Money, cards and ATMs in Taiwan

Money and payments

The official currency is the New Taiwan Dollar (TWD, written locally as NT$ or 元). Approximate rates as of July 2026:

• 1 TWD = 0.027 EUR (1 EUR = 37.07 TWD)
• 1 TWD = 0.031 USD (1 USD = 32.20 TWD)

Use a Cathay United Bank ATM and pay nothing.

• Most Taiwanese ATMs charge foreign cards a fixed operator fee of 100 to 200 TWD per transaction, and the widespread CTBC Bank network inside 7-Eleven stores typically takes 100 to 150 TWD. Most banks cap a single foreign-card withdrawal at 20,000 NTD.
• Cathay United Bank (CUB) machines, also in most 7-Eleven branches, are among the very few that charge no fee at all on foreign debit or credit cards. Only your home issuing bank may still charge its own.

Always settle in TWD, never in your home currency. When an ATM or store terminal spots a foreign card and offers Dynamic Currency Conversion, accepting it hands the exchange rate to the machine's operator, who adds a hidden 5% to 10% markup over the standard Visa/Mastercard rate.

Exchanging cash is safe here.

• Best rates - official bank counters in the airport arrivals halls, Bank of Taiwan and Mega Bank.
• In the cities - physical bank branches only, Monday to Friday, 09:00–15:30.
• No street booths exist in the country, which removes the counterfeit-note and hidden-fee risk entirely.

Carry cash: daily life still runs on it.

• Cards work at hotels, department stores, international chains and better restaurants.
• Cash only at smaller local eateries, night market stalls, traditional taxis and temples.
• Topping up EasyCard and iPASS takes physical banknotes, at metro machines or convenience-store checkouts. Contactless payment for transit top-ups is not technically supported.

Tipping has no tradition in Taiwan and is not expected from foreigners. Higher-end restaurants and hotels add an automatic 10% service charge to the bill. Leave loose change on a table at an ordinary eatery and staff may well run after you down the street to return the "forgotten" money.