Getting ready to travel abroad but feeling stressed about exchanging foreign currency? Not sure how the Bank of Taiwan foreign-currency exchange process works, what the Bank of Taiwan exchange hours are or how the Bank of Taiwan exchange fees are calculated? Don’t worry. This guide will thoroughly explain the three most common Bank of Taiwan exchange channels: over-the-counter service, Bank of Taiwan online exchange (EasyGo online settlement) and foreign-currency ATMs. Through detailed step-by-step instructions, pros and cons comparisons and cost analysis, you will be able to easily choose the method that best suits you, exchanging money in a cost-effective and time-saving way to kick off your trip on the right note.
Before choosing an exchange channel, understanding the strengths and weaknesses of each option is the first smart step. Bank of Taiwan provides a wide variety of exchange services, mainly divided into traditional over-the-counter service, convenient online exchange and emergency-use foreign-currency ATMs. In the following sections, we will use tables and detailed explanations to compare these three methods in depth and help you make the best decision based on your own needs (such as exchange amount, urgency and sensitivity to exchange rates).
| Comparison Item |
Counter Exchange |
Online Exchange (EasyGo) | Foreign-Currency ATM |
| Suitable For | First-time exchangers, those needing large amounts or less common currencies | Digital users seeking the best rates and tight travel schedules | For those who need small amounts of foreign currency urgently or already have a BOT foreign-currency account |
| Advantages ✅ | Dedicated staff service, widest range of currencies available, able to process large transactions | Best exchange rates, 24-hour ordering, extremely convenient airport pickup | 24-hour service, many locations, fast operation |
| Disadvantages ❌ | Requires waiting in line, limited by banking hours, less favorable rates | Requires online transfer, pickup time and location are limited |
Limited currency types and denominations, single-transaction and daily withdrawal limits |
| Fees | Usually no service fee | No service fee | No service fee when withdrawing from a TWD account |
| Rate Discounts | Posted cash selling rate | Enjoy discounted online exchange rates (usually better than cash rates) | Calculated based on the exchange rate at the time of withdrawal (usually between cash and spot rates) |
Counter exchange is the most traditional and straightforward method. It is suitable for users unfamiliar with online tools, those needing to exchange uncommon currencies (such as THB or IDR) or those with large exchange requirements. Although you must visit the bank in person, having staff assist you face-to-face provides extra reassurance.
For modern users who value efficiency and good rates, the Bank of Taiwan online exchange system “EasyGo Online Settlement” is undoubtedly the best choice. Its biggest advantage is allowing you to purchase foreign currency online at discounted rates, then pick it up at designated branches or airport counters, perfectly combining online savings with the convenience of physical cash pickup.
If you need foreign-currency cash urgently or only require a small amount, a foreign-currency ATM is your lifesaver. As long as you have a bank card from any bank, you can withdraw foreign currency at Bank of Taiwan ATMs that support this function, extremely convenient.
Tempted by the many advantages of online exchange? Don’t worry about complexity, the Bank of Taiwan online exchange process is very intuitive. Follow the four steps below, and even first-time users can operate it with ease!
First, search for “Bank of Taiwan EasyGo Online Settlement” or go directly to the Bank of Taiwan official website to locate the service. Once on the page, you will see the service instructions. Carefully read all terms, especially those regarding payment deadlines and cash pickup rules. After reading, check the box indicating “I have read and agree to the above terms”, and you can begin your purchase.
This is the core of the entire process. You need to select:
After confirming the transaction details, the page will ask you to fill in your basic personal information, including:
Once all information is filled in and submitted, you will receive a dedicated “virtual payment account” along with the exact TWD amount due. You must complete the transfer within the specified time limit (usually within a few hours after placing the order; the system will clearly indicate the deadline). Use a physical ATM, online banking or your mobile banking app to transfer the funds to this virtual account. Note: If the payment deadline is exceeded, the order will automatically become invalid.
After successful payment, you will receive a confirmation email. Next, on the previously selected pickup date, simply bring the following documents to the designated location to collect your foreign currency:
Provide these documents to the counter staff. Once the information is verified, you can collect your freshly prepared foreign-currency cash! The entire process is quick and simple, greatly reducing the time spent waiting at the bank.
To make your exchange process even smoother, we have compiled the most common questions about Bank of Taiwan exchange hours, fees and required documents, giving you clear answers all at once.
Different exchange channels operate on different schedules. Planning ahead ensures you won’t make a wasted trip.
This is one of the most frequently asked questions. Simply put, when exchanging foreign currency at the Bank of Taiwan, there is usually no direct “service fee”, but the real cost difference lies in the “exchange rate”.
Although no explicit service fee is charged, the bank earns through the spread between the “buy” and “sell” rates. Therefore, choosing a channel with better rates (such as online exchange) is the true key to lowering currency-exchange costs. You can refer to our foreign-exchange tutorial for more information about how exchange rates work.
Whether you exchange at the counter or pick up after online exchange, valid identification is required for verification.
A: The pickup time depends on when you place the order and complete the payment. Generally, if you complete payment before a specific cutoff time on a banking business day (for example, before 12:00 noon), you may be able to pick up the cash at your designated branch as early as that “same” afternoon. For airport pickups, timing depends on the airport counter’s operating hours. When using the system, the selectable “pickup date” will clearly show the earliest available date. Please follow what the system displays.
A: No. Counter exchange services are open to everyone. Whether or not you have a Bank of Taiwan account, you may bring TWD cash and your identification to exchange foreign currency. If you are a BOT account holder, you may also choose to have funds deducted directly from your TWD account, avoiding the need to carry large amounts of cash.
A: Yes. Bank of Taiwan’s counter at Taoyuan International Airport operates year-round, including weekends and national holidays, to accommodate flight schedules. However, the service is not 24 hours; it typically operates from early morning until late at night. Because hours may be adjusted based on flight activity, the safest approach is to check the airport branch’s latest operating hours on the Bank of Taiwan official website under “Service Locations” one or two days before departure.
A: If payment has been made but you have not yet picked up the cash, you must visit the originally selected pickup branch in person to process a “refund” (re-exchange). Please note that the refund will be calculated using the current “spot buying rate”, not the rate at which you purchased the currency, and the bank may charge a processing fee. As a result, you may incur foreign-exchange losses. Therefore, it is recommended to complete the online exchange only after your travel plans are fully confirmed.
In summary, the Bank of Taiwan foreign-currency exchange process is now highly diversified and convenient. For travelers seeking the best exchange rates and time efficiency, the “Bank of Taiwan Online Exchange” service is strongly recommended. Not only does it offer the most favorable rates and eliminate waiting lines, but it also allows airport pickup, making your pre-departure preparations far more relaxed. For last-minute or small-amount needs, foreign-currency ATMs are your best helper. Meanwhile, traditional counter service remains the most reliable option for those unfamiliar with online tools or those needing to exchange less common currencies. We hope this guide helps you smoothly handle the first step of your trip, allowing you to focus your energy and budget on enjoying your journey. Want to learn more money-saving travel tips? Stay tuned for our upcoming articles!
