Hello all I’m moving to Taiwan, Kaohsiung specifically, in a few days and it didn’t hit me until just now that I have to exchange currency. Note: I’ve only travelled internationally twice.
Would it be best to exchange money (USD) before I leave the US or should I wait until after I arrive to Taiwan? I read the rates are generally better in Taiwan. My plan was to exchange just enough here to pay for quarantine hotel and taxi fare (plus maybe some pocket money) and then exchange the rest at a bank in Taiwan. Would that really make a difference? Looking at the banks here, I’d be losing quite a bit and my frugal self pains at that thought. lol
Do you have a credit card that works internationally? Probably the easiest way just to go to an ATM after arrival and also to pay the hotel using credit card. Then you don’t need to exchange any money before arriving. And don’t need to bring much cash either.
US banks will rake you over the exchange rate (e.g., 26 NTD/USD). Either exchange here (not at the airport though it’s still better than from a US Bank), or like @qwert_zuiop says just use a US credit card with no foreign exchange fees (u will get spot rate - a few pips).
For some reason I didn’t think this thru. My bank has some international fees and I don’t think I’ll have enough time to open an account with say Schwab. Doesn’t help that their branches near me are closed due to covid. I do have a credit card that would probably work. I’ll have to check into it.
Unfortunately I didn’t think this through. my bank charges quite a bit and I won’t have enough time to go start an account with a different bank. I’ll probably be stuck using the airport.
Since I’ll need to be quarantined, I’m not sure how strict the process will be. Do you know if I’ll still have access to the exchange booths in Kaohsiung airport? Maybe I’ll exchange just enough for taxi/quarantine hotel there instead of here. I booked my hotel directly with a manager (via Line) and so I didn’t go through a site.