How to get the cheapest Japanese Yen exchange? Calculate the costs of 4 major channels in one article

The NT$ to JPY exchange rate has already surpassed 4.85, and more people are considering traveling abroad or investing in yen recently. But do you know? Using the same NT$50,000, choosing different channels can result in a nearly thousand-dollar difference. Today, we’ll break down the cheapest ways to exchange NT$ to yen in Taiwan.

Is it worth exchanging yen now? First, look at the exchange rate trend

As of December 10, 2025, the NT$ to yen rate is about 4.85, up 8.7% from 4.46 at the beginning of the year. What does this mean? If you exchanged yen at the start of the year, selling now could earn you an 8.7% foreign exchange profit. Plus, with the Bank of Japan about to raise interest rates to 0.75% (a 30-year high), the yen’s appeal as one of the world’s three major safe-haven currencies has significantly increased.

But the real key to exchanging yen isn’t “when,” but “through which channel.” Because bank counter selling rates may be 1-2% worse than online exchange rates, exchanging NT$50,000 at a bank counter could cost you an extra NT$1,500. That amount could buy you 50 cups of coffee in Tokyo.

How to get the cheapest yen? Comparing four channels’ costs

Method 1: Bank counter, most convenient but most expensive

Bring cash NT$ to a bank or airport to exchange for yen notes. The operation is simple, but it uses the “cash selling rate,” which is about 1-2% worse than the market spot rate. Some banks also charge handling fees, making this the most costly option overall.

For example, Taiwan Bank’s cash selling rate on December 10, 2025, is about 0.2060 (meaning NT$1 = 4.85 yen). E.Sun Bank and Taipei Fubon Bank add NT$100-200 per transaction.

Estimated cost for exchanging NT$50,000: losing NT$1,500-2,000.

Suitable for: Those unfamiliar with online operations, urgent airport needs, or amounts under NT$10,000.

Method 2: Online exchange + cash withdrawal at branch, most flexible

Use bank app or online banking to convert NT$ into yen and deposit into a foreign currency account (using the spot rate, about 1% better than cash selling). Then, go to a branch or foreign currency ATM to withdraw cash.

Advantages include 24-hour operation and the ability to buy in installments at low points (when NT$ to yen is below 4.80), averaging the cost. Withdrawal incurs a foreign exchange fee (from NT$100), but overall costs are lower than in-branch.

Also, if you don’t need cash immediately, yen can stay in the account earning interest (current annual rate about 1.6-1.8%).

Estimated cost for exchanging NT$50,000: losing NT$500-1,000.

Suitable for: Investors experienced with foreign exchange accounts, wanting to observe rates and buy in installments.

Method 3: Online exchange + airport pickup, the most cost-effective

This is currently the cheapest way to exchange yen. Book via Taiwan Bank’s official website “Easy Purchase,” fill in the amount, pickup branch, and date. After approval, go to the branch or airport with the notification to pick up. The exchange rate is 0.5% better, and paying with Taiwan Pay costs only NT$10 in handling fees, other payment methods are free.

For NT$50,000, you save NT$1,200-1,500 compared to in-branch. Taoyuan Airport has 14 Taiwan Bank counters (2 open 24 hours), making it especially convenient before departure.

Estimated cost for exchanging NT$50,000: losing NT$300-800.

Suitable for: Well-planned travelers, those preparing for a trip, wanting the best exchange rate.

Method 4: Foreign currency ATM, fastest temporary solution

Use a chip-enabled financial card at a foreign currency ATM to withdraw yen notes directly. Open 24 hours, with a single transaction fee of NT$5 for interbank withdrawals. E.Sun Bank’s daily withdrawal limit is NT$150,000 (equivalent), with no currency exchange fee.

However, the downside is limited ATM locations (about 200 nationwide), and during peak times (like airports), cash may run out. Also, only three denominations are available: 1,000, 5,000, and 10,000 yen.

Estimated cost for exchanging NT$50,000: losing NT$800-1,200.

Suitable for: Those who don’t have time to visit banks, need quick cash, or for smaller amounts.

Cost comparison table of the four methods

Conclusion: For budgets of NT$50,000-200,000, the most recommended is “Online exchange + airport pickup”; next is “Online exchange + installment buying.” It’s generally not advisable to exchange all at once in-branch unless the amount is under NT$10,000 or just for airport emergency.

After exchanging yen, don’t just leave it idle—4 ways to add value

Once you have yen, don’t let it gather dust. Depending on your risk appetite, here are four options:

1. Yen fixed deposit (capital-preserving) Open a foreign currency account at E.Sun or Taiwan Bank, with a minimum deposit of 10,000 yen, annual interest rate 1.6-1.8%. Depositing 50,000 yen for a year earns about 800 yen (~NT$160). Stable but limited returns.

2. Yen insurance policy (mid-term) Cathay or Fubon life’s USD/yen savings insurance, with guaranteed interest rates of 2-3%, usually 5-year plans, suitable for mid-term capital allocation.

3. Yen ETF (growth) Yuanta 00675U tracks the yen index, with a management fee of 0.4%. You can buy fractional shares via broker apps, suitable for dollar-cost averaging. This allows participation in yen appreciation while avoiding individual rate fluctuations.

4. Forex trading (swing trading) Trade USD/JPY or EUR/JPY directly on platforms like Mitrade, with 24-hour trading, no commission, low spreads. Suitable for experienced traders. High risk, high reward.

The BOJ rate hike is bullish for the yen, but global arbitrage unwinding may cause volatility. Diversification is key—don’t go all-in on a single asset.

5 FAQs before exchanging yen

Q1: What’s the difference between cash rate and spot rate? Cash rate is the rate banks offer for physical cash (notes), usually 1-2% worse than the market rate. Spot rate is the interbank settlement rate used for electronic transfers, more favorable but takes T+2 days. In short, if you want cash immediately, you pay a premium; if you want to save money, wait two days.

Q2: How much yen can I get with NT$10,000? Using the formula: Yen amount = NT$ amount × current rate. For example, on December 10, Taiwan Bank’s cash selling rate is 4.85, so NT$10,000 ≈ 48,500 yen; at spot rate 4.87, about 48,700 yen—difference of 200 yen (~NT$40).

Q3: What do I need to bring for in-branch exchange? ID card + passport; foreigners bring passport + residence permit. If online booked, also bring transaction notification. Under 20 needs parent’s consent and ID; over NT$100,000 requires source of funds declaration.

Q4: Are there withdrawal limits at foreign currency ATMs? Post-October 2025, most banks set daily limits of NT$100,000-150,000 (equivalent). Other banks depend on issuing bank rules, usually lower. To avoid cross-bank fees (NT$5 per transaction), consider using your own bank’s ATM or spreading withdrawals.

Q5: Is now a good time to exchange yen? In the short term, yen fluctuates around 154-155, with BOJ rate hikes imminent. Medium to long term, weak USD supports yen appreciation, possibly below 150. But currency movements are unpredictable; dollar-cost averaging remains the safest strategy.

Summary: How to get the cheapest yen in one sentence

Yen is no longer just for travel “pocket money,” but an asset with hedging and investment value. Whether traveling or hedging Taiwan stocks, the key is “buy in installments + don’t leave it idle after buying,” to minimize costs.

The simplest route for beginners is “Taiwan Bank online exchange + airport pickup” or “foreign currency ATM,” then transfer yen into fixed deposits, ETFs, or forex trading—maximizing benefits. This way, you enjoy the best rates and add a layer of protection during global market volatility.