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Banking ServicesForeign Exchange Business

Last updated:2019/09/26 Print

What foreign exchange services does the Post Office provide?

Including Outward Remittance, Inward Remittance, International Postal Money Order (MO), Money Exchanger (USD, EUR, HKD, JPY, and CNY), and Travelers Cheques(Redemption Only).

What documents should I bring when obtaining foreign exchange services? What procedures will I need to complete?

Please bring a valid identification document and fill out “Outward Remittance Application and Exchange Memo” for purchasing foreign exchange or “Inward Remittance Application and Exchange Memo” for selling foreign exchange.
Identification documents include as follows:
■ Taiwan Area residents: Personal identification document.
■ Residents of other countries or districts: Passport, Exit and Entry Permit or Resident Certificate.
■ Mainland Area residents: Exit and Entry Permit or Resident Certificate.
■ Hong Kong and Macao Area residents: Exit and Entry Permit, the temporary entry permit notice or Resident Certificate.
■ Companies, limited partnerships, firms or associations: Photocopy of registration certificate approved by the competent authority.

Does every post office provide foreign exchange services?

No, only the designated post offices authorized by Central Bank of the Republic of China (Taiwan) offer these services. Please refer to Chunghwa Post website ((www.post.gov.tw/post/internet/U_english2)/Banking Services/Foreign Exchange Business/Location of Post Offices Offering Foreign Exchange Business) for designated post offices information.

Are there time restrictions on foreign exchange services?

Foreign exchange services may be obtained at designated post offices during savings and remittance business hours. However, if the foreign exchange transactions are performed on weekends, holidays,Taoyuan Minsheng Road Post Office after business hours ,17:00, or the period that Taipei City Government announces schools and offices to close due to natural disasters, the cumulative amount of purchasing or selling foreign exchange under the same ID card number may not exceed the equivalent of NTD 500,000 (not inclusive) respectively .

What kind of case shall I fill out a "Declaration Statement of Foreign Exchange Receipts and Disbursements or Transactions" ("Declaration Statement") when engaging in foreign exchange transactions?

It is necessary to fill out a Declaration Statement if the single amount of purchasing or selling foreign exchange is equal to or over NTD 500,000 or if the accumulated amount which the same applicant purchases or sells foreign exchange within one day is equal to or over NTD 500,000.

Should the applicant sign or affix his/her seal to the signing area on an Exchange Memo or Declaration Statement?

Individuals' signatures or seal imprints are both acceptable; the company seal and the responsible person seal must be affixed in the case of companies.