NTD to JPY exchange cost revealed: 4 major channels fee comparison, the cheapest saves 2000 yuan

December 10, 2025, the exchange rate of New Taiwan Dollar (NTD) to Japanese Yen (JPY) is approximately 4.85, meaning 1 NTD can be exchanged for 4.85 JPY. As travel to Japan regains popularity and demand for JPY as a safe haven increases, many are preparing to exchange currency. But did you know? Exchanging 50,000 NTD through the wrong channel could cost you over 1,500 yuan—money enough to enjoy several Michelin meals in Tokyo. We tested the real costs of four exchange methods to help you find the most cost-effective way.

Cost comparison of 4 JPY exchange methods

In Taiwan, there is more than one way to exchange JPY. According to the latest rates in 2025, the same 50,000 NTD can yield vastly different amounts of JPY depending on the channel used. Here is our sorted list of costs:

Key finding: Combining online currency settlement with airport pickup can save you over 1,200 NTD—equivalent to a 2.4% cashback on your original budget. Compared to counter cash exchange, this can save enough to buy 2-3 bubble teas in one go.

Detailed breakdown of four channels

Option 1: Bank counter cash exchange (most traditional but most expensive)

Bring cash in NTD directly to a bank branch or airport counter to exchange for JPY bills. While seemingly simple, this method incurs the highest costs—banks use “cash selling rates,” which are 1-2% worse than the market spot rate.

Rates as of December 10, 2025 (cash selling rate, 1 JPY / NTD):

When to choose: Only for emergency at the airport, unfamiliar with online methods, or for special denominations. Small exchanges of 50,000-100,000 NTD are acceptable; over 200,000 NTD is definitely not cost-effective.

Hidden costs: Some banks charge an additional fixed handling fee of 100-200 NTD, which can account for 10-15% of the cost.

Option 2: Online bank exchange + counter cash pickup

Log into your bank app or website, convert NTD to JPY and deposit into a foreign currency account, using the “spot sell rate” (about 1% better than cash rate). If you need physical cash, you can withdraw at a counter or foreign currency ATM, incurring a withdrawal fee starting at 100 NTD.

Example with E.SUN Bank:

• Online exchange rate (spot): about 0.2080 JPY/NTD
• Counter withdrawal fee: from 100 NTD
• Result: 50,000 NTD can be exchanged for about 242,000 JPY

Advantages:

• Available 24/7, monitor exchange rates, and buy in batches at low points
• Suitable when NTD/JPY is below 4.80
• After exchange, can directly invest in fixed deposits (annual interest 1.5-1.8%)

Limitations:

• Need to open a foreign currency account in advance
• Cross-bank withdrawal fees of 5-100 NTD
• Not suitable for one-time quick exchange

Option 3: Online currency settlement reservation (best before travel)

No need to open a foreign currency account. Fill in the amount, select pickup branch and date on the bank’s website, transfer funds, then pick up cash in person with ID and transaction notice. Taiwan Bank and Mega Bank offer this service, with 14 reservation points at Taoyuan Airport (including 2 24-hour locations).

Taiwan Bank “Easy Purchase” online exchange test:

• Handling fee: only 10 NTD via Taiwan Pay, free via other channels
• Better exchange rate: 0.5% better than counter
• 50,000 NTD yields about 244,200 JPY
• Advantages: high reservation success rate (99%), most convenient at the airport

Ideal scenario: Planned trips, want to avoid queues at the airport, and just pick up cash directly. The earlier you reserve (at least 1-3 days), the higher the limit.

Option 4: Foreign currency ATM withdrawal (most flexible)

Use a chip-enabled bank card to withdraw JPY cash from foreign currency ATMs, available 24/7. The system deducts directly from your NTD account (cross-bank fee 5 NTD), saving time on queues.

Yongfeng Bank foreign currency ATM specs:

• Single withdrawal limit: equivalent to 150,000 NTD
• Cross-bank fee: 5 NTD
• Denominations: fixed 1,000, 5,000, 10,000 JPY bills
• About 200 ATMs nationwide, mainly in Taipei, Taichung, Kaohsiung

Hidden risks:

• Cash may run out during peak times (especially at airports)
• Machine malfunctions occasionally occur
• Daily withdrawal limits mean multiple operations for large amounts

Best use: Emergency backup, combined with online exchange. If counter pickup is unavailable or limits are insufficient, ATM withdrawal is a quick fix.

Is now a good time to exchange JPY? Market trend analysis

Current situation: Since 2025, the TWD/JPY has appreciated by 8.7% (from 4.46 at the start of the year to 4.85 now), indicating significant “spread gains.” For Taiwanese investors, this is one of the best entry points in three years.

BOJ policy moves:

• Governor Ueda’s hawkish comments have increased rate hike expectations to 80%
• Expected to raise rates by 0.25 basis points to 0.75% on December 19, 2025 (a 30-year high)
• Japanese bond yields hit a 17-year high of 1.93%
• USD/JPY dropped from 160 at the start of the year to 154.58, with a short-term rebound chance to 155

Medium to long-term forecast:

• Short-term (1-3 months): oscillate between 154-156; avoid lump-sum exchange
• Medium-term (3-6 months): with BOJ rate hikes clear, JPY may strengthen below 150
• Risks: global arbitrage unwinding, geopolitical conflicts (Taiwan Strait/Middle East) could weaken JPY

Investment advice:

1. Batch buying: exchange 1-2 million NTD every 2 weeks to average out rate risk
2. Diversify use: 40% cash for travel, 30% fixed deposits for growth, 30% ETFs for long-term holding
3. Monitor thresholds: if TWD breaks above 4.90, consider pausing; if it drops below 4.70, accelerate exchange

What to do after exchanging JPY? 4 value-added options

Instead of letting the exchanged JPY sit idle in your account earning no interest, actively allocate to beginner-friendly investment tools.

1. JPY fixed deposit (annual interest 1.5-1.8%)

Most stable. E.SUN/Taiwan Bank open foreign currency accounts, with a minimum of 10,000 JPY, offering steady annual returns suitable for funds not to be touched for 3-12 months.

2. JPY savings insurance (guaranteed 2-3%)

Hold medium-term (3-10 years). Cathay/Fubon Life offer JPY policies with higher rates than fixed deposits, but require no early cancellation.

3. JPY ETFs (Yuanta 00675U, 00703)

Growth-oriented, tracking JPY index fluctuations. Can buy fractional shares via broker apps, supports dollar-cost averaging, with 0.4% annual management fee. Suitable for investors expecting JPY to rise medium-term.

4. Forex swing trading (USD/JPY, EUR/JPY)

Advanced approach. Trade JPY currency pairs on platforms like Mitrade, with zero commission, low spreads, 24-hour trading. Requires basic risk awareness; can leverage small capital for larger positions.

Additional notes on RMB exchange

Many investors also consider RMB allocation. According to the latest 2025 ATM withdrawal rules, single withdrawal limit for RMB is 20,000 yuan, reflecting cautious liquidity management by the central bank. Compared to JPY ATM limit of 150,000 NTD equivalent, RMB liquidity is more conservative. For combined JPY and RMB holdings, start with JPY (more liquid, safer hedge), then add RMB based on economic needs and volatility.

FAQ

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

Cash rate: The rate banks offer for physical bills/coins, paid on the spot, usually 1-2% worse than market spot rate.
Spot rate: The market exchange rate for settlement within 2 business days, used for electronic transfers, more favorable but takes time (T+2).

In simple terms, immediate cash requires paying a premium; waiting for settlement yields better prices.

Q. How much JPY can I get with 10,000 NTD?

Calculation: JPY amount = NTD amount × current rate

Example (Taiwan Bank, 2025/12/10):

• Cash selling rate: 1 NTD = 4.85 JPY
• 10,000 NTD × 4.85 = 48,500 JPY

Using spot rate (~4.87), about 48,700 JPY, difference around 200 JPY (~40 NTD).

Q. What do I need to bring for counter exchange?

• For locals: ID card + passport
• For foreigners: Passport + residence permit
• Company account: Business registration documents
• Online reservation: Transaction notice required
• Under 20: Parental consent and ID needed
• Large amount (>100,000 NTD): May require source of funds declaration

Q. What’s the limit for foreign currency ATM withdrawal?

Post-2025 regulation (to prevent fraud):

New features: Digital accounts limited to 100,000-150,000 NTD/day; use your own bank card for lower fees; plan ahead to avoid shortages.

Summary

The JPY has evolved from a simple travel pocket money to an asset with hedging and investment value. Whether for next year’s trip or hedging against TWD depreciation, the key is choosing the right exchange channel and doing it in batches.

Our recommendation: beginners start with “Taiwan Bank online exchange + airport pickup” or “foreign currency ATM,” then gradually move to fixed deposits, ETFs, or swing trading. Not only will you enjoy more cost-effective travel, but you’ll also build a buffer for market fluctuations. Remember, saving 2,000 NTD on costs is also building long-term investment compound advantages.