Money & Payments in Taipei (2026)

Good to know

Good to Know

Keep cash on hand for night markets, street food, and small independent shops even in Taipei, despite good card infrastructure.
When asked at ATMs about currency conversion (DCC), always select 'Decline' to charge in TWD for the best exchange rate.
Service charges are sometimes automatically added to restaurant bills (typically 10-15% at upscale restaurants)—check your receipt to avoid double-tipping.
Tipping is not part of Taiwanese culture and can feel unnecessary or awkward to locals; it is never mandatory.
EasyCard is a one-time purchase that pays for itself quickly via convenience store discounts and eliminates the need to carry coins for metro fares.
Consider multi-currency travel cards (Wise, Revolut) to minimize ATM and exchange fees on foreign withdrawals.

Required Documents

Additional: Minimum deposit of approximately 1,000 TWD (varies by bank)

Mandatory

ARC or Taiwan ID (passport if no ARC)
Proof of residential address (utility bill, rental contract)
Local phone number (Taiwan SIM required)
Personal stamp/seal (chop) or signature

Account Opening Process

Duration: 1–2 hours for account opening and setup
Best Practice: Visit main branches; avoid Monday mornings and month-end dates

Steps

Choose main branch (分行) in city center
Complete account opening forms (Chinese, staff assists at foreigner-friendly branches)
Present ARC, passport, and required documents
Verification and photocopying (20–30 minutes)
Set up online and mobile banking at same time

ATM Fees

Fee Avoidance Tip: Use travel-optimized cards (Charles Schwab, Fidelity, Wise, Revolut) that reimburse or eliminate ATM fees.
Dynamic Currency Conversion: When ATMs ask to accept or decline conversion (DCC), always choose 'Decline' or 'Charge in TWD' to avoid poor exchange rates and extra fees.

Home Bank Fees

Typical Range Percent: 1-3% foreign transaction fee
Plus: flat ATM fees on most home cards

Tipping Norms

Taxis: Rounding up the fare or leaving small change is a nice gesture, especially if the driver assists with bags, but not required.
Night Markets: No tipping expected; vendors may appreciate a compliment or small gesture of kindness.
Bars Nightclubs: Table service with bottle orders may include a 10% service charge automatically. No tipping at bar for cocktails.
General Culture: Tipping is not customary or expected in Taiwan. Service is considered a professional obligation, not a transaction expecting reward.
Tour Guides Drivers: If tipping extended service (full day tour), 5-10% of tour cost is appreciated but not expected.

Hotels

General Rule: Not necessary to tip.
Housekeeping: Not expected, but 100 TWD per night may be left for exceptional service.
Porter Bellhop: 50-100 TWD per bag appreciated but not expected.
Placement Note: If leaving cash, place it visibly (e.g., on pillow) to avoid staff thinking you forgot money.

Restaurants

Local Eateries: Tipping is not expected. The menu price is the final price.
Optional Gratuity: If exceptional service is provided at high-end establishments, leaving 10% is appreciated but not required.
High End Restaurants: Some upscale restaurants may include a 10% service charge on the bill automatically. Check your receipt—if a service charge is added, no additional tip is necessary.

ATM Information

Availability: ATMs are abundant, especially in 7-Eleven and FamilyMart convenience stores, which operate 24/7. Also found in banks, metro stations, shopping malls, and airports.
English Support: ATMs offer English menus.

Cards Accepted

Widely Accepted

Visa
Mastercard
Cirrus
Maestro
Plus

Less Commonly Accepted

American Express
Diners
Discover

Recommended Banks

Bank of Taiwan
Taiwan Cooperative Bank (reported no ATM fees for international cards by some users)
Taipei Fubon Bank
CTBC Bank
E.Sun Bank
Mega Bank

Card Acceptance

Easycard Ipass: A contactless smart card (EasyCard or iPASS) can be purchased and loaded with cash at metro stations and convenience stores. Works for public transport, convenience stores, and select merchants.
Qr Code Payments: QR-code payments are common in convenience stores and chain restaurants but not universal at night markets.
General Acceptance: Credit cards (Visa, Mastercard, JCB) are widely accepted at major retailers, hotels, and restaurants in Taipei. However, cash remains important for small eateries, street vendors, and night markets.
Acceptance Limitations: Smaller establishments, local eateries, and night market stalls often prefer or require cash only.

Digital Payments

Coverage Note: Mobile pay coverage is strong in Taipei and other major cities but thins out in rural areas.

Local Platforms

JKO Pay (街口支付)
Line Pay

Mobile Wallets Widely Accepted

Apple Pay
Google Pay

International Cards Accepted

Visa
Mastercard
JCB
American Express

Online Banking

Availability: Widely supported at major banks
Note: Often requires phone verification; interface is primarily Chinese; English support varies by bank

Account Opening

Requirement Primary: Alien Resident Certificate (ARC)
Alternative Without Arc: Chunghwa Post allows basic savings accounts using Record of ID No. for non-ARC holders; limitations include no online banking, low transaction caps, no debit card

Stamp Chop Cost

Stamp Chop Cost: NT$100
Available at any locksmith shop; often required by most banks

ATM Availability

ATMs widely available, operate 24/7; most support English menus and accept foreign credit/debit cards (fees apply for non-affiliated banks)

International Transfers

Cost Range: NT$600
Recommendation: Consider Wise or similar services for cheaper international wires
Cost Range High: NT$1,000

Banks With Foreigner Support

Designated One Stop Service: CTBC Commercial Bank, E.Sun Commercial Bank, Taipei Fubon Commercial Bank, Taishin International Bank, Mega International Commercial Bank, First Commercial Bank
Note: As of June 2026, Taiwan launched one-stop banking initiative with 17 designated branches offering streamlined account opening, credit card applications, wire transfers, and multi-currency services in a single visit

AI-generated estimateData refreshed July 2026

Sources cited for this category

These are the sources cited in this money & payments research for this city. Individual figures may not each trace to one of them.

More About Taipei

Data last updated July 2026 · Verify anything important.

Money & Payments in Taipei