Planning an overseas trip starts with preparing foreign currency cash. For users who frequently use Cathay United Bank, understanding the pros and cons of different exchange channels is essential. Although exchanging at the counter is convenient, the exchange rate is often not ideal. On the other hand, using the CUBE App together with foreign currency ATMs has become the go-to method for the new generation of smart savers. Below, we’ll take an in-depth look at the differences among the three channels to help you choose the option that best suits your needs.
| Exchange Channel | Fees/Costs | Applicable Exchange Rate | Advantages | Disadvantages | Suitable For |
| 🏦 Bank Counter Exchange | No handling fee, but the exchange rate cost is the highest | Cash selling rate | ● Allows exchange for specific denominations
● No need to open a foreign currency account in advance |
● Worst exchange rate
● Must comply with bank business hours ● May require waiting in line |
Users unfamiliar with online operations or those who need large amounts or specific denominations |
| 📱 CUBE App Online Exchange | No handling fee, only subsequent withdrawal fees apply | Spot selling rate | ● Best exchange rate, often with additional discounts
● Available 24 hours a day |
● Requires opening a foreign currency account in advance
● Cash must still be withdrawn later via ATM or at the counter |
All Cathay United Bank users, especially investors and travelers who want to secure the best exchange rates |
| 🏧 Foreign Currency ATM Withdrawal | Depends on the debit account (see details below) | Cash selling rate | ● Widely available locations with 24-hour service
● Fast operation, no waiting in line |
● Fixed withdrawal denominations
● Daily and per-transaction withdrawal limits |
Users making small exchanges, needing urgent withdrawals, or seeking to save money by combining with online exchange |
This is the most traditional method, where you bring Taiwan dollars in cash or deduct directly from your TWD account to exchange for foreign currency with a teller. Cathay United Bank does not charge an additional “handling fee” for counter exchanges, but the catch lies in the details—the cost is reflected in the “cash selling rate”. This rate is the worst among all channels because the bank must bear the costs of storing and transporting physical banknotes. If the exchange amount is small, a few hundred dollars in rate difference may seem negligible, but when exchanging tens or hundreds of thousands of TWD, the loss from the exchange rate difference can be quite significant.
For budget-conscious travelers, using the Cathay United Bank CUBE App for online exchange is the top choice. Its biggest advantage lies in applying the “spot selling rate”, which is usually much better than the cash rate. In addition, Cathay United Bank often offers rate discounts for popular currencies such as the US dollar and Japanese yen, further lowering your exchange cost. There are also no handling fees for exchanges made through the app. You can purchase foreign currency when the rate is favorable, store it in your foreign currency account, and withdraw the cash before your trip.
If you need foreign currency cash on short notice, foreign currency ATMs are a convenient option. However, the fee calculation is a bit more complex, as it depends on which account the funds are deducted from. This is the key to saving on Cathay United Bank foreign currency withdrawal fees, which we will break down in detail in the next section.
Many people feel confused about the fees for withdrawing foreign currency from ATMs, especially when they hear the term “exchange rate handling fee”. Don’t worry, we’ll explain the logic of Cathay United Bank’s exchange fee calculation through two common scenarios below.
This is the least recommended approach! When you withdraw foreign currency directly from your TWD account at a Cathay foreign currency ATM, the bank charges a fixed handling fee and applies the current “cash selling rate”.
⚠️ Calculation Formula:
Total Foreign Currency Withdrawn × Current Cash Selling Rate + NT$100 Handling Fee
Example: If you withdraw 10,000 Japanese yen and the current cash selling rate is 0.215, the total TWD cost you need to pay is (10,000 × 0.215) + 100 = 2,150 + 100 = 2,250 TWD. The extra 100 TWD is the handling fee, which makes this method very cost-inefficient.
This is the method most people use, “exchange online first, then withdraw later”. When you withdraw cash from a foreign currency account, there is no fixed NT$100 handling fee, but an “exchange rate handling fee” will be charged.
Why is that? 🤔 Because when you exchanged currency online via the app, you purchased foreign currency at the more favorable “spot rate”. However, when you withdraw physical cash, the bank passes on the cost of storing and handling the banknotes to you. Therefore, the fee is calculated based on the difference between the “cash selling rate” and the “spot selling rate”.
💡 Calculation Formula:
Amount Withdrawn × (Cash Selling Rate at Withdrawal – Spot Selling Rate at Withdrawal)
Example: If you withdraw 100,000 Japanese yen, and at the time of withdrawal the cash selling rate is 0.215 while the spot selling rate is 0.212, then the exchange rate handling fee is 100,000 × (0.215 – 0.212) = 100,000 × 0.003 = 300 TWD.
Good news! Cathay United Bank is currently offering a highly generous promotion: until December 31, 2025, withdrawals of foreign currency cash from Cathay United Bank foreign currency accounts at its own foreign currency ATMs are “completely exempt” from the above-mentioned exchange rate handling fee!
This means that you can use the most favorable spot rate on the CUBE App to purchase foreign currency and then withdraw the cash at an ATM with zero additional cost. It’s the smartest and most cost-effective way to prepare your travel funds right now, avoiding both the poor counter exchange rate and the fixed handling fee for TWD account withdrawals. Remember, this offer is time-limited, make sure to take advantage of it before your trip!
Now that we’ve covered the theory, let’s walk through the step-by-step process to help you achieve maximum savings when exchanging Japanese yen at Cathay United Bank!
➡️ Download and log in to the CUBE App: Make sure you have activated both your TWD and foreign currency accounts with Cathay United Bank.
➡️ Monitor exchange rate trends: Go to the “Foreign Exchange” section and check the spot selling rate for Japanese yen (JPY). You can use the in-app rate chart or set a “Rate Alert” to buy when the price reaches your desired level.
➡️ Execute the exchange: Tap “Exchange”, enter the amount in TWD or JPY that you wish to convert, and confirm the transaction details to complete the process. The purchased yen will be deposited directly into your foreign currency account.
Not every Cathay United Bank ATM supports foreign currency withdrawals. Before heading out to withdraw cash, be sure to use the “Service Locations” search feature on the CUBE App or the official website to filter for “Foreign Currency ATMs” and confirm that the selected machine offers Japanese yen cash withdrawal service.
➡️ Insert your bank card and enter your PIN.
➡️ Select the “Foreign Currency Withdrawal” function.
➡️ [Key Step] When choosing the debit account, make sure to select “Foreign Currency Account”. This is the only way to activate the fee-free promotion.
➡️ Choose the currency “Japanese Yen (JPY)”.
➡️ Enter the withdrawal amount: Cathay foreign currency ATMs usually dispense Japanese yen in 10,000-yen denominations, so you can only withdraw in multiples of 10,000.
➡️ Confirm the transaction, then collect your cash and receipt.
By following these three steps, you can successfully obtain your travel funds at the most favorable exchange rate, completely free of handling fees!
In summary, the best strategy to save on Cathay United Bank exchange fees is to “buy smart through the app and withdraw easily at the ATM”. Move away from the traditional mindset of visiting the bank in person—make good use of the CUBE App’s favorable spot exchange rates, buy Japanese yen or other foreign currencies in batches when rates are low, and combine it with the fee-free foreign currency ATM withdrawal promotion available until the end of 2025. This way, you’ll save time, effort, and money. Before your next trip abroad, skip the counter exchange and try this method instead. Then, use the money you save on fees to enjoy an extra bowl of ramen!
A: According to the current announcement from Cathay United Bank, customers who use a Cathay United Bank debit card to withdraw cash from their foreign currency account at the bank’s own foreign currency ATMs are exempt from the exchange rate handling fee until December 31, 2025. However, the bank reserves the right to modify the promotion, so it is recommended to check the official website for updates before making a withdrawal.
A: No. Only designated “Foreign Currency ATMs” have the function to dispense foreign currency. You can use the “Service Location Search” feature on the Cathay United Bank CUBE App or the official website to find the nearest foreign currency ATM.
A: Yes. Foreign currency ATM withdrawals are subject to single transaction, daily, and monthly limits, depending on your account level and the bank’s policies. Generally, the maximum amount per withdrawal for Japanese yen is around 100,000, and the daily limit is combined with your TWD withdrawal limit (usually equivalent to NT$100,000–150,000). For large withdrawal needs, it is recommended to make multiple withdrawals on different days.
A: Currently, Cathay United Bank foreign currency ATMs mainly provide four currencies: US dollars (USD), Japanese yen (JPY), Hong Kong dollars (HKD), and Chinese yuan (CNY). The denominations are fixed. For example, USD is usually dispensed in $100 notes and JPY in ¥10,000 notes. Smaller denominations cannot be selected.
A: You can, but it is highly discouraged. Using another bank’s debit card at a Cathay foreign currency ATM is treated as an “interbank transaction”. In addition to being subject to the least favorable cash selling rate at that time, you will also be charged a service fee by Cathay United Bank and an interbank withdrawal fee by your own issuing bank. This makes it the most expensive method of all.
