Taiwan Exchange rates

I am coming to Taiwan soon (:slight_smile: yay!!)

But I wanted to ask my forumosa allies, how much do banks charge for Foreign travel checks or American dollars converted into Taiwanese dollars?

Right now it breaks my heart to say that One U.S dollar is worth only 30 Taiwanese dollars.

Any idea on how much banks would charge you for the conversion?

Lastly, any reliable place i should go to get my money exchanged and any places i should greatly aviod?

Thanks so much!

I brought travelers checks to Taiwan when I first came here, and I got screwed. I’ve been told you will get screwed everywhere. You will find most of the banks will take them, but it will probably cost you more than cash will. Unless you are bringing more than 10,000 US, which you shouldn’t be because it’s illegal, just stuff the cash somewhere where no one would dare look! You can get a decent exchange rate at China Trust (中華信託), even without an account and they are everywhere.

Bringing more than US$10,000 is not illegal. It just has to be declared.

It’s ironic that you got a lower exchange rate by cashing travelers checks. I go home twice a year and take money back with me. When I convert from NT$ to US$, the exchange rate is always better if I get the US$ in travelers checks instead of cash.

About how much did they give you for the exchange rate for the U.S Dollars?

how about for the travelers checks?