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Changing won to Taiwanese dollars

 
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Aine1979



Joined: 20 Jan 2013
Location: Incheon

PostPosted: Thu Sep 24, 2015 5:22 pm    Post subject: Changing won to Taiwanese dollars Reply with quote

I'm heading to Taiwan tomorrow, and I'm getting conflicting info on the best way to change money. I plan on changing 1.5 mil, and was just going to change it straight to TWD. A few people have told me I'm better to change the won to USD and then change the USD to TWD when I get to Taiwan - anyone got any advice? Thanks!
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Porksta



Joined: 05 May 2011

PostPosted: Thu Sep 24, 2015 7:08 pm    Post subject: Reply with quote

If you exchange money twice, I reckon you are losing money. You are losing on two exchange rates, and you are paying two exchange fees. That being said, I think banks sometimes convert to USD and then to the other currency.

Regardless, do not take won outside of Korea.
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Aine1979



Joined: 20 Jan 2013
Location: Incheon

PostPosted: Thu Sep 24, 2015 7:28 pm    Post subject: Reply with quote

I was told that you get a really bad rate in Korea for minor currencies like TWD, and that even changing twice USD works out better - I'll check the rates at the bank and try to work it out myself.
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SeoulNate



Joined: 04 Jun 2010
Location: Hyehwa

PostPosted: Thu Sep 24, 2015 11:12 pm    Post subject: Reply with quote

Either change into USD or have a credit card that you can use internationally that will charge you a local conversion based on USD.
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