New Banknote Japan Yen Must-Read Guide: Revealing the Costs of 4 Methods, Which One Truly Saves the Most?

NTD depreciation, JPY appreciation, the number of people exchanging for Japanese yen by the end of 2025 will surge. But do you know? Choosing the wrong channel when exchanging 50,000 NT dollars could cost you an extra 2,000 yuan—equivalent to a month’s coffee money.

Today, we won’t beat around the bush. Let’s use actual exchange rates to show you: at banks, online apps, foreign currency ATMs, airport reservations—what’s the most cost-effective, and when is the right time to act.

Four Ways to Exchange for New Yen, Cost Differences Are Huge

Method ①: Bank Counter Exchange for New Notes (Most traditional but most expensive)

Bring NT cash directly to a bank or airport counter to exchange for new yen notes on the spot. It sounds safest, but in reality, it’s the highest-cost option.

The key issue is the “cash selling exchange rate.” Banks do not offer the best international market rates; instead, they add a markup based on the cost of cash settlement—usually 1-2% worse than the spot rate. For example, Taiwan Bank’s rate on December 10, 2025, is about 0.2060 NT$/JPY, meaning 1 NT$ can only buy about 4.85 yen.

Some banks also charge handling fees (e.g., E.SUN Bank 100 NT$/transaction, Cathay United Bank 200 NT$/transaction), which are deducted directly from your NT$.

Actual cost: exchanging 50,000 NT$ for yen results in a loss of 1,500–2,000 NT$.

When to use? Only in two cases: urgent airport needs or when you completely don’t understand online operations.

Quick reference for new yen cash exchange rates (2025/12/10):

• Taiwan Bank: 0.2060/JPY (free)
• Mega Bank: 0.2062/JPY (free)
• CTBC Bank: 0.2065/JPY (free)
• E.SUN Bank: 0.2067/JPY (+100 NT$/transaction)
• Taipei Fubon Bank: 0.2069/JPY (+100 NT$/transaction)
• Cathay United Bank: 0.2063/JPY (+200 NT$/transaction)

Method ②: Online App Exchange, withdraw when needed (flexible but hidden fees)

Use bank apps or online banking to convert NT$ into yen and deposit into a foreign currency account. This uses the “spot sell rate”—the real-time international market price, about 1% cheaper than cash exchange rate.

But here’s the key: the yen in your account is virtual. If you want to withdraw physical new notes, the bank will charge a handling fee (converting from spot price to cash price, usually 100–300 NT$).

Advantages: can buy in installments, average cost over time. Disadvantages: need to open a foreign currency account first, process is slightly more complex.

Actual cost: exchanging 50,000 NT$ results in a loss of 500–1,000 NT$.

Who is it suitable for? Those with forex investment experience, planning to hold yen long-term. You can consider not withdrawing immediately after exchange, but transferring directly into yen fixed deposits (annual interest rate 1.5–1.8%) to earn interest.

Method ③: Online reservation for currency exchange, pick up new notes at the airport (smartest way before traveling abroad)

Fill in currency, amount, pickup branch, and date on the bank’s website. After completing the transfer online, bring ID and transaction notice to pick up at the counter. Taiwan Bank’s “Easy Purchase” and Mega Bank offer this service.

The magic of this method: no handling fee (Taiwan Bank only requires payment via TaiwanPay, even just 10 NT$), with about 0.5% better exchange rate, and you can reserve to pick up at Taoyuan Airport (14 Taiwan Bank branches, 2 open 24 hours).

Disadvantage: need to book 1–3 days in advance; pickup is limited to bank operating hours.

Actual cost: exchanging 50,000 NT$ results in a loss of 300–800 NT$.

Who is it suitable for? Travelers planning to go abroad, with flexible timing, wanting to pick up new notes directly at the airport.

Method ④: Foreign currency ATM withdrawal (fastest, but fewer locations)

Use a chip-enabled financial card to withdraw new yen notes from foreign currency ATMs, open 24/7. Deducts directly from NT$ account, cross-bank fee only 5 NT$—the lowest cost.

However, there are only about 200 foreign currency ATMs nationwide, mainly in urban areas, with fixed denominations (1000/5000/10000 yen). During peak times, new notes are often unavailable.

SinoPac Bank’s foreign currency ATMs allow a single withdrawal of up to 150,000 NT$, with no currency exchange fee. CTBC Bank limits single withdrawal to 120,000 NT$.

Actual cost: exchanging 50,000 NT$ results in a loss of 800–1,200 NT$.

Who is it suitable for? People who don’t have time to visit banks, need to exchange on the spot; or those living in big cities with convenient ATM access.

Actual Cost Comparison Table (based on 50,000 NT$)

Conclusion: If you have time to plan ahead, “online reservation + airport pickup” is the most cost-effective. If you think of it last minute, “foreign currency ATM” is the fastest.

Is it worthwhile to exchange for yen now? Let’s look at the numbers

As of December 10, 2025, the NT$ to JPY rate is about 4.85—meaning 1 NT$ can buy 4.85 yen.

Compared to the beginning of the year at 4.46, a 8.7% appreciation. If you had exchanged 50,000 NT$ at the start of the year (about 2.23 million yen), now you could get about 2.42 million yen—an extra 190,000 yen, essentially free profit.

But can you still enter now? The answer is yes, but in installments.

What’s next for the yen?

The US has entered a rate-cut cycle, but the Bank of Japan is on the verge of raising rates. Ueda and other hawkish officials recently sparked market expectations; the December 19 meeting is expected to raise rates to 0.75%—the highest in 30 years. Japanese government bond yields have hit a 17-year high of 1.93%.

Technically, USD/JPY has fallen from the high of 160 at the start of the year to 154.58 now. Short-term may oscillate around 155, but medium to long-term, it could break below 150.

Exchange advice:

• For travel: exchange in 2-3 installments to avoid rate fluctuation risk
• For investment: weekly small investments, time in the market
• For asset allocation: avoid all at once; risk of 2-5% fluctuation when closing arbitrage trades

After exchanging for new yen notes, don’t just leave them sitting

If you just keep the yen notes in your wallet, it’s a waste. Here are 4 common “follow-up options”:

1. Yen fixed deposit—earn steady interest Start from 10,000 yen, with annual interest rates of 1.5–1.8%. Open an FX account at E.SUN or Taiwan Bank, transfer online. 10,000 yen earns about 150–180 NT$ annually—small, but higher than NT$ deposits.

2. Yen insurance policy—medium-term locking in returns Cathay and Fubon life offer yen savings insurance with guaranteed interest rates of 2–3%, suitable for 3–5 year medium-term financial planning.

3. Yen ETFs—diversified growth options Yuanta 00675U, Cathay 00703 track yen-related indices. You can buy fractional shares via brokerage apps, suitable for regular investments. Management fee 0.4% annually, good for those who prefer less frequent trading.

4. Yen forex trading—professional way to catch volatility Trade USD/JPY or EUR/JPY directly on forex platforms like Mitrade, 24/7. Advantages: long and short positions, flexible leverage; disadvantages: high risk.

Quick FAQs

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

Cash rate is the bank’s quote for physical banknotes, settled immediately, easy to carry. But because banks bear the cost and risk of transporting cash, the rate is 1-2% worse than the international market. Spot rate is the forex market’s T+2 settlement price, closer to real-time international prices, but takes 2 working days to settle. In short: cash rate is convenient but expensive; spot rate is cheaper but slower.

Q: How much yen can I get with 10,000 NT$?

Using Taiwan Bank’s cash rate 0.2060, 10,000 NT$ can buy about 48,500 yen. Using spot rate 0.2063, about 48,700 yen—difference of 200 yen (roughly NT$40).

Q: What ID do I need to bring for in-person yen exchange?

ID card + passport. If under 20, need a parent present. For company transactions, bring business registration. Large amounts (over 100,000 NT$) may require source of funds declaration.

Q: Is there a limit for foreign currency ATM withdrawals?

Yes. After the new rules in 2025, many banks limit daily withdrawal to 100,000–150,000 NT$. E.SUN: single limit 50,000 notes (about 50 bills), daily 150,000 NT$; CTBC: single and daily limit 120,000 NT$; Taishin: 150,000 NT$. Consider spreading withdrawals or using your own bank card to avoid cross-bank fees.

Final reminder

Yen is no longer just pocket money for travel; it’s an asset with hedging and investment value.

Knowing how to choose the right exchange channel can save you 2,000 NT$; staggering your entries can spread risk; after exchange, investing in fixed deposits or ETFs allows you to earn interest while waiting.

Beginners are advised to start with “Taiwan Bank online reservation + airport pickup” or “foreign currency ATM.” After familiarization, try app-based dollar-cost averaging or forex trading. Not only is it more cost-effective for travel, but it also adds a layer of risk hedging amid global market fluctuations.

Ready to get new yen notes? Choose the right method and go now.