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1. Money
Matters
The official currency of the Republic of China on Taiwan is the
New Taiwan dollar (NT$). Coins come in denominations of 1, 5, 10
and 50; bills come in denominations of 50, 100, 500 and 1000.
While exchange rates vary from day to day, the NT has been valued
for some time at around 34 to the US dollar.
US dollars and other foreign currencies are generally not accepted
in most places throughout Taiwan - be sure to exchange at least
some of your money for NT dollars when you enter the country. If
you are carrying foreign currency that is not particularly common
in Asia, be sure to make your exchange at one of the several airport
banks, as they will carry a greater variety of currencies than other
banks in Taiwan. However, once inside the country, you will be able
to exchange your foreign money at most banks and major hotels.
Major credit cards are valid in Taiwan, and a growing number of
restaurants, stores and other establishments accept them. Nevertheless,
plenty of smaller shops and restaurants don't, especially outside
the big cities - so make sure you carry at least some cash.
Traveler's checks are rarely cashable in stores or restaurants,
but are good in the larger hotels. They can also be exchanged for
NT dollars in banks.
2. Banking
With just a passport, foreign visitors can open up a bank account
in Taiwan. With an Alien Resident Certificate, higher-rate timed
deposits can be opened as well.
At most banks, automatic teller machine (ATM) cards are often issued
on the spot, and they can be used to draw cash at any other ATM
machine, including one's at post offices, anywhere in Taiwan.
International money transfers in and out of Taiwan are also a common
banking service, as is cashing traveler's checks.
[Business Hours]
| Banks |
Mon
- Fri
1st + 3rd Sat |
09:00
to 15:30
09:00 to 12:00 |
| Commercial
firms |
Mon
- Fri |
09:00
to 17:00 |
| Government
offices |
Mon
- Fri |
08:30
to 12:30
13:30 to 17:30 |
| Department
stores |
Mon
- Sun |
10:00/11:00
to 21:00 |
| Most
other stores |
Mon
- Sun |
09:00/10:00
to 22:00 |
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