How to send money to Taiwan
Find out how to transfer money to Taiwan at the best rate with these 4 steps
1. Check if the New Taiwan dollar mid-market rate is at your advantage
Although the evolution of the exchange rate is unforseeable, it never hurts to monitor it to optimize how much the recipient will get. Track the evolution of the New Taiwan dollar mid-market and convert your money when the rate is at its highest level of the past days.
2. Go with the best deal by comparing the 8 available services.
There are 8 services to make money transfers to Taiwan, such as TransferWise, Western Union, MoneyGram, OFX, Xendpay. Sending money with the best money transfer provider from the more than 8 available options is the best way to save money.
3. Pick the best service for you
Do you need to send money to Taiwan with the best exchange rate and lowest fees, with the fastest provider or with the best rated provider?
You may also want to have a look at the pay-in and pay-out options. Most of the time you'll have money transfer services allowing you to send the money from your bank account, other providers will also allow you to pay with your credit and debit cards. On the other side of the transfer, choose if you need the amount in TWD to be transferred to your recipient's account or available for pick-up in cash at an agent location.
4. Sign up and get started wih your money transfer to Taiwan with the company you selected
The last step is to fill the sign-up form on the money transfer provider's homepage (you normally have to provide some ID documents to confirm your identity), and configure your transfer.