Job Discussion Forums

[mayjay]

Hello All -
I have a money question. I am coming to Taiwan. I have a bank account in my home country in which all my money is sitting right now. When I get over to taiwan, my school will help me set up a bank account there. So, I'm trying to figure out what the best way to get my money from home into this new account would be. Some people say that you can use your bank card from home in Taiwan but I've also heard that can be difficult at times and expensive. I don't want to bring all my money over in cash for obvious reasons. I'm trying to figure out if I can wire money from one account to another but I've also heard that is expensive. I thought of bringing my money over in mostly travellers cheques with a bit of cash. Bottom line is that I don't want to be in Taiwan and not be able to access my money. I need to keep this account open at home because I have to pay student loans and visa bills. I guess I'm just wondering what everyone else has done. What's worked for you, you know? So, any hints or ideas would be greatly appreciated. Thanks a million.

[markholmes]

Travellers cheques in your country's currency, unless your country has mickey mouse money, then bring it in US$. Safe, secure, bloody good rate and you save yourself the wire fee. Yes you can use your bank card in Taiwan (Visa, Mastercard, Cirrus, Delta but I believe not Interac) but the rate will not beas good as travellers cheques.

Last month I changed $18,000 Canadian dollars into CAD$ travellers cheques (in my Canadian bank). It costs be CAD$5 (2.10 pound, US$3.50)

[Aristotle]

Credit cards or Debit cards are the fastest and cheapest way to move money around internationally. Get an American Express or international VISA credit or debit card through and international bank that has a branch in Taipei. Make the deposits into your card account here and you can take them out or transfer them as you need anywhere in any currency.
Good luck,
A.

[stillnosheep]

Wrong thread, sns. Wrong thread!

(Sorry. I often get my 'o's and 'a's mixed up) ...

[AQUA MARINA]

I will be headed to Taichung City and have heard conflicting opinions about Travellers's cheques. Some say avoid it altogether, while others say convert into US currency or open up another bank account that gurantees's ATM access in Taiwan.

I want to make sure that I am covered If for some reason I am not able to access my bank account thru ATM machines back home.

I want to keep President's Choice Bank open to pay my student loans and credit cards and they cannot gurantee that I will be able to access my account to withdrawl funds even though it should accept the PLUS symbol.

Minus the headaches opening another bank account, I prfer to bring Travellers cheques.

Has anyone had problems cashing Travellers cheques out? What's the process, fees and is it easy to do this for CAD to TWD? At worst, If I have any problems in Taichung, I will make a trip to Taipei to cash out the cheques.

[AQUA MARINA]

Anyone compare or know the cheapest bank to purchase Travellers cheques?

Mine charges $12.58 of any dinomination per order.

[markholmes]

$5 at Vancity credit union, for any size of order.

[AQUA MARINA]

[markholmes]

I take it you have all the paperwork for the travellers cheques (copies of numbers, etc). Why don't you Fedex them to someone in Canada and have them pay the cheques into your bank account?

[AQUA MARINA]

I dealt with the Fed Ex people, they are a pain in the *ss. If I were to mail it to someone back home, they would have to be home to receive and sign for the package and I worry if they get lost in the mail.

I want to try and sort it out directly overhere if possible. I don't want to trouble anyone over there since they are super busy.