Hi, Just wanna ask something. Does in Taiwan often use US Dollar or just use Taiwan Dollar? Will they accept if I use US Dollar? Thank you.
People just use Taiwan Dollar.
No one will take the US dollar but it’s something easy enough to exchange at any bank. Make sure you bring your passport!
No one will take the US dollar but it’s something easy enough to exchange at any bank. Make sure you bring your passport![/quote]
Not really. Almost all will only accept Franklins (and not the North Korea ones).
There is only 1 bank that I know that’ll accept non-Franklins.
Pre-1997 100 US dollar bills wont be accepted in Taiwan due to excessive North Korean counterfeiting.
Fubon Bank will take American 20s though and post-1997 100 dollar bills.
I think I want to bring US dollar with me in Taiwan. Then I can exchange with Taiwan dollar at the bank there. Nvm, I got what did you say. Thnx.
just use an ATM.
taiwan isnt as picky as some SE asian countries, but damaged bills (ripped, written on etc) will be charged a fee to exchange. if its really bad they wont. also old style bills you need to pay a fee to exchange. so if you are bringing them, bring the new style without much damage. i never had troubles, but i never tried exchanging old 100s.
[quote=“California”]Pre-1997 100 US dollar bills wont be accepted in Taiwan due to excessive North Korean counterfeiting.
Fubon Bank will take American 20s though and post-1997 100 dollar bills.[/quote]
I’ve only had series 2006 or later 100 dollar bills are accepted.
I had no problems with exchanging series 2006 or later 100 dollar bills but I’ve had pre-2006 100 dollar bills flat out rejected (even series 2003).
Exchange while you can because based on the data I am looking at if the US Federal Reserve Bank decides to print more money. 1-2 more times of quantitative easing i.e. “american citizens footing the bill” your are going to be looking at USD to NTD rates that have never been seen before (less NTD for your USD). My wife and I have been discussing how we can take our money in NTD and other Asian currencies, sit on them, wait for the USD to fall along with even lower housing prices and we will buy that dream house we want in Santa Fe, NM. The primary indication to me that the USD is past the point is that when European data comes out, the USD doesn’t get stronger, it continues to flat line or get weaker. Based on previous times it should become stronger. It is advantageous or worrisome depending on you knowledge and perspective.
And based on some forecasts there may be a rise in the USD versus the NTD but nothing past June. Something like 29.81 versus Aprils 29.38, So if you move a lot of money it might be better to sit for now. I have a currency account so I just wired money from the US to my account in Taiwan and when the exchange rate is better I will transfer to NT.
Taiwan just uses NTD, A great way to bring money to Taiwan is Travelers Checks, and then go to the American Express Building and get them cashed. A local bank may charge a fee or not cash them at all. If you cash them at the AMEX building you won’t pay besides the exchange rate. Then you can look at the exchange rates and get a little better deal. You can use the ATM but depending on your bank you could pay 300-500 ntd in fees. The bonus to American Express checks cashed at their building is you don’t have to pay the fee. If you don’t have an ARC you are going to have a hard time exchanging anything. USD you can even get exchanged for a better rate is you know the right people. USD is still the world reserve currency so you can still get your money that way but your fees may add up and you may be better just going through the ATM. Airport Exchange is fair. I suggest always coming to Taiwan with some NTD because they don’t operate like many parts of the world, a cab driver won’t take your USD. At least I never had one do it.
American Express Building
12F, Home Yong Building
262-265 Fu Hsing North Road or FuXing N Rd, or Fushing. (pinyin is a bitch in Taiwan)
SongShan District
Taipei City, 10543
Taiwan
Phone:
886 2 2719 0808
Fax:
886 2 2718 5993
Please be aware that this information may change. This was the last place I cashed travelers checks.
Just use an ATM. All up, I only lose 5.5% on my AUD and I’ve been doing it for the last 18 months.
I remember when I inquired about swapping my money inside AU, I was quoted a colossal 17%. And that was after doing a lot of shopping around.
And of course you don’t want to step off their airplane with loads of cash or you’ll have trouble with customs.
The NT$ is usually strongest against the US$ around April. That’s the time I generally change my NT$ to US$.