Short Term Banking Options?

Hello,

I will be teaching in Taipei this July and expect to be paid in cash. My US bank account (Bank of America) does not have a retail branch there. Any advice on how to deposit money in Taipei and get it to my US account? I really don’t want to have to hold on to and travel with large sums of cash.

Thanks,
Johnny

I assume you will have an ARC and can open a bank account? If so, when you are ready to leave, you can get traveler’s cheques from a number of banks denominated in $US. You could also just transfer it to your US account from most banks–some banks charge modest fees, while others charge a lot.

I’m not sure what an ARC is? I will only be working in Taipei for about five weeks.

Do a search on Taiwan+ARC (use google/this site).

If no ARC, ask whoever is employing you how to deal with this. Also, I would imagine that 5 weeks of pay minus applicable 20% taxes won’t be excessive. You should be able to exchange at a bank (possibly with your boss/someone accompanying you) and bring back cash/TCs.