You’ll find that Mastercard and Visa are more popular in Taiwan than American Express, but you can still pay with your Amex card in some places or use an ATM. Despite that, Taiwan is still mostly dependent on cash. In some places, like family restaurants or small shops, you may not be able to pay with your credit card at all.
There are a few potential fees to watch out for when you’re paying with plastic:
Foreign transaction fees. A non-sterling fee of around 3% per transaction can apply, depending on your credit card. That’s £30 in fees for every £1,000 spent with your card.
Merchant currency conversion fees. Sometimes, a merchant will offer to take payment in pounds instead of in New Taiwan dollars. This is known as a dynamic currency conversion (DCC) and often comes with higher fees than if you paid in the local currency.
Cash advance fees. Your card issuer may charge a fee for cash advances (withdrawing cash using your credit card). Cash machine providers sometimes charge a fee too.
ATM fees. The provider of a cash machine may charge a fee if you withdraw cash using your card.
It’s also worth noting that when it comes to cash advances and non-sterling transactions, card issuers will often start charging interest on the day your account is debited, rather than the customary “up to 55 days interest-free” that applies when you clear your balance in full each month.
Here’s a section of a fairly typical T&Cs document showing the charges applicable when spending abroad:
How can I avoid the fees?
Consider taking out a credit card offering commission-free currency conversion (see table below), even if you only use it when you’re out of the country. Once you have one of these cards, if a merchant offers to take payment in pounds, say you’re happy to pay in New Taiwan dollars, since you know your own bank won’t charge you for the privilege.
Generally speaking it’s not a great idea to use a credit card to withdraw cash, but some travel credit cards won’t penalise you for this either. Finally, make sure to check whether the ATM you use is going to charge a fee. Bank ATMs are generally a safer bet than those in convenience stores or bars.
Compare cards with fee-free currency conversion in Taiwan
Table: sorted by representative APR, promoted deals first
American Express cards are accepted in Taiwan, but not as much as Visa and Mastercard are. If you want to withdraw cash with your Amex card, look for Chinatrust Commercial Bank ATMs.
Chip-and-PIN credit cards
You shouldn’t have any problem if you have a chip-and-PIN card. Just make sure the logo of your card matches the logo on the ATM or POS terminal.
Is it safe to use my credit card in Taiwan?
Yes, it’s safe to use your credit card in Taiwan. But for added security, consider the following precautions:
Use an ATM within a bank. This is particularly useful if for some reason the ATM holds your card. You’ll be able to quickly get it back with assistance from one of the branch employees. ATMs within a bank are also less likely to be tampered with.
Take two credit cards. You may lose your card or it may not work. By having a back-up card, you won’t be left without money.
Keep your card in sight. Although rare, card cloning can happen in Taiwan. To avoid this, make sure you keep your card in sight.
Do taxis in Taiwan accept credit cards?
In general, they don’t. But if you want to pay for your ride with a credit card, you can use Uber. Typically, Uber is less expensive than a regular taxi in Taiwan anyway.
How to prepare before traveling to Taiwan
Get a credit card without foreign transaction fees. Most travel cards have no fees when used outside of the UK.
Opt for Mastercard or Visa. They’re universally accepted, while American Express is less popular in Taiwan.
Get a back-up card. If something happens to your primary card, you’ll have another card to help you out.
Get some cash. If you need to use an ATM to withdraw cash, opt for one at the airport or in the city. ATMs in Taiwan have favourable exchange rates and usually have no additional fees.
Inform your bank you’re travelling to Taiwan. If you don’t, your bank may consider your foreign transactions to be fraudulent and block your card. When you’re scheduling your trip, you can ask your bank if it has partner banks in Taiwan as well.
Get your bank’s phone number. If you lose your card or have any other card-related issues, you’ll know who to call.
Credit cards aren’t as widely accepted in Taiwan as in other places, but they’re safe to use and you shouldn’t have a problem paying where credit cards are accepted. Your only issues might be the foreign transaction fees and DCC, but with the right credit card and by declining DCC when offered, you can save some money.
Taiwan’s currency is the New Taiwan dollar and has the currency code TWD and NT$ symbol. If you use an ATM, you’ll get banknotes of 100, 200, 500, 1,000 or 2,000. It should be noted that the banknotes of 200 and 2,000 are rarely used.
Historical rate chart of GBP and TWD
Updated: 19 Apr 2021 15:10:08 UTC
The largest banks in Taiwan are:
Bank of Taiwan
Hua Nan Com Bank
Taiwan Cooperative Bank
International banks that operate in Taiwan include:
It can be useful if your bank has partnerships with any of these banks. If it does, you could avoid paying fees on ATM cash withdrawals.
Chris Lilly is a publisher at finder.com. He's a specialist in credit-based products including business and personal loans, mortgages and credit cards, and is passionate about helping UK consumers make informed decisions about their borrowing. In his spare time Chris likes forcing his kids to exercise more.
How likely would you be to recommend finder to a friend or colleague?
Very UnlikelyExtremely Likely
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.