I’m from US. Is it better to exchange some money here and then exchange some more while in Taiwan? I don’t know if the rate is better to exchange USD in Taiwan
Wait until you get to the airport in Taipei. They have great rates there.
Taiwan’s MEGA Bank’s Cash Spot rate is 31.95 right now (11am) Keep in mind that the past 5-7 days the US dollar has been weaker.
So for 100USD you would get 3195NT at Mega Bank.
Bank of America’s rate is 30.32 as of right now but you have to order it in advance.
So 100USD x 30.32 = 3032NT
So you can calculate the difference and see if it is worth it to you or not. Exchanging 1000USD at Mega Bank would save you ~NT1630—> perhaps not worth your time? 2000USD you save NT3260 (~102 US dollars)----> more worth your time? : )
My experience is that the Taiwan Airport rate will be better than the US bank but will still not be as good as 31.95NT. But the convenience of getting it done at the airport and not having to worry about it is worth considering. But if you are exchanging thousands of dollars I would change at a place like Mega Bank.
(Also note that you will need your passport to exchange money at the airport and also at a bank in taiwan)
Where can I find the Mega bank and I can exchange money at the airport on Saturday right?
Yes the airport exchanges work on Saturday.
You can use google to search locations for Mega bank:
This might be a silly question but Mega Bank is the name of the bank or does it mean banks like HSBC?
It’s the name of a bank in Taiwan. Their website: https://www.megabank.com.tw/en/
However, not all branches can exchange currency. I copied from their website the ones that can:
分行名稱 地址 電話
城中分行 台北市許昌街４２號 02-23122222
南台北分行 台北市羅斯福路２段９之１號 02-23568700
金控總部分行 台北市忠孝東路２段１２３號 02-25633156
衡陽分行 台北市衡陽路９１號 02-23888668
駐外交部簡易分行 台北市凱達格蘭大道二號一二九室 02-23482066
大同分行 台北市南京西路１１３號 02-25567515
大稻埕分行 台北市大同區西寧北路６２之５號 02-25523216
國外部 台北市吉林路１００號 02-25633156
台北復興分行 台北市南京東路３段１９８號 02-27516041
中山分行 台北市中山北路２段１５號 02-25119231
南京東路分行 台北市南京東路二段五十三號 02-25712568
城東分行 台北市民生東路四段５２號 02-27196128
城北分行 台北市松江路１５６之一號 02-25683658
圓山分行 台北市中山北路２段１３３號 02-25671488
民生分行 台北市民生東路３段１２８號 02-27190690
松南分行 台北市南京東路５段２３４號 02-27535856
松山機場分行 台北市松山機場航站大廈一樓 02-27152385
敦化分行 台北市敦化北路８８之１號 02-87716355
忠孝分行 台北市忠孝東路４段２３３號 02-27711877
安和分行 台北市安和路２段６２號 02-27042141
敦南分行 台北市敦化南路２段６２號 02-27050136
台北分行 台北市忠孝東路四段５５０號 02-27587590
大安分行 台北市信義路三段１８２號 02-27037576
信義分行 台北市基隆路二段６５號 02-23788188
世貿分行 台北市基隆路一段３３３號 02-27203566
蘭雅分行 台北市中山北路６段１２６號 02-28385225
天母分行 台北市中山北路７段１９３號 02-28714125
內湖分行 台北市成功路４段６８號 02-27932050
東內湖分行 台北市內湖區港墘路２０２號 02-26275699
內湖科學園區分行 台北市內湖區瑞光路４７２號 02-87983588
南港分行 台北市南港區忠孝東路六段２１之１號 02-27827588
基隆分行 基隆市仁愛區南榮路２４號 02-24228558
板南分行 新北市板橋區南雅南路２段１４８號 02-89663303
板橋分行 新北市板橋區文化路一段５１號 02-29608989
新店分行 新北市新店區北新路二段１７３號 02-29182988
永和分行 新北市永和區福和路２０１號 02-29240086
雙和分行 新北市永和區永和路一段六十七號一樓 02-22314567
中和分行 新北市中和區中山路二段一二四號 02-22433567
土城分行 新北市土城區中央路２段２７６號 02-22666866
三重分行 新北市三重區重陽路３段９９號 02-29884455
南三重分行 新北市三重區重新路四段１２號 02-29748811
新莊分行 新北市新莊區思源路４２１號 02-22772888
思源分行 新北市新莊區思源路１６９號 02-29986661
宜蘭分行 宜蘭縣宜蘭市民族路３３８號１樓 03-9310666
羅東分行 宜蘭縣羅東鎮純精路二段１９５號 03-9611262
中壢分行 桃園市中壢區復興路４６號 03-4228469
北中壢分行 桃園市中壢區環北路４０６號 03-4262366
桃園分行 桃園市成功路２段２號 03-3376611
桃興分行 桃園市復興路１８０號 03-3327126
八德分行 桃園市八德區大智路１９號 03-3665211
桃園國際機場分行 桃園市大園區航站南路１５號 03-3982200
金門分行 金門縣金城鎮民生路３７－５號 082-375800
花蓮分行 花蓮市公園路２６號 03-8350191
Just use the atm.
The conventional wisdom is when NT$ are involved, always change in Taiwan.
The airport banks do not rip you off here.
@Ricarte: is there any near Wanfang Hospital mrt?
No. I think the easiest one to reach from there is the branch between Daan MRT:
大安分行 台北市信義路三段１８２號 02-27037576 (No. 182, Section 3, Xinyi Rd, Daan District)
[quote=“Chris”]The conventional wisdom is when NT$ are involved, always change in Taiwan.
The airport banks do not rip you off here.[/quote]
And are less likely to accidentally give you currency so old it’s no longer legal tender, which happened to me at Heathrow when I first came to Taiwan. It was a fun couple weeks with no spendable money before I figured out where to change it!
I found that Mega bank also has booth at Taoyuan airport. Would it be the same exchanging money there and at their office in Daan?
[quote=“Chris”]The conventional wisdom is when NT$ are involved, always change in Taiwan.
The airport banks do not rip you off here.[/quote]
Do you think that includes going from Taiwan to another country?
The wisdom is that banks in other countries don’t have a lot of TWD’s and they don’t want a lot of TWD’s. It is always better to take care of TWD transactions in Taiwan.
but really I cannot figure out why people are making this so hard. Use the ATM when traveling. Carry an ATM card, a credit card and 100 USD (emergency money). USD are easily exchanged everywhere and in many places can be used directly in a pinch.