Best Bank for Transfer of NT$ to US Bank

I’m sorry in advance if this topic has been dealt with in other places.

From my reading I’m suspecting that this is much more difficult to find that I had imagined but I was wondering if it is possible to find a Taiwanese bank that would allow you to transfer Taiwanese dollars electronically, from online preferably, to my American bank account. The American bank account has said they accept Taiwanese dollars and they would do the currency exchange on their end. I was just wondering if anyone knows the best Taiwanese banks for this.

One thing is that I am paid in Taiwanese dollars and would like to pay my American credit cards from Taiwanese banks but also would like to just send the money back from time to time.

thanks in advance for the help…

The ATM posting was super helpful!

I prefer using government Banks such as Bank of Taiwan or Taiwan Cooperative Bank. Private banks are all to risky in those times.

They charge 700NT for an international transaction and it takes about 2 business days.

What on earth are you taking about?

I use a Taiwan bank, and they charge NT$300 for a T/T. They seem fairly safe to me, to be honest.

Which one?

Do you know what rates they exchange at and fees they charge? (By they, mean the American bank.) Because changing NT$ in the US can mean a loss of 30% or more of your money. It’s always best, as far as I’ve seen, to change NT$ to US$ in Taiwan.

Do you know what rates they exchange at and fees they charge? Because changing NT$ in the US can mean a loss of 30% or more of your money. It’s always best, as far as I’ve seen, to change NT$ to US$ in Taiwan.[/quote]

So you mean like…
You have 100,000nt. Exchange it at a Taiwan bank (doesn’t matter which one obviously). Get back the USD at markt rate minus the small transaction fee. THEN deposit the USD? Where? Into an HSBC-type bank?

[quote=“Staatsbankrott”]I prefer using government Banks such as Bank of Taiwan or Taiwan Cooperative Bank. Private banks are all to risky in those times.

They charge 700NT for an international transaction and it takes about 2 business days.[/quote]
700NT for a money transfer?

Fock that noise. Find another bank, homey.

HSBC allows Premier customers to transfer funds between any of their HSBC accounts in any country with zero fees. It’s instantaneous.

That said, even though I have an HSBC account in Taiwan with both UD$ and NT$ sub-accounts, I CANNOT deposit UD$ directly here in Taiwan without converting them to NT$ and then to US$ again. This problem exists for both cash and checks.

DON"T do it that way.

I do it on-line. I can transfer NT$ from one sub-account and it’s converted to UD$ in the other sub-account. Then I move the US$ to my US account. It takes less than one minute total.

[quote=“Joschka”]HSBC allows Premier customers to transfer funds between any of their HSBC accounts in any country with zero fees. It’s instantaneous.

That said, even though I have an HSBC account in Taiwan with both UD$ and NT$ sub-accounts, I CANNOT deposit UD$ directly here in Taiwan without converting them to NT$ and then to US$ again. This problem exists for both cash and checks.

DON"T do it that way.

I do it on-line. I can transfer NT$ from one sub-account and it’s converted to UD$ in the other sub-account. Then I move the US$ to my US account. It takes less than one minute total.[/quote]

But what is the exchange rate?

nevermind. It says you must keep a $100,000USD balance to be eligible for Premiere.
Yea, hokay.

[quote=“Lili”]But what is the exchange rate? nevermind. It says you must keep a $100,000USD balance to be eligible for Premiere.
Yea, hokay.[/quote]

Exchange rates change every day.

Which one?[/quote]

Union bank of Taiwan, however I would imagine that Chang Hwa, Yushan bank, Bank Sinopac, or any other bank with a foreign exchange permit could do the same, and at the same cost.

I have 2 accounts at E Sun bank. One in US$, one in NT$. I deposited US$4000 at a fee of NT$50 per thousand (I think; it wasn’t much). Then I can transfer it to my NT$ account with just the exchange rate cost (each bank earns some on what they are willing to pay for the exchange rate). You’re looking to do the opposite, which I think should be similar costs.

I haven’t used it, but xe.com has gotten some good reviews for transferring $$ between banks of different countries.