Money and Banking in Taiwan

Home

Money and Banking

Money and Banking in Taiwan

The currency in Taiwan is the New Taiwan Dollar, abbreviated to "NT$".

The coins come in $1, $5, $10, $20 and $50 (2 varieties) and the notes $100, $500, $1000, $2000.

Taiwan is an inexpensive country to live in, however in major cities like Taipei, the cost of living is higher. Many foreigner English teachers make as much as doctors and lawyers do in Taiwan.

To open a back account you are required to provide your passport and ARC card. All banks have some English speaking staff. Most banks are closed on Saturdays, but are open later on weekdays.

ATM - Cash Machines

ATMs are very common ad most have an English option and support most major western banking card systems. You can pay all your bills and transfer money through ATMs. Many international banks (ex: HSBC, Citi Bank, RBC) have branches in Taipei and in other major cities. Taiwan is a cashed based society and you are able to withdraw up to NT$20,000 per transaction until either you or the machine is out of money.

Credit Cards

Bring’em if you got’em. All major credit cards are accepted in Taiwan. It is possible of applying for a credit card in Taiwan, but I wouldn’t hold your breath on actually being issued one.

Teacher Training

Newbie Teachers

Getting Ready

Teacher Reviews

Megan Cramer

Megan Cramer “I recently returned from my first year in Korea. I spent it in Jeonju where the foreign community is very close and open to all new people. Footprints made the journey so easy, especially their step-by-step guide to getting all paper work done properly the first time! I was placed with/chose a decent school where the teachers and students were great. I occasionally had troubles, but it was not Footprints fault, but a cultural difference and I had to learn to change my thinking to better negotiate my needs. No journey is a walk in the park, but Footprints made the difficult and stressful parts more bearable. I am glad I went with them, and if or when I go back, I would like to be represented by Footprints!”