Cash is still king in Taiwan. You’ll hear people say otherwise, claiming the island is a digital payment utopia because of the ubiquitous "EasyCard," but try paying for a bowl of beef noodles at a night market with a Visa. It won't happen.
If you’re planning a trip to Taipei or Taichung, you've gotta convert dollars to Taiwan NT (New Taiwan Dollar, or TWD) without getting ripped off. Most travelers make the mistake of over-preparing or, worse, trusting the "zero commission" booths at their home airport. Don't be that person.
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The Reality of the Exchange Rate Right Now
As of mid-January 2026, the US Dollar has been hovering around the 31.60 TWD mark. It’s been a bit of a rollercoaster lately. On January 1st, 2026, you were looking at roughly 31.30, but the dollar strengthened throughout the month.
Honestly? Don't stress the daily fluctuations of 0.1% unless you're moving six figures. What actually eats your lunch are the "spreads"—the difference between the mid-market rate you see on Google and what the bank actually gives you.
Taiwan is actually one of the few places on earth where exchanging cash at the airport isn't a total scam. Usually, I’d tell you to avoid airport booths like the plague. In London or New York, they’ll shave 10% off your value. In Taiwan? The Bank of Taiwan and Mega Bank counters at Taoyuan International (TPE) are heavily regulated.
They charge a flat fee. It's usually about NT$30 (which is basically one US dollar). That's it. No hidden percentage scaling that punishes you for exchanging more.
Where to Convert Dollars to Taiwan NT for the Best Value
You've basically got three real options, and one of them is a trap.
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1. The Taoyuan Airport Counter (The Safe Bet)
When you land, walk past the first exchange booth you see inside the arrivals hall. There’s usually a line. Walk five minutes further toward the baggage claim or the bus station; there are identical booths with zero wait.
These banks—Bank of Taiwan and Mega Bank—are government-backed. They aren't trying to hustle you. They offer "Cash Buy/Sell" rates that are remarkably close to the interbank rate.
2. High-Street Banks in the City
If you’re already in Taipei and need more cash, you can head to a local branch. Bank of Taiwan is the gold standard here.
Warning: it’s a bureaucratic process. Bring your passport. You’ll have to take a number, fill out a form that looks like a tax return, and wait for a teller to meticulously count every bill. Sometimes they even check for tiny tears or ink marks. They are incredibly picky about bill quality. If your $100 bill has a slight fold or a stray pen mark, they might reject it.
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3. The ATM Method (The Pro Move)
If your home bank doesn't charge foreign transaction fees, just use an ATM. Look for the 7-Eleven (7-11) or FamilyMart ATMs (usually Cathay United or Chinatrust).
Here’s the trick: when the ATM asks if you want to be "charged in your home currency" (USD) or the "local currency" (TWD), always choose local currency. This is called Dynamic Currency Conversion (DCC). If you choose USD, the ATM owner sets the rate, and it’s always terrible. If you choose TWD, your home bank does the math, which is almost always better.
What Most People Miss About TWD
You can't just walk into a department store and pay with US dollars. Unlike some parts of SE Asia where the greenback is a secondary currency, Taiwan is strictly TWD.
Also, keep an eye on your bill quality. I can't stress this enough. Taiwan’s banking system is old-school. They want crisp, clean bills. If you're bringing a stack of US dollars to exchange, make sure they look like they just came off the press. Discolored or wrinkled bills will be met with a polite "no" at city banks, though airport booths are sometimes slightly more forgiving.
Dealing with the "EasyCard"
Once you convert dollars to Taiwan NT, the first thing you should do is buy an EasyCard at a convenience store. It costs NT$100 (non-refundable) and you can load it with cash. It works for the Metro (MRT), buses, trains, and even at most convenience stores. It’s the closest you’ll get to a "cashless" experience, but you still need physical TWD to top it up.
Quick Reference for January 2026
Since rates move, here’s a rough idea of what your money gets you right now (based on a 31.62 rate):
- **$10 USD** = ~NT$316 (A nice lunch at a food court).
- **$50 USD** = ~NT$1,581 (A mid-range dinner for two).
- **$100 USD** = ~NT$3,162 (A decent hotel night or a massive shopping spree at Shilin Night Market).
Actionable Steps for Your Trip
Don't overthink it. If you want the smoothest experience, do this:
- Bring clean $100 bills. Avoid 20s or 50s; the rates are sometimes slightly better for $100 denominations, and it's less paper to carry.
- Exchange $200 at the airport. This covers your bus/MRT to the city and your first few meals.
- Use a fee-free ATM for the rest. Cards like Charles Schwab or Betterment reimburse ATM fees globally, making them the cheapest way to get TWD.
- Avoid the hotel desk. Unless it's an emergency, hotels offer the worst rates in the country. They’re basically charging you a convenience tax.
- Keep your exchange receipts. If you have a ton of TWD left over at the end of your trip, some banks require the original "buy" receipt to let you change it back into USD.
Before you head to the airport, call your bank and let them know you're going to Taiwan. There's nothing worse than having your card swallowed by an ATM in Ximending because the bank's fraud department thought someone stole your identity. Grab your cash, get an EasyCard, and go find some scallion pancakes.