ATM.

The latest requirements from the State Administration of Foreign Exchange: Cash withdrawals abroad using UnionPay RMB cards in China