And I assume it’s a bank, but which one offers the best exchange rates? Also, is there any other alternative? And, is there any tool for comparing these things?
How’s the leg.
The best rate I guess is with the BOT, Bank Of Taiwan.
What ever you do, don’t take any NT$ to Europe. You will lose up to 20% over there.
Mega and BOT are the usual suspects
But which one is better? Does it matter if one has an account? At Mega they tell me to use their multi currency ATM for better rates.
I was told the same today… well, I think, because another person of the same bank said that in the end, after applying the commissions, it’s the same.
Which one is best changes depends which currency you want to change and the rates change all the time, so I can’t really answer that.
Each bank has a cash rate and a spot rate. You get the cash rate when handing over USD to get TWD (what a tourist usually does) and you have to pay commission. You get the better spot rate when transferring money between your multi currency accounts. The ATM probably applies the spot rate to transfer TWD from your TWD account to the USD account before paying out and has no/little commission.
yea, if the euro rate looks dodgy buy US and change again in Europe.
Thought of that, but I didn’t check how much I would get in Europe in exchange. However, I suspect that having to pay interests 2 times instead of 1 wouldn’t be much better.