
So you're planning a trip to Taiwan and wondering about currency exchange at the airport. You can exchange your money for Taiwanese dollars (TWD) at the Taiwan Taoyuan International Airport, which is one of the major international airports in Taiwan.
You'll find currency exchange counters at the airport, usually located in the arrivals or departures areas. The Taiwan Taoyuan International Airport has multiple currency exchange counters, including ones run by banks and private exchange services.
The exchange rates at the airport may not be the best, but it's convenient for international travelers who need cash immediately. Some currency exchange counters at the airport may also offer additional services like traveler's checks or prepaid currency cards.
If you're looking for a better exchange rate, you can consider exchanging your money at a bank or a currency exchange service in the city, but keep in mind that you may need to take a taxi or public transportation to get there.
Currency Exchange Options
You can exchange your home currency for Taiwan Dollars at airports, banks, shopping malls, or hotels. Banks are usually open from 9:00 a.m. to 3:30 p.m. Monday to Friday.
Standardised exchange charges and official rates are used almost everywhere, so there's little reason to shop around. Banks often provide marginally better deals than hotels.
You'll need to pay a flat NT$30.00 service fee at banks, which is very reasonable. Expect to pay a commission of 0.5% to 2% per transaction at banks.
Authorised currency exchange centres can be found in touristy spots in Taipei and a few in smaller towns. You can also find them at airports, but be aware that the exchange rates are not great.
It's best to avoid purchasing Taiwan Dollars in your home country, as it's not widely used globally. If you do exchange currency at home, the exchange rate will not be favourable.
You can use your credit or debit card to withdraw Taiwan Dollars from ATMs, but choose ones located within bank branches instead of standalone machines. These devices are typically more secure and less vulnerable to skimming.
Using ATMs
You'll find ATMs at the airport, convenience stores, and on every major street in Taiwan, making it easy to get local currency. Just head to your nearest ATM and make your cash withdrawals in local New Taiwan Dollars using international credit cards like Visa and Mastercard.
Don't forget to inform your bank of your travel plans before you leave home, or they might freeze your card due to suspicious activity.
ATMs in Taiwan offer two language options - Mandarin and English, which you can use to exchange your currency. You can also use these languages to navigate the ATM itself.
You can use Google Translate's camera function to translate the options on your phone in real time, but keep in mind that the translations might not always be completely accurate. Take your time and avoid rushing through the transaction.
There are many fee-free ATMs in Taiwan, and some bank ATMs don't charge ATM fees at all. You can easily find these options, so don't worry about getting hit with extra charges.
Choose ATMs located within bank branches instead of standalone machines, as they're typically more secure and less vulnerable to skimming. Crime rates near ATMs are low, but it's still a good idea to exercise caution.
Managing Your Money
Taiwan's currency exchange fees at airports can be steep, with some banks charging up to 10% more than the wholesale rate.
It's essential to have some local currency, the New Taiwan Dollar (TWD), for when you arrive at the airport. The Taiwan Taoyuan International Airport, for example, has a currency exchange counter that offers a reasonable exchange rate.
You can also withdraw TWD from ATMs using your debit or credit card, but be aware that you'll be charged a withdrawal fee, which can range from 200 to 500 TWD.
Airport Banks
If you're in need of banking services while traveling through Taiwan Taoyuan Airport, you're in luck - the Bank of Taiwan Branch has multiple locations throughout the airport.
You can find the Bank of Taiwan Branch at Terminal 1, with locations on the basement level, first floor, and third floor.
One of the locations is on the basement level 1, with a contact number of +886-3-0982166 #116. Another is on the third floor, located in the departures area, with a contact number of +886-3-3982623.
In addition to these locations, you can also find the bank on the second floor of Terminal 1, in the arrivals area, with a contact number of +886-3-3983507.
Here are the locations of the Bank of Taiwan Branch at Terminal 1:
The bank also has other locations in Terminal 1, including the basement level 2, first floor, and third floor.
Accessing My Travel Fund
Accessing your travel fund can be a breeze in Taiwan, especially with ATMs available everywhere except in remote mountain villages.
Most ATMs in Taiwan accept international systems like Cirrus, Star, Interlink, Plus, and Accel, making it easy to withdraw cash.
You can find ATMs in most Taiwanese banks, convenient stores, department stores, and post offices.
Very few banks in Taiwan will let you take a cash advance at the counter if you don’t have your PIN, so be sure to have it handy.
ATMs are by far the safest and most convenient method of obtaining your money in Taiwan.
Local Currency and Safety
Getting local currency in Taiwan is relatively straightforward, with three primary methods: ATMs, currency exchange, and money transfer services.
It's best to avoid purchasing Taiwan Dollars in your home country, as it's not widely used globally and the exchange rate may not be favourable.
You can obtain cash through ATMs, which are generally safe, especially those located within bank branches. These devices are typically more secure and less vulnerable to skimming.
Crime rates near ATMs are low, but it's still a good idea to exercise caution when using them, especially when using public Wi-Fi networks for online banking or credit card transactions. Consider using a Virtual Private Network (VPN) for enhanced security.
Take at least two cards with you when travelling to Taiwan, as having a backup option can be helpful in case one card encounters an issue.
Local Currency
You can obtain cash in Taiwan through three primary methods: ATMs, currency exchange, and money transfer services.
It's best to use ATMs, as they are widely available and offer competitive exchange rates.
Banks are also a reliable option, with branches open from 9:00 a.m. to 3:30 p.m. Monday to Friday in Taipei cities.
Be cautious when exchanging currency at airports, as the rates are poor.
It's also a good idea to bring new notes, as damaged or dirty notes will get you lesser rates or higher fees.
If you're not from South East or East Asia, it's best to avoid purchasing Taiwan Dollars in your home country, as it's not widely used globally.
You can use authorised currency exchange centres, banks, and hotels to exchange money in Taiwan.
Choose ATMs located within bank branches instead of standalone machines, as they are typically more secure and less vulnerable to skimming.
Take at least two cards with you when travelling, as having a backup option is helpful in case one card encounters an issue.
Only use authorised and registered exchange places for currency exchanges, and exercise caution when using public Wi-Fi networks for online banking or credit card transactions.
Currency Exchange and ATM Safety
Currency exchange and ATMs in Taiwan are generally safe, but it's still essential to take some precautions.
Numerous ATMs are equipped with surveillance cameras and security personnel, and crime rates near ATMs are low.
Choose ATMs located within bank branches instead of standalone machines, as these are typically more secure.
Make sure to regularly monitor your credit card transactions using your bank's mobile app or online banking platform.
Report any transactions you didn't authorise as soon as possible.
Exercise caution when using public Wi-Fi networks for online banking or credit card transactions, and consider using a Virtual Private Network (VPN) for enhanced security.
Keep an eye on your credit card at all times during transactions, and make sure to always keep your card in sight when giving it to merchants.
It's a good idea to take at least two cards with you when travelling, as having a backup option is helpful in case one card encounters an issue.
Only use authorised and registered exchange places for currency exchanges.
Don't forget to inform your bank of your travel plans before you leave home, as this will prevent your card from being frozen due to suspicious activity.
You'll find ATMs at the airport, convenience stores, and on every major street in Taiwan, making it easy to access local currency.
Frequently Asked Questions
Should I exchange money before I travel to Taiwan?
It's a good idea to exchange some money before traveling to Taiwan, but you can also exchange USD at your destination for a potentially better rate.
Sources
- https://blog.myroomabroad.com/first-day-in-taiwan/
- https://www.smoney.com.au/blog/currency-in-taiwan/
- https://www.taiwanese-secrets.com/taiwan-currency/
- https://www.ifly.com/airports/taipei-chiang-kai-shek-international-airport/ATM-banks-currency
- https://atmfeesaver.com/cash-currency-exchange-atms-in-taiwan/
Featured Images: pexels.com