How to get the most savings when exchanging 50,000 TWD to JPY? Online banking exchange vs in-branch vs ATM real-world comparison

Is it cost-effective to exchange for Japanese Yen now?

As of December 10, 2025, the TWD to JPY exchange rate is about 4.85. Compared to 4.46 at the beginning of the year, the Yen has appreciated by 8.7%, making the exchange gain quite substantial. Especially under the pressure of TWD depreciation, the Yen, as one of the three major safe-haven currencies (along with USD and CHF), is seeing increased demand for investment and travel.

But “cost-effective” depends on choosing the right currency exchange method. The same 50,000 TWD can have a difference of over 1,500 TWD depending on the channel used.

Why exchange for Yen? Not just for travel

Travel and daily expenses

Shopping in Japan, skiing, vacations—most places still only accept cash (credit card penetration is only 60%). Purchasing Japanese cosmetics, clothing, anime merchandise often requires direct payment in Yen.

Financial hedging properties

The Yen has maintained a low long-term interest rate (only 0.5%), but due to Japan’s stable economy and low debt, it’s become a safe-haven asset. During the Russia-Ukraine conflict in 2022, the Yen appreciated by 8% in a week, perfectly offsetting stock market declines. For Taiwanese investors, exchanging for Yen is like buying insurance against Taiwan stock market volatility.

Meanwhile, the Bank of Japan Governor Ueda Kazuo’s hawkish comments have heated up, with market expectations that the December 19 meeting will raise interest rates to 0.75% (a 30-year high), and Japanese government bond yields have hit a 17-year high of 1.93%. This further enhances the Yen’s safe-haven appeal.

The real costs of 4 currency exchange methods (using 50,000 TWD as an example)

1. On-site cash exchange: the most traditional, highest cost

Bring TWD directly to a bank or airport counter to exchange for Yen cash. Using the “cash selling rate” (1-2% worse than the spot rate), this method usually incurs the highest cost.

Cost breakdown:

• Taiwan Bank cash selling rate: 1 Yen ≈ 0.2060 TWD (i.e., 1 TWD ≈ 4.85 Yen)
• 50,000 TWD ≈ 242,718 Yen
• Some banks charge an additional 100-200 TWD handling fee
• Estimated loss: 1,500-2,000 TWD

Advantages: Safe, reliable, denominations available (1,000, 5,000, 10,000 Yen), staff assistance
Disadvantages: Worst exchange rate, limited operating hours (Weekdays 9:00-15:30)
Suitable for: Urgent airport needs, unfamiliar with online methods

2. Online banking exchange + cash pickup: a balanced approach

Use online banking or mobile app to convert TWD to Yen and deposit into a foreign currency account, enjoying the “spot selling rate” (about 1% discount). If cash is needed, pick it up at the counter or withdraw via foreign currency ATM.

Cost breakdown:

• E.SUN Bank spot selling rate: about 4.87 (0.2% better than cash rate)
• 50,000 TWD ≈ 244,560 Yen
• Cash withdrawal fee at counter: from 100 TWD
• Estimated loss: 500-1,000 TWD

Advantages: 24-hour operation, can buy in installments for average cost, favorable exchange rate
Disadvantages: Need to open a foreign currency account first, withdrawal fees apply
Suitable for: Investors with forex experience, wanting to buy in stages at lower prices

Currently, Yen savings accounts offer annual interest rates of about 1.5-1.8%. After exchange, transferring into a fixed deposit can also generate steady returns.

3. Online currency exchange: the best option before traveling

No need for a foreign currency account. Just fill in the amount, pick-up branch, and date on the bank’s website. After completion, bring ID and transaction notification to the counter for pickup. Taiwan Bank’s “Easy Purchase” and Mega Bank support this service, with appointment options at the airport branches.

Cost breakdown:

• Taiwan Bank offers about 0.5% better exchange rate
• 50,000 TWD ≈ 243,860 Yen
• Most fees are free (pay via Taiwan Bank Pay for only 10 TWD)
• Estimated loss: 300-800 TWD

Advantages: Best exchange rate, often no handling fee, can specify airport pickup (Taoyuan Airport has 14 Taiwan Bank locations)
Disadvantages: Need to book 1-3 days in advance, pickup during bank hours only
Suitable for: Planned travelers who want to pick up cash directly at the airport

This is the top choice before departure, especially with 24-hour airport branches.

4. Foreign currency ATM: the most flexible, least common

Use chip-enabled financial cards to withdraw Yen cash from foreign currency ATMs outside banks. Supports 24/7 operation and interbank withdrawals (only 5 TWD fee from TWD accounts). However, the number of ATMs is limited (~200 nationwide).

Cost breakdown:

• E.SUN Bank foreign currency ATM withdrawal from TWD account: no exchange fee
• Interbank fee: 5 TWD per transaction
• Daily withdrawal limit: equivalent to 150,000 TWD
• 50,000 TWD ≈ 242,900 Yen
• Estimated loss: 800-1,200 TWD

Advantages: Instant withdrawal, 24/7 availability, lowest interbank fee
Disadvantages: Limited locations, fixed denominations (1,000, 5,000, 10,000 Yen), cash may run out during peak times
Suitable for: People with no time for counter transactions, urgent needs

Note: Japan’s ATM international withdrawal services will be adjusted at the end of the year, switching to Mastercard/Cirrus cards.

Quick comparison table of the four methods

For small users (5-20 million TWD), the most cost-effective combo: First lock in favorable rates via online exchange, then supplement with foreign currency ATM if needed, minimizing total costs.

Advanced options after exchanging Yen

Don’t let Yen sit idle without earning interest. Choose one of these four options:

1. Yen Fixed Deposit
Most stable, open a foreign currency account with E.SUN or Taiwan Bank online. Minimum 10,000 Yen, annual interest 1.5-1.8%.

2. Yen Insurance Policy
Mid-term holding, with Cathay or Fubon savings insurance, offering guaranteed 2-3% interest.

3. Yen ETFs (00675U, 00703)
Growth-oriented, YUANTA 00675U tracks Yen index, can be bought as fractional shares via brokerage apps.

4. Forex Trading
Trade USD/JPY, EUR/JPY, etc., on forex platforms with swing trading, 24-hour bidirectional trading, starting with small capital.

FAQ

Q. What’s the difference between cash exchange rate and spot rate?

Cash rate applies to physical banknotes, exchanged on the spot, but banks add a risk premium, usually 1-2% worse than the spot rate.

Spot rate is the T+2 settlement price in the forex market, used for electronic transfers and import/export, close to international market prices, thus more favorable. Simply put: cash exchange costs more, account transfers save money.

Q. How much Yen can I get for 10,000 TWD?

Based on Taiwan Bank’s December 10, 2025 rate (cash selling 4.85), 10,000 TWD ≈ 48,500 Yen.

Using the spot rate (about 4.87), it’s about 48,700 Yen, a difference of roughly 200 Yen (about 40 TWD).

Q. What do I need to bring for on-site exchange?

Taiwanese: ID card + passport; foreigners: passport + residence permit. If pre-booked online (online exchange), also bring transaction notification.

Under 20? Need parent’s consent and ID. For large exchanges (over 100,000 TWD), may need to declare source of funds.

Q. What’s the limit for foreign currency ATM withdrawals?

From October 2025, several banks adjusted limits:

• CTBC Bank: 120,000 TWD/day for own card, 20,000 TWD/transaction for others
• Taishin Bank: 150,000 TWD/day for own card, depends on issuing bank for others
• E.SUN Bank: 50,000 TWD per transaction (up to 50 cards), 150,000 TWD/day

It’s recommended to split withdrawals or use your own bank card to avoid cross-bank fees (5 TWD per transaction). Plan ahead as cash may run out during peak times.

Summary

The Yen has evolved from a travel pocket money currency to an asset with hedging and investment value. By following the three principles—“choose the right exchange method + buy in stages + don’t leave it idle”—you can minimize costs.

Beginners should start with Taiwan Bank’s online exchange + airport pickup, then move into fixed deposits or ETFs as needed. This way, you can enjoy cost-effective travel and add a layer of protection during global market fluctuations. Don’t wait until the last minute—waiting will only cost more.