Where to Exchange Currency in Taiwan as a Tourist

As a tourist in Taiwan, you'll likely need to exchange some currency at some point. Banks are a common place to exchange currency, and in Taiwan, you can find them in most major cities.

Taipei 101 is a great example of a popular area to find a bank, with several international banks having branches nearby.

You can also exchange currency at a currency exchange office, which is often located near train stations. Taoyuan International Airport is a great example of a place to find a currency exchange office, with several options available for arriving tourists.

In addition to banks and currency exchange offices, you can also exchange currency at some hotels and tourist information centers.

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Taiwan has a well-developed banking system, making it easy to exchange currency. You can exchange money at banks, which are usually open from 9:00 a.m. to 3:30 p.m. Monday to Friday.

Banks are a good option because they offer standardized exchange charges and official rates, making it easy to compare prices. However, be aware that banks may charge a flat NT$30.00 service fee for exchanging currency.

If you're looking for a more convenient option, you can also exchange currency at 7-Eleven stores, which are open 24/7. Just be aware that some ATMs may carry a surcharge, so it's a good idea to check with your credit card company beforehand.

Here are some specific locations where you can exchange currency in Taipei City:

Credit cards are useful in major hotels and upscale restaurants, and for buying train tickets, but not always accepted in homestays and almost never by taxi drivers.

Most Taiwanese citizens have credit cards, but they tend to use them sparingly, except in department stores. Cards issued by foreign banks are often accepted, but don't rely on being able to make withdrawals from your account at home.

If you need to make a withdrawal, most ATMs give the option of Chinese or English instructions, but be aware that the limits for foreign currency are NT$60,000 in Taiwanese money, US$10,000 in cash, or the equivalent in travellers' cheques or other foreign currencies.

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Using Traveler's Cheques can be a bit of a hassle in Taiwan. Only the biggest banks will exchange them.

You might be surprised to learn that credit cards and ATM cards are now much more convenient and widely accepted. In fact, carrying traveler's cheques around offers little advantage these days.

Some of the biggest Taiwanese banks that will exchange traveler's cheques are CitiBank, HSBC, Bank of Taiwan, and International Commercial Bank of China (ICBC).

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In Taiwan, you'll find that major cities like Taipei accept foreign bank cards more easily, particularly in hotels, department stores, and upscale restaurants and bars.

Mastercard and Visa are more popular in Taiwan than American Express, but you can still use Amex in some places or at ATMs.

Alternatives to cash are growing in Taiwan, with bank cards accepted in tourist hotspots and big cities, but it's still essential to have some cash on hand as a backup.

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You'll find ATMs at the airport, convenience stores, and on major streets in Taiwan, where you can withdraw local New Taiwan Dollars using international credit cards like Visa and Mastercard.

Don't forget to inform your bank of your travel plans before leaving home, or they might freeze your card due to suspicious activity.

Taiwan's economy is largely based on cash transactions, so visitors should carry a decent amount of paper currency, especially outside of major cities.

Almost every business can provide change if you pay with a NT$1,000 note, so there's no need to hoard coins or NT$100 notes.

You can change money at the airport, where banks keep long hours for international travelers, and the rates are as good as those in city-centre banks.

Banks in Taiwan are open Monday to Friday only, so make sure to have enough cash for weekends and national holidays.

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