Recommendation for good GBP Foreign Currency Account in Taiwan      

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@Akzo wrote:

Hi. Does anyone have any any recommendations for a good GBP Foreign Currency Account in Taiwan? It’ll be used to pay for expenses for the Taiwan Rep Office of my UK company. I’ll be doing a one-off transfer into it from the UK company’s bank account at the beginning of each year and then moving a small amount (around 50k NTD) every month into an NTD account, to then pay rent and transfer to my personal Taiwanese bank account as a basic salary etc.

A few related questions:

  1. Does it cost to open a company bank account or foreign currency account in Taiwan?

  2. If you have a foreign currency account and an NTD account with Bank A and just an NTD account with Bank B, when you transfer money from your foreign currency account into NTD, is it always cheaper to transfer it to Bank A’s NTD account or could it possibly be cheaper to transfer it to Bank B instead? In other words, is intra-bank currency conversion always cheaper than inter-bank in Taiwan?

  3. What sort of fees and rates do you get when you transfer between GBP and NTD here, either intra-bank or inter-bank?

Thank you!

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