Currency Exchange

Published: January,23,2014

A. Taiwan Currency Exchange

1. Taiwan Currency

(1) New Taiwan dollar (NTD)

(2) Coins: 50、20、10、5、and 1NTD

(3)  Bills: 2000、1000、500、200、and 100NTD

2. Exchange Rate

(1) USD:NTD—about 1 : 33

B. Post Office and Bank Services

1. To Open an Account in the Post Office/Bank

(1) To open a savings account in Taiwan, you should bring the following to a local post office or savings bank:

  1. Passport
  2. ROC Residency Permit
  3. A stamp (seal, chop) with your Chinese name
  4. 100NTD initial minimum deposit

For your own convenience, we suggest that you apply a debit card so you can make withdrawals from Automated Teller Machines (ATMs) nationwide.

2. Debit Card and Instructions

(1) Apply for a Debit Card: foreign students who have opened an account in the post office or a savings bank can apply for a debit card. You need to take along your passport, resident permit and your personal seal for making payments to the account bank or post office. (Many banks will now accept your personal signature in lieu of an official stamp.)

(2) Debit Card Convenience: your debit card can be used at domestic ATMs for deposit, withdrawal, and transfer or payment of funds.

(3) Withdrawal Limit at ATMs Operated by your Savings Institution: 30,000NTD per transaction.

Interbank Withdrawal: 20,000 NTD per transaction.

Daily Withdrawal Limit—100,000NTD per calendar day.

(4) Loss or Theft: Lost or stolen debit cards should be reported immediately to the 24-hours Customer Service Hotline and a stoppage of payment requested. A replacement card can then be applied for in-person at your savings institution on the following business day.