Looking for the best way to send money from the United Kingdom to family, friends or businesses in Taiwan (or even to your own overseas bank account)?
Don't head straight to your British bank – compare specialist money transfer services instead. They nearly always offer better TWD exchange rates and lower fees, so for the same amount of pounds you send, your recipient will receive more New Taiwan dollars.
Of the companies we've compared, OFX is among the cheapest, with competitive exchange rates and fees starting from £0. Need a really fast transfer? CurrencyFair can get money to your recipient in Taiwan within minutes.
Please note: You should always refer to quotes you receive from transfer services themselves directly for exact amounts as they may vary from our estimates.
Bank transfers are typically the cheapest way to get your money to Taiwan. OFX and CurrencyFair have some of the lowest bank transfer fees of the brands we've compared.
When you're hunting down the cheapest ways to send money to Taiwan, it's more important to look at the overall cost of your transfer. This has a couple of elements:
Some providers may charge the mid-market rate but add fees on top. Others may have very low fees but apply a markup on the exchange rate. This means it is important to compare exactly how many New Taiwan dollars your recipient will end up with.
Many online providers can offer transfers to Taiwan within minutes, although you're likely to pay a premium for the convenience.Here are some of the fastest average transfer speeds to Taiwan:
Actual transfer times from the United Kingdom to Taiwan can depend on several different factors including transfer amount, payment method and currency.
The safest way to get your money to Taiwan is to use a provider registered with the United Kingdom's industry regulator, the Financial Conduct Authority (FCA). All of the companies we've compared in our table are overseen by a local regulator and comply with the relevant laws and regulations in both the United Kingdom and Taiwan.
A great way to dive deeper is by reading our extended reviews of each transfer service and researching first-hand customer feedback on Trustpilot and similar platforms.
If you need to make a sizable money transfer to Taiwan, consider using a provider such as Wise (TransferWise) or TorFX to benefit from its expertise in handling larger transfer amounts.Using a large transfer specialist can have the following advantages:
To send money to Taiwan, you'll need the necessary documentation, your recipient's details and a way to pay.
Ethan is working in the United Kingdom as a doctor and he stays in regular contact with his elderly parents back home in Taiwan. His parents need some funds to help pay off a mortgage, so Ethan plans to send them £2,000 from the United Kingdom.
He decides to compare a bank and a money transfer specialist to see which one can save the most money on his transaction.
|Money transfer company
|1 GBP = 39.31 TWD
|1 GBP = 39.83 TWD
|Bank account deposit
|Bank account deposit
|2 - 5 working days
The money transfer company enables Ethan to send an extra NT$1,334.36, which is transferred straight to his parents' Bank of China account.
When choosing a money transfer provider to send money from the United Kingdom to Taiwan, it's important to consider the cost, how you want your recipient to receive the funds and the turnaround time. Here are other features to review:
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