Options for transfering TWD to UK in 2022?

Business Money
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Firstly, apologies if this topic has already been done, but I couldn’t find anything similar after searching. Anyway…

I am leaving Taiwan soon. What are my best options for withdrawing money from one of my Taiwanese accounts and transfering it to my UK bank account?

I tried Western Union but they require a ‘Taiwan National ID.’

I tried withdrawing money from my Taiwanese bank account and depositing it in a UK bank account via ATM but got a non-specific error each time.

I COULD withdraw my money (about 100k) and take it to the UK, but I’m worried there won’t be anywhere to exchange NTD to GBP.

I tried PayPal but I can’t send money to myself.

Any ideas?

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Withdraw the money and change it at the airport before you leave.

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Why don’t you you transfer it online from your Taiwanese bank account to your UK bank account?

You will need a multi currency account at your taiwanese bank. You also need to ask them to add your UK bank account details to your online banking, they won’t offer.
Convert your NTD to pounds online. (Taiwanese exchange rates are wayyyyy better than Australian, you could transfer NTD to the UK but you should check the fees/exchange rate used)

Then login to your online banking and follow the prompts to transfer it to your UK bank account, it’s pretty easy and fast. When I’ve transferred money to Australia it’s only taken 2-4 days

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Wire it.

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Won’t the exchange rates be brutal? I’m completely out of the loop as I haven’t flown in almost 3 years.

This seems like a good option, I’m just worried my Chinese isn’t up to the task! I’ll research what to say and try this before I leave the country, thanks.

Sounds good, is there a particular wire service you have used before or would recommend?

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ARC and passport is enough for Western Union.

if you have a UK bank account, a bank transfer is the safest and easiest way from my experience

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Using your bank’s wiring service will probably be easiest and most secure.

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This was my experience last time I converted TWD to GBP and sent it to the UK with HUA NAN Bank.

I wanted to send NT$85,400.
NT$400 was deducted for transfer fee.
NT$85,000 > £2263.41 was sent to the UK.
Rate at the time was NT$85,400 > £2287.43.
So I lost £24.02 on the Taiwan side (rate + fees)

One day after sending the money I received it in my UK account. I received £2263.41. This means on the UK side Barclays did not take any fee, so in total I only lost £24, or 1.04%.

ABSOLUTELY DO NOT USE WESTERN UNION

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I will second this, it’s the same experience when I sent to the UK from BOT or Cathay

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Sending from Hua Nan to Barclays UK I had no fee on the UK side, but when I sent from Hua Nan to Citi in the US there was a $20 US fee.

I have no idea why Barclays didn’t charge a fee, according to their site it should have been £6. Maybe they have an agreement with Hua Nan.

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Barclays and NatWest where both wavering their fee’s for a time, I would say they want to build up foreign reserves, but Barclays was wavering fees both ways (I think still are).

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