On-site Money Matters

Currency Exchange

Official Name: New Taiwan Dollar, 新臺幣, Xīntáibì Yuan, 圓 or 元 (Official Name)
Common Name: Yuan, Kuai, 圓, 元, 塊, NT$, TWD
$1 = ~ NT$ 30.65 (as of June, 2023. See XE Currency Converter for up-to-date rates.)

Money and Banking

We suggest that you travel with several sources of money (ATM/debit card, credit card, and cash).  This will ensure that if one of your means for accessing money fails, you will not be stranded without money. Before using your debit or ATM cards while overseas, be sure to check with your bank regarding applicable fees that can sometimes be steep.

Let your bank know ahead of time that you will be traveling in Taiwan so they do not freeze your cards when charges from Taiwan appear.

We do not recommend bringing large amounts of cash, but if you choose to bring cash with you, please examine your money carefully before departure to make sure it is in good condition. Never exchange your US dollars for NT$ with an unofficial money changer, as this is illegal.

Although all room and tuition have been included in the program fee, participants are responsible for paying all incidental costs, such as meals, personal entertainment, independent travel, and shopping. You should be prepared to access and use cash for most of these costs.

You should carry a major credit card for expensive purchases and emergencies, but keep in mind that they cannot be used in some stores and less expensive restaurants in Taiwan.

Recommended Debit & Credit Cards

MasterCard/Visa/Amex for Credit/ATM cards.

Though credit cards are widely accepted in general, American Express is less widely accepted than Visa or MasterCard.

Check with your credit card company to see if you will be charged foreign transaction fees for purchases made in Taiwan. Some cards charge these and others don’t, and you don’t want to be surprised.

Important Reminders

  • Please note that meal stipends are not included in your program fee so you should anticipate about $15 per day for meals.
  • Do NOT exchange money on the street, as it is illegal and risky.  Counterfeiting is also prevalent.
  • Before you leave, make sure you call your bank and credit card companies and let them know that you plan to be in Taiwan (and call again with dates for China or Hong Kong, if you plan to visit the mainland). Otherwise, your ATM and credit cards may be frozen.

Emergency Cash

BEFORE you leave the U.S., you should discuss with family and friends a plan for getting more money during the program.  Check Western Union details and service fees, credit cards, and ATM daily limits and availability.