NTD to JPY exchange, save thousands of dollars: 4 practical methods comparison

The Taiwanese dollar depreciates, the Japanese yen appreciates. By December 2025, the TWD/JPY exchange rate has reached 4.85, a cumulative appreciation of 8.7% compared to the beginning of the year at 4.46. Airfare, hotel, and drugstore prices continue to rise, but the cost of currency exchange determines your travel budget. The question is: with the same 50,000 TWD, exchanging at the bank, withdrawing via ATM, or online remittance, the costs differ by as much as 1,500 yuan—what can you buy in Japan with that amount?

To avoid being eaten up by exchange rate spreads, you need to understand the logic behind these four currency exchange methods.

Why is it worth exchanging for JPY? It’s not just about travel

Many people think of the Japanese yen as “pocket money for going abroad.” In fact, the value of the yen extends far beyond travel needs.

In everyday life in Japan, department stores in Tokyo, shopping districts in Osaka, and ski resorts in Hokkaido mostly still accept cash only, with credit card penetration at just 60%. For those who love Japanese drugstore products or anime merchandise, they need to prepare Japanese bills to order directly from Japanese websites. But the real opportunity lies in finance—the yen is one of the world’s three major safe-haven currencies (alongside USD and Swiss Franc). When Taiwan stocks fluctuate or geopolitical risks rise, the yen often appreciates against the dollar. During the Russia-Ukraine conflict in 2022, the yen appreciated 8% in one week, while the stock market fell 10%, demonstrating its asset-protection power.

For Taiwanese investors, exchanging for yen is not just for consumption but also a form of asset allocation.

Is now a good time to exchange? Timing analysis

By December 2025, the yen is at a critical exchange rate window.

The Bank of Japan (BOJ) is about to raise interest rates by 0.25 basis points to 0.75% at the December 19 meeting—its highest in 30 years—this is the first signal. Meanwhile, Japanese government bond yields have hit a 17-year high of 1.93%. The USD/JPY rate has fallen from a high of 160 at the start of the year to around 154.58. Simply put: the yen is starting to become more valuable.

In the short term, the market expects the US to enter a rate-cut cycle, which supports the yen; in the medium to long term, the US-Japan interest rate differential is narrowing (shrinking from 4.0% at the start of the year), and arbitrage trades may close, leading to increased volatility in the yen. But this also presents opportunities—gradually entering the market can average out costs and avoid a one-time full exchange.

Conclusion: Now is a good time to exchange yen, but you must choose the right method.

Full analysis of four major currency exchange options: cost differences exceed 1,500 yuan

Option 1: Bank counter exchange = the most expensive choice

Walking into a bank to exchange cash TWD for Japanese yen seems safest, but it’s actually the most costly. Banks use the “cash selling rate” (1-2% worse than the spot rate), plus possible handling fees, which could result in a loss of 1,500-2,000 TWD on 50,000 TWD.

For example, Taiwan Bank’s cash selling rate is 0.2060 TWD/JPY, meaning 1 TWD exchanges for only 4.85 JPY. Chinatrust Bank’s rate is even lower at 0.2065, plus handling fees, making it more expensive. E.SUN Bank’s rate is slightly better at 0.2058, but they charge a 100 TWD fee per transaction, which still isn’t cost-effective.

Suitable scenarios: Urgent airport cash needs, small amounts under 10,000 TWD, or elderly people distrustful of online methods.

Option 2: Online remittance + in-person withdrawal = a middle ground

Using bank apps or online banking, with “spot selling rate” (about 1% better than cash rate), transfer TWD into JPY into a foreign currency account. Exchanging 50,000 TWD this way can save 500-1,000 TWD compared to counter exchange. But when withdrawing Japanese bills, you’ll still pay a withdrawal fee at the counter (about 100-200 TWD), depending on the bank.

E.SUN Bank offers this service, with a minimum opening of 10,000 JPY in a foreign currency account. You can enter the market gradually to average the exchange rate. The prerequisite is having a foreign currency account, which takes 1-2 days to open.

Suitable scenarios: Investors with foreign exchange experience, planning to buy yen in installments, or hold yen for fixed deposits or ETFs.

Option 3: Online remittance + airport pickup = the best pre-trip choice

This is currently the smartest approach. Taiwan Bank’s “Easy Purchase” online remittance offers about 0.5% exchange rate advantage, and paying via Taiwan Pay costs only 10 TWD, sometimes with no handling fee. The key is—you can reserve pickup at the airport branch.

Taoyuan Airport has 14 Taiwan Bank outlets (including 2 open 24 hours), meaning you can pre-arrange online a few days before departure and pick up Japanese bills directly at the airport before boarding, saving the trouble of visiting the bank. Using this method on 50,000 TWD results in only a 300-800 TWD loss, making it the lowest-cost cash exchange option currently.

Suitable scenarios: Planned travelers, those wanting cash directly at the airport, or prioritizing convenience.

Option 4: Foreign currency ATM = the most flexible but least common

Using a chip-enabled bank card at a foreign currency ATM to withdraw yen, supporting 24-hour service, with cross-bank withdrawal fees of only 5 TWD (deducted directly from TWD account). E.SUN’s foreign currency ATMs support JPY with a daily limit of 150,000 TWD, with no exchange fee.

Sounds good, but the problem is—there are only about 200 such ATMs nationwide, and many people can’t find one. Plus, due to limited machine stock, cash often runs out during peak times (especially at airports and shopping districts). Additionally, Japan will update ATM withdrawal services by the end of 2025 to accept only international cards (Mastercard/Cirrus).

Using 50,000 TWD this way could cost 800-1,200 TWD in losses, with unclear advantages unless you live near a foreign currency ATM.

Suitable scenarios: No time to visit the bank, need emergency cash, or require 24-hour access.

Comparison table of the four currency exchange options

Beginner tip: If your budget is only 50,000-200,000 TWD, “Taiwan Bank online remittance + airport pickup” is the most cost-effective and convenient.

After exchanging for yen, don’t let your money sit idle

Once you successfully get Japanese bills, should you keep them in your wallet or make them grow?

JPY fixed deposits are the safest choice. Opening a foreign currency account with E.SUN or Taiwan Bank is free, with a minimum deposit of 10,000 JPY, and an annual interest rate of 1.5-1.8%, providing a fixed return. Depositing 100,000 JPY for a year yields interest of 1,500-1,800 JPY (about 300-360 TWD).

JPY ETFs (like Yuanta 00675U, 0075U) track the yen index and can be bought as fractional shares via brokerage apps, suitable for those wanting to participate in yen appreciation while diversifying risk. Management fees are only 0.4%, better than fixed deposits.

JPY forex trading is an advanced option. Trading USD/JPY or EUR/JPY on platforms like Mitrade, with zero commissions, low spreads, and 24-hour trading, allows stop-loss, take-profit, and trailing stop tools. But it carries high risk and is suitable for experienced traders.

Core principle: While the yen is a strong hedge, it also fluctuates bidirectionally. Rate hikes, arbitrage closing, or geopolitical conflicts all influence the exchange rate. Diversification (fixed deposits + ETFs + trading) is the smart approach.

Quick answers to common questions

Q: What’s the difference between cash exchange rate and spot rate?
Cash rate is the bank’s buy/sell rate for physical bills and coins, usually 1-2% worse than the spot rate, with the advantage of immediate cash; spot rate is the standard forex market rate (T+2 settlement), only for electronic transfers but more favorable.

Q: How much yen can I get with 10,000 TWD?
Using the spot rate of 4.87, about 48,700 JPY; with cash rate of 4.85, about 48,500 JPY—roughly 200 JPY less (about 40 TWD).

Q: What do I need to bring for currency exchange?
Counter exchange requires ID + passport. Online reservation needs transaction confirmation. Under 20 years old requires a parent’s accompaniment; amounts over 100,000 TWD may require source of funds declaration.

Q: What’s the daily limit for foreign currency ATM withdrawals?
From October 2025, most banks set a limit of 100,000-150,000 TWD per day. E.SUN cards are better than cross-bank cards (which charge 5 TWD per transaction). During peak times, cash may run out; plan ahead.

Final advice

The yen has evolved into an asset that combines travel, investment, and hedging functions. Whether you plan to visit Japan next year or want an extra layer of protection during Taiwan stock fluctuations, the key is—exchange gradually, transfer into fixed deposits or ETFs, and let your idle funds grow.

Start with “Taiwan Bank online remittance + airport pickup,” then adjust based on exchange rate trends and personal needs. This way, you can save on thousands of dollars in fees and gain peace of mind amid global market turbulence.