Money

New Taiwan Dollars, abbreviated locally as NTD (hereafter as NT$), is the currency unit in Taiwan. Approximate exchange rate: 1 USD = 30 NTD. The NTD notes in circulation are NT$2,000, NT$1,000, NT$500, and NT$100.

NTD coins in circulation are NT$50, NT$10, NT$5, and NT$1. 

Living costs for one month in Tainan may range from NT$8,400~16,000 (US$280~533). 

Feel free to bring credit cards, and a limited amount of cash (Traveler’s cheques are not recommended. Most banks and stores do not take them). The post office at Kuangfu Campus is able to exchange a limited selection of foreign currencies.

Additionally, cash may be withdrawn from ATMs located in most nearby convenience stores (please be mindful of your bank’s own overseas charges for this service). However, each bank has different daily withdrawal limit ranging from NT$8,000~20,000.

 

 

Open a Post Office/Bank Account

 International remittances service is available for both Chunghwa Post Office accounts and bank accounts. It is convenient to open a post office account.

 

To open an account at post office, you would need to prepare following:

  1. Passport and ARC (or “Record of ID No. in the Republic of China” issued by Immigration Agency)
  2. Seal/signature
  3. Money

 

Bank Account

To open a bank account, please check with bank for required documents:

  1. Passport and ARC
  2. Seal
  3. Money

 

West Union/MoneyGram

You could find money transfer service from King’s Town Bank, Yuanta Bank, Taishin International Bank, TC Bank and Cosmos Bank in Tainan. Please note the service fee would be charged.