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Taiwan Dollars Question

 
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jonathanj



Joined: 09 Mar 2005
Posts: 93
PostPosted: Thu Jun 30, 2005 9:14 pm    Post subject: Taiwan Dollars Question Reply with quote
Hello. I am coming to Taiwan July 18th. I am wondering if 72,000 TWD is enough to travel for a week in the country (living cheaply in hostels and eating plenty of noodles) as well as setting up an apartment and getting a job.

Was also wondering if it is better to bring some TWD and some USD and then converting the USD into TWD in Taipei? I am sure the rates are better in Taiwan considering they are hungry for USD. I am thinking of bringing around 10,000 TWD to help me sustain for a week or so.

Also, where would be the best place to convert USD if I chose this option?

Let me know what you think and thank you in advance for the help.

Jonathan
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jonathanj



Joined: 09 Mar 2005
Posts: 93
PostPosted: Thu Jun 30, 2005 9:28 pm    Post subject: Reply with quote
Sorry, forgot to mention that I probably won't be chosing to live in Taipei therefore the costs will be lower.

Thanks.

Jonathan
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Serious_Fun



Joined: 28 Jun 2005
Posts: 1171
Location: terra incognita
PostPosted: Thu Jun 30, 2005 11:03 pm    Post subject: Reply with quote
I have only experienced Taiwan as a tourist....so no personal experiences re: getting an apartment as of yet, but I wanted to chime in about your funds:

I suggest that you NOT carry that much cash with you. (TWD 72,000 = ~US$2275 )

ATMs are my choice for cash. Every 7-11 store seems to have an ATM inside.

good luck!
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jonathanj



Joined: 09 Mar 2005
Posts: 93
PostPosted: Fri Jul 01, 2005 12:14 am    Post subject: Reply with quote
I can use my Canadian Bank Account ATM card there? Aren't most ATM machines in Mandarin?

Thanks

Jonathan
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Xenophobe



Joined: 11 Nov 2003
Posts: 163
PostPosted: Fri Jul 01, 2005 3:11 am    Post subject: Reply with quote
A lot of them are bilingual and if you're legal you can set up an account at a Taiwanese bank and have your card set up to work in English. Interac is non existant here, but plus is fairly common, as is cirrus
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wix



Joined: 21 Apr 2003
Posts: 250
Location: Earth
PostPosted: Fri Jul 01, 2005 10:50 am    Post subject: Reply with quote
Yes, better to bring traveller's cheques or access the funds via ATM. No need to get NT$'s in your home country. You can just change some cash or TC's at the airport when you arrive.
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JLockeCU



Joined: 01 May 2005
Posts: 7
PostPosted: Sat Jul 02, 2005 1:22 am    Post subject: Reply with quote
I always use ATMs abroad and I think it works great. They give excellent exchange rates, and my bank at home does not charge for them (I have a great bank). In Tainan Taiwan I have found many many ATMs that accept PLUS and have English.
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Sheep-Goats



Joined: 16 Apr 2004
Posts: 527
PostPosted: Sun Jul 03, 2005 3:32 pm    Post subject: Reply with quote
That should be enough, but you'll have to stay out of the bars more than you'd care to. 3000USD would be ideal.

Taiwan Bank has been the best for conversions in my experience, but if it's USD any bank will be happy to take it. As other posters have said, if you bring 2000USD in cash you're asking for trouble -- at least get traveller's checks.
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jonathanj



Joined: 09 Mar 2005
Posts: 93
PostPosted: Tue Jul 05, 2005 5:41 pm    Post subject: Reply with quote
Will the Taiwanese banks exchange Canadian money with no problems?
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Aristotle



Joined: 16 Jan 2003
Posts: 1388
Location: Taiwan
PostPosted: Wed Jul 06, 2005 4:48 am    Post subject: Reply with quote
Quote:
Will the Taiwanese banks exchange Canadian money with no problems?

Banks on Taiwan will exchange narly any major currency without much hassle.

Due to widespread incompetence in the local banking system and lack of confidence in the NT many Taiwanese prefer to keep their saving in foreign currency. You can actually open a bank account in a foreign currency with a Taiwanese bank.
I fail to see the logic in doing this but apparently it has great appeal for the local Taiwanese.
You may be able to get a better exchange rate for foreign dollars to NT outside of Taiwan.
72,000NT should be enough but be conservative with your cash until you find a job. Additional finances may be required to get back home or head to greener pastures.
Please read this.
Link to Success!

Good luck!
A.
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