Make Payments in TWD - New Taiwan Dollar
Pay in New Taiwan Dollars (TWD)
Mondial Change allows you to make international payments in TWD (New Taiwan Dollar) with ease. Manage your New Taiwan Dollar beneficiaries, track your transactions in real-time, and enjoy a secure online platform. We do not apply any exchange commission on your TWD operations (a spread is applied on the exchange rate, which slightly degrades the interbank rate on the currency pair traded). Your client rate is always communicated transparently before the validation of each of your transactions.
Receive Payments in New Taiwan Dollar (TWD)
It is currently not possible to receive payments in TWD.
Do you want to hedge your exchange risk on the New Taiwan Dollar (TWD)? Check our dedicated page for TWD currency hedging.
Mondial Change Answers All Your Questions About Payments in New Taiwan Dollars (TWD)
What is the timeframe for a TWD payment to be credited to the beneficiary's account?
It generally takes a minimum of 2 business days for a New Taiwan Dollar transfer to be credited to the beneficiary's account. However, these timeframes are not contractual, and our partners responsible for executing and routing payments cannot be held liable if TWD payments are credited beyond 2 business days to the beneficiary's account. External events such as processing times by intermediary banks, public holidays, execution time, or compliance checks can significantly impact payment receipt times.
What are the fees for a payment in New Taiwan Dollar (TWD)?
The fees applied to transfers in New Taiwan Dollar (TWD) generally range from 0 to 10 euros, depending on the agreement with Mondial Change's trading desk. The rate primarily depends on your annual TWD exchange volume and the number of New Taiwan Dollar payments made during the year.
Are there minimum or maximum amounts for payments in New Taiwan Dollar (TWD)?
Mondial Change and its partners verify that your New Taiwan Dollar flows are consistent with the data declared during account opening and align with your activity volume to ensure compliance and security. If there are restrictions on transaction volumes, they will be communicated to you well in advance of the validation of your operations.
What are the specific rules for executing a payment in New Taiwan Dollar (TWD)?
For TWD payments via the SWIFT network, at least the following information must be provided:
• Full name of the beneficiary
• Complete address of the beneficiary
• Local account number
• SWIFT code of the beneficiary's bank
• Reason for payment
Is it possible to modify a payment in New Taiwan Dollar (TWD) after it has been executed?
Yes, it is possible with some of our partners to modify a payment in New Taiwan Dollar (TWD) even after it has been sent in SWIFT. If you have, for example, made an error in the beneficiary's name or account number, the correction is done through a SWIFT amendment. If the payment was not executed via the SWIFT network, then such amendments are not possible, and you must wait for the payment to be returned if applicable.
What are the public holidays when payments in New Taiwan Dollar (TWD) cannot be executed?
January 1: New Year's Day / Founding Day
Variable date (January/February): Chinese New Year’s Eve
Variable date: Chinese New Year – 1st day
Variable date: Chinese New Year – 2nd day
Variable date: Chinese New Year – 3rd day
Variable date: Tomb Sweeping Day
May 1: Labour Day (for some sectors)
Variable date: Dragon Boat Festival
Variable date: Mid-Autumn Festival
October 10: National Day (Double Ten Day)
History of the Taiwanese Dollar
The Taiwanese Dollar (TWD), also known as the New Taiwan Dollar, has been the official currency of Taiwan since 1949. It replaced the old Taiwanese yuan to stop hyperinflation after the Chinese Civil War. It is subdivided into 100 cents, although low-value coins are rarely used. The TWD is issued by the Central Bank of Taiwan and is today a stable currency, despite Taiwan's unique diplomatic status on the international stage. The currency is used in all local commercial and financial transactions.
Monetary Policy of the Taiwanese Dollar
The Central Bank of Taiwan is responsible for the country's monetary policy. Its main objective is to maintain price stability and ensure stable economic growth. Taiwanese monetary policy is based on exchange rate control, with regulated flexibility. The Taiwanese Dollar operates under a semi-floating regime, with the central bank intervening occasionally to prevent excessive volatility. It uses classic instruments such as the policy rate, open market operations, and capital flow control to regulate the money supply and inflation.
Characteristics of the Taiwanese Dollar
The Taiwanese Dollar (TWD) is a stable currency widely used in trade with Asia and North America. Although it is not freely convertible internationally, it is heavily used in foreign trade due to Taiwan's economic strength. TWD banknotes feature national symbols such as landscapes, monuments, and historical Taiwanese figures. The currency is also equipped with modern security features, and Taiwan is renowned for its strict financial surveillance and exchange control.