Taiwan’s electric night markets, modern cities, and lush mountains make it a dynamic destination-and managing currency in Taiwan is part of traveling smart. The local currency is the New Taiwan Dollar (TWD), and while cards are accepted in hotels, department stores, and chain restaurants, many small eateries, street vendors, and transport options are still cash-only. ATMs are widely available and support most international cards, but some machines only offer instructions in Mandarin. This guide shows you how to handle money in Taiwan, where to get the best exchange rates, and when to rely on cash versus card.
How to pay in Taiwan – cash or card?
In Taiwan, cash is still widely used, particularly by small family businesses and markets. Major hotels and upscale restaurants accept cards. In Taiwan, there is the EasyCard available for use on public transport and for small purchases. It is a rechargeable smart card that can only be loaded with cash.
You can use cash for:
- Budget hotels
- Hostels
- Local tour operators
- Tips and gratuities (though not expected, cash is used when tipping)
- Entry fees to small temples or museums
- Local buses (if no EasyCard available)
- Local taxis
- Street food
- Small eateries / restaurants
- Sit-down restaurants (smaller ones)
- Small purchases
- Local expenses at traditional markets and night markets
- Mobile SIM and phone top-up (at convenience stores)
- Tailoring services
- Laundry services (coin laundromats)
- Nightlife / bars (smaller establishments)
You can use card for:
- 4 and 5 star hotels
- Large tour operators
- Shopping at malls
- Entry fees to major attractions
- Local trains (TRA and HSR with EasyCard or credit card)
- Airport transport (Taoyuan MRT, HSR, taxis)
- Sit-down restaurants (in cities)
- Upscale restaurants
- Online bookings for upscale hotels, flights, tours
- Spas (in urban areas or hotels)
- Vehicle renting
- Emergency medical clinics / pharmacies
- Mobile SIM and top-up (at airport counters or major stores)
Taiwan is still a very cash-friendly country, especially at night markets and smaller vendors. EasyCard is essential for seamless transport and convenience store payments.
What’s the best currency to take to Taiwan?
The only accepted currency in Taiwan is the New Taiwan Dollar (TWD). Note denominations include NT$100, NT$200, NT$500, NT$1000, and NT$2000.
Only some major international hotels may accept US Dollars but this is not common.
So, New Taiwan Dollar is the best currency to take to Taiwan.
Where to get the local currency in Taiwan?
In Taiwan, you can get the local currency in 3 ways. These are:
ATMs, or
Currency exchange
Money transfer and local pick-up
Tip: It’s best to avoid purchasing Taiwan Dollars in your home country (if you are not from South East or East Asia). It is not widely used globally and is moderately popular in East and South East Asia. So it might be difficult to find it at home and if you do, the exchange rate will not be favourable.
Types of cards to swipe in Taiwan
Visa and Mastercard transactions are commonly accepted for swiping. You might also find some places that accept Amex and other cards, albeit less frequently.
Types of cards at ATMs in Taiwan
When withdrawing money in Taiwan, majority of the ATMs will accept Visa, Mastercard, Cirrus, Plus, Maestro, JCB and UnionPay cards. Some of them may accept Amex cards but this is not common so don’t rely on it. Cards such as Diners and Rupay are not usually accepted by many ATMs.
Should I exchange money before travelling to Taiwan?
It’s useful to bring a small amount of New Taiwan Dollars (TWD) or USD before traveling to Taiwan for expenses like transportation, food, or tips. However, most foreign banks do not carry TWD, and exchange rates outside Taiwan may not be ideal.
Withdrawing cash from ATMs upon arrival is a practical choice. ATMs are widespread in cities, airports, convenience stores (like 7-Eleven and FamilyMart), and banks. Most accept Visa, Mastercard, and sometimes Cirrus or Plus cards. Check with your bank for international ATM fees and daily withdrawal limits.
Currency exchange is best done at major banks such as Bank of Taiwan, Mega Bank, or at exchange counters at Taoyuan International Airport. Airport rates are decent, but city bank branches may offer better rates. Hotels and private exchange shops are less common and may not offer favorable rates.
Cards are accepted in hotels, chain stores, and some restaurants, but smaller businesses, night markets, and transport often require cash. Carrying both cards and some cash (ideally TWD or USD to exchange) is recommended.
Where to withdraw money in Taiwan
The best ATMs for foreigners to use in Taiwan are those owned by popular banks such as:
- Bank of Taiwan,
- Mega International Bank,
- TaipeiFubon,
- Cathay United,
- Hua Nan,
- ChangHwa Bank,
- Kaohsiung Bank,
- HSBC, and
- Cooperative Bank.
For a detailed guide, read Cash and ATMs in Taiwan.
Discover fee-free and low-fee ATMs on the ATM Fee Saver mobile app for iOS and Android. This app provides ATM PINs and details of leading bank ATMs such as ATM fees and withdrawal limits for foreign cardholders at ATMs in Taiwan. Moreover, its simple fee calculator helps you determine exact withdrawal charges. You can also find cash tips and tricks on the app for 160+ countries including Taiwan. Download now from the App Store or Play Store.
Where to exchange currency in Taiwan
In Taiwan, you can exchange currency at authorised currency exchanges, banks, airports, and hotels, the most popular being authorised currency exchanges.
Taiwan has strict currency exchange regulations, and most exchanges happen at banks and authorized kiosks, especially at airports and transportation hubs. Unlike many countries, private exchange bureaus are not common.
Main exchange locations:
Taiwan Taoyuan International Airport (currency exchange counters open 24/7)
Taipei Main Station (bank branches and kiosks)
Hotels – may exchange small amounts, but rates are poor
- Banks Offering Currency Exchange:
Bank of Taiwan (most reliable, with widespread branches)
Mega International Commercial Bank
First Commercial Bank
Taipei Fubon Bank
Bank operating hours: typically Monday-Friday, 9:00 AM to 3:30 PM. Some bank branches at train stations and airports operate longer.
💡 Tip: Carry your passport for all currency exchanges in Taiwan. USD, EUR, JPY, HKD, and CNY are the most easily exchanged.
Pro-tips:
Stay away from airport exchanges – Poor rates
Avoid the black market – Be wary of being conned.
Include fresh notes – If your notes are damaged or dirty, you can expect to pay more or less.
Is carrying money in Taiwan safe?
Typically crowded areas and empty streets may have a safety issue. Otherwise, it is alright to carry a certain amount of cash. In general, avoid carrying unnecessary amounts of cash that you don’t need. Here are a few tips to ensure the safety of your cash during your travels in Taiwan:
Some safety tips for carrying cash while travelling in Taiwan are:
- Carry only the cash you need.
- Do not keep all the cash in one pocket or wallet.
- Put some cash in a safety belt or fanny pack.
- Do not flash your cash.
- When paying, do not remove or display your entire cash.
- Keep wallets preferably in front pockets.
- Cross-wear your purses if possible.
- Hold your purses, wallets and bags close and tight on crowded streets and in public trains and buses.
- When withdrawing cash, keep the cash low while you count it so people around don’t see it.
- If you’re dining alone, don’t leave your wallet / bag unattented while you go to the restroom.
- If sitting outdoors in a restaurant, don’t leave your wallets / bags on the table.
Is it better to use debit or credit cards or pay by cash in Taiwan
Use a card if it is fee-free i.e. your bank does not charge any fees to swipe the card, when the merchant / POS also does not impose any extra charge to use a card, you need to use the insurance of the card, don’t want to block cash of large purchases and card’s swipe fees are lower than withdrawal fees.
Pay by cash by withdrawing cash from ATM or exchanging currency where – fees on ATM withdrawals are lesser than fees on swiping cards, you don’t want to leave any digital footprint of your expenses, it is convenient and easier to conduct transactions.
