Friday, July 24, 2009

Ways of exchanging USD to NTD

I found a blog post (in Chinese) that compared 5 different ways:

It seems like the best way is actually to just write a personal check, and desposit in to a Taiwanese bank (USD account). The Taiwanese banks would usually charge some fees, but not too much.
Here's another post that listed the fees of several different bank: 美金支票如何兌現.
The drawback of doing this is that they have to send the check for verfication, so it will take a few weeks before the money appears in the account.

So if you're exchanging NTD (or TWD, as Google calls it) for a short trip, just bringing cash or traveller's cheque might still be the way to go. Or withdraw with an ATM card works too.

I'll probably open a USD account in Taiwan, and just write myself a check, and then transfer it to a NTD account in the same bank. :)

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