Taiwan has a technologically advanced banking system, although internet-banking is not yet popular. ATMs are widely available, and can be used to pay bills and transfer money. Credit or debit cards (with the Plus or Cirrus symbols) issued overseas can be used to withdraw cash from ATMs.

Banks which are popular with expatriates living in Taiwan include the International Commercial Bank of China and China Trust Bank, as well as the local branches of international banks such as Citibank, HSBC and Standard Chartered Bank. Normal banking hours are 9 a.m. to 3 p.m. Monday to Friday.

To open a local or foreign currency account, you will be asked to show your passport and Alient Registration Card (ARC) and provide your full name and address and contact details. You will normally be issued with an ATM card within a week or two.

Credit cards are generally accepted at large stores and hotels in the main cities, but not in smaller establishments. It is normal practice to use cash for payment in restaurants and smaller shops. There are no restrictions on taking currency into or out of Taiwan. Foreign currency can be exchanged at airports and banks.

Travellers' cheques, preferably in US dollars, can be cashed in many hotels, larger restaurants and shops.