JPY to TWD exchange cost comparison | The 4 most cost-effective currency exchange methods in 2025

The NT$ to JPY exchange rate has reached 4.85, and the demand for exchanging to JPY is heating up. But do you know? Exchanging 50,000 NT$ using the wrong method could cost you an extra 1,500-2,000 NT$, enough to buy a dozen coffees in Japan. We have compiled a real cost comparison to help you see at a glance which method is the most cost-effective.

Is it really worth exchanging to JPY now?

As of December 10, 2025, the NT$ to JPY rate is approximately 4.85, appreciating about 8.7% from 4.46 at the beginning of the year. This is already quite significant for Taiwanese investors. In the second half of the year, Taiwan’s foreign exchange demand increased by 25%, mainly driven by tourism recovery and asset hedging.

The Japanese yen is one of the world’s three major safe-haven currencies (alongside USD and Swiss Franc), and has long been favored. Financially, the yen is a “funding currency”—Japan’s ultra-low interest rate (just 0.5%) allows investors to borrow low-interest yen for arbitrage, and when risks rise, funds flow into yen for safe-haven.

According to the latest forecast, the Bank of Japan Governor Ueda Kazuo’s hawkish comments have pushed up rate hike expectations to 80%, with a 0.25 basis point increase to 0.75% expected on December 19 (a 30-year high). USD/JPY has fallen from a high of 160 at the start of the year to 154.58, with short-term fluctuations possibly returning to 155, but medium to long-term forecasts suggest it will stay below 150. For Taiwanese investors, exchanging to yen is not only for travel but also for hedging Taiwan stock market volatility.

Cost comparison of 4 exchange methods

Many people think exchanging yen only requires going to a bank, but the price differences among channels can cost you several cups of bubble tea. We’ve calculated the real prices for you.

1. Online exchange, airport pickup｜Most cost-effective (recommended)

No need for a foreign currency account. Simply fill in the currency, amount, pickup branch, and date on the bank’s official website, then bring your ID and transaction notification to pick up in person. Taiwan Bank’s “Easy Purchase” online exchange has no handling fee (pay only 10 NT$ via TaiwanPay), with about 0.5% better exchange rate.

This is the best pre-departure reservation method. Taoyuan Airport has 14 Taiwan Bank counters (2 open 24 hours), allowing you to specify airport pickup to avoid cash shortages at the last minute.

Estimated cost (50,000 NT$): Loss of 300-800 NT$

Advantages: Better exchange rate, often no handling fee, can specify airport pickup, supports reservation

Disadvantages: Needs prior reservation (at least 1-3 days), pickup time limited to bank hours, branch cannot be changed

Suitable for: Planned travelers who want to withdraw cash directly at the airport

2. Foreign currency ATM withdrawal｜Convenient and efficient

Use a chip-enabled debit/credit card to withdraw yen cash at a foreign currency ATM, available 24/7, with a cross-bank fee of only 5 NT$. Fubon Bank’s foreign currency ATMs allow withdrawal from NT$ accounts, with a daily limit of 150,000 NT$, and no currency exchange fee.

There are about 200 foreign currency ATMs nationwide, but the currencies and denominations are limited, usually only mainstream currencies. It’s not recommended to wait until the last minute to withdraw, as cash may run out, especially in crowded areas.

Estimated cost (50,000 NT$): Loss of 800-1,200 NT$

Advantages: Instant withdrawal, high flexibility, 24/7 operation, low cross-bank fee

Disadvantages: Limited locations and denominations (fixed at 1,000/5,000/10,000 yen), cash may be sold out during peak times

Suitable for: Readers who don’t have time to visit banks or need emergency cash

3. Online exchange, in-branch or ATM withdrawal｜Flexible batch purchasing

Use online banking or app to convert NT$ into yen and deposit into a foreign currency account, using the “spot selling exchange rate” (about 1% better than cash selling rate). If cash is needed, you can withdraw in person or via foreign currency ATM, but will incur a currency conversion fee (starting from about 100 NT$).

This method is suitable for monitoring exchange rate trends, entering in batches at low points (e.g., when NT$ to JPY is below 4.80), averaging costs. For example, after using E.SUN Bank’s app to exchange, the fee for withdrawing yen cash is the difference between spot and cash rates, with a minimum of 100 NT$.

Estimated cost (50,000 NT$): Loss of 500-1,000 NT$

Advantages: 24/7 operation, can buy in batches to average costs, better exchange rates

Disadvantages: Need to open a foreign currency account first, withdrawal cash incurs additional fees (about 5-100 NT$ cross-bank)

Suitable for: Those with forex experience, frequently using foreign currency accounts, can also invest in yen deposits (current annual interest rate about 1.5-1.8%)

4. In-branch cash exchange｜Most expensive (backup plan)

Bring NT$ cash directly to a bank branch or airport counter to exchange for yen cash. Although simple, it uses the “cash selling rate” (about 1-2% worse than spot rate), making it more costly overall. Some banks also charge fixed handling fees.

For example, Taiwan Bank’s December 10, 2025, 9:18 rate shows a cash selling rate of about 0.2060 NT$ per yen (about 4.85 yen per NT$).

Estimated cost (50,000 NT$): Loss of 1,500-2,000 NT$

Advantages: Safe and reliable, denominations available (1,000, 5,000, 10,000 yen), staff assistance on site

Disadvantages: Worse exchange rate, limited to bank hours (weekday 9:00-15:30), possible additional handling fees

Suitable for: Those unfamiliar with online operations or needing small emergency exchanges (e.g., urgent at the airport)

Current yen cash selling rates and handling fees at various banks

Data as of December 10, 2025 (for reference only, check bank websites for actual rates):

Post-exchange allocation directions

Once you’ve exchanged to yen, don’t let your money sit idle without interest. Consider conservative income or growth investments.

Yen fixed deposit: Most stable, open an external currency account with E.SUN/Taiwan Bank online, starting from 10,000 yen, with an annual interest rate of 1.5-1.8%.

Yen insurance policy: Medium-term holding, buy savings insurance with Cathay or Fubon Life, with guaranteed interest rates of 2-3%.

Yen ETFs: Growth-oriented allocation, e.g., Yuanta 00675U tracking yen index, can be bought as fractional shares via broker apps, suitable for dollar-cost averaging, with an annual management fee of 0.4%.

While yen is a safe haven, it also fluctuates bidirectionally. Rate hikes by the Bank of Japan are positive, but global arbitrage unwinding or geopolitical conflicts (Taiwan Strait/Middle East) may suppress the yen. For investment purposes, yen ETFs can diversify risk.

Common FAQ

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

Cash exchange rate is the rate banks offer for physical cash (banknotes/coins) transactions, usually about 1-2% worse than the spot rate. The spot rate is the exchange rate in the forex market for settlement within two business days (T+2), mainly used for electronic transfers, and is more favorable (closer to international market prices).

Q. How much yen can I get for 10,000 NT$?

Calculation formula: 【Yen amount = NT$ amount × current rate (TWD/JPY)】. Using Taiwan Bank’s December 10, 2025, cash selling rate of about 4.85, 10,000 NT$ can exchange for about 48,500 yen. Using the spot selling rate (about 4.87), it’s roughly 48,700 yen, a difference of about 200 yen.

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

For in-branch cash transactions, Taiwanese need to bring ID + passport; foreigners need passport + residence permit. If pre-booked online, also bring transaction notification. Under 20 years old, need parental consent and declaration. Large exchanges (over 100,000 NT$) may require source of funds declaration.

Q. What is the limit for foreign currency ATM withdrawal in Taiwan?

From October 2025, many banks have strengthened anti-fraud measures, and ATM withdrawal limits vary:

It’s recommended to split withdrawals or use your own bank card to avoid cross-bank fees (5 NT$ per transaction). During peak times (like airports), cash may run out quickly, so plan ahead.

Summary

The yen is no longer just “pocket money” for travel but also an asset with hedging and small investment value. Whether you plan to visit Japan next year or want to hedge against NT$ depreciation by converting some funds into yen, following the principles of “batch exchange” and “not leaving money idle after exchange” can minimize costs and maximize returns.

We recommend beginners start with the simplest method: “Taiwan Bank online exchange + airport pickup,” then transfer yen into fixed deposits or ETFs based on needs. This way, you can enjoy more cost-effective travel and add a layer of protection during global market turbulence.