2018 Lunar New Year New Banknote Exchange Rules and List of 7 Designated Exchange Banks/Post Offices

As the Lunar New Year of ROC year 107 (2018) approaches, our Central Bank announced that during the 5 working days from February 8 (Thursday) to February 14 (Wednesday) before the New Year close, the seven major public banks and Chunghwa Post, totaling 454 branches and post offices, can provide the public with new banknote exchange services. In addition, some regional branches and credit cooperatives will also provide appropriate amounts of new banknotes for old customers to exchange.

The seven major public banks are “Bank of Taiwan”, “Land Bank of Taiwan”, “Taiwan Cooperative Bank”, “First Commercial Bank”, “Hua Nan Commercial Bank”, “Chang Hwa Commercial Bank”, and “Taiwan Business Bank”, which will designate exchange points at a total of 371 head offices and branches nationwide (please refer to Appendix 1). Among them, Bank of Taiwan, except for simplified branches, will provide exchange counters at 160 business units, and during the Lunar New Year period, provide new banknote withdrawal services at ATMs across Taiwan.

However, due to factors such as fund allocation and inventory limits, each bank’s exchange location has a daily limit on new banknote supply. If the public cannot fully exchange the new banknotes they need, please go to other nearby exchange locations.

In addition, Chunghwa Post will designate 83 post offices among the total 1,311 post offices nationwide to provide new banknote exchange services, including setting up exchange counters at 25 post offices in metropolitan areas, and providing new banknote exchange services at general business counters of 58 post offices in remote areas (for detailed post office information, please refer to Appendix 2).

As for general private banks and credit cooperatives (Taiwan Cooperative Bank), they may decide on their own whether to provide new banknote exchange services. For example, Tamsui First Credit Cooperative provides small-amount over-the-counter new banknote exchange services, and Taipei Fubon Bank provides over-the-counter new banknote withdrawal services for depositors at 127 branches across Taiwan.

The Central Bank stated that each exchange unit’s entrance and business hall must post a notice stating “This branch (sub-office) provides new banknote exchange; 2,000-yuan and 200-yuan notes are welcome for exchange; 100-yuan notes are limited to 100 per person; the remaining 1,000-yuan and 500-yuan notes are supplied in moderation,” and set up a dedicated “New Banknote Exchange Counter” to clearly inform the public of the relevant exchange rules. The most popular red 100-yuan note among new banknotes still maintains the rule of previous years, with each person limited to exchanging 100 notes (10,000 yuan) per visit.

Recommended Reading / Recommended Appendices:

1. Super Practical! Lunar New Year “Red Envelope Amount Guide” for You to Know.
2. 2018 Year of the Dog New Year Greetings, Four-Character Idioms, New Spring Wishes, LINE Mobile Text Message Blessings, Spring Couplet Collection
3. ROC Year 107 (2018) Lunar New Year Holiday, New Year Holiday Total Days Timetable

Appendix 1: Information on Branches of the Seven Major Public Banks Providing New Banknote Exchange

Bank of Taiwan (160 total)

160 business units across Taiwan, Penghu, Kinmen, and Matsu regions, excluding simplified branches.

Hua Nan Bank (43 total)

• Northern/Keelung/Yilan region: Business Department, Minsheng, Zhongxiao East Road, Nanjing East Road, Yuanshan, Xindian, Taishan, Sanxia, Yingge.
• Taoyuan/Hsinchu/Miaoli region: Guishan, Nankan, Bade, Daxi, Guanyin, Zhongli, Longtan, Yangmei, Xinfeng, Zhudong, Zhunan.
• Taichung/Changhua/Nantou region: Taichung, Dongshi, Qingshui, Shalu, Caotun, Hemei, Xihu, Yuanlin.
• Yunlin/Chiayi/Tainan region: Xiluo, Puzi, Xinying, Madou, Tainan, Yongkang, Rende.
• Kaohsiung/Pingtung region: Luzhu, Neipu, Renwu, Jiadong, Kaohsiung, Xiaogang, Fengshan, Pingtung.

Chang Hwa Bank (35 total)

• Northern/Keelung/Yilan region: Head Office Branch, Datong, Dunhua, Minsheng, Chengdong, Xinzhuang, Linkou, Ruifang.
• Taoyuan/Hsinchu/Miaoli region: Taoyuan, Hsinchu, Yuanli.
• Taichung/Changhua/Nantou region: Business Department, Taichung, Dongshi, Dali, Qingshui, Shalu, Dadu, Caotun, Nantou, Shuili Keng, Changhua, Xihu, Erlin, Beidou.
• Yunlin/Chiayi/Tainan region: Douliu, Xiluo, Dounan, Tuku, Beigang, Dalin, Chiayi, Tainan.
• Kaohsiung/Pingtung region: Kaohsiung, Hengchun.

First Bank (36 total)

• Northern/Keelung/Yilan region: Business Department, Anhe, Yuanshan, Beitou, Shipai, Jiangzicui, Yonghe, Tamsui, Xizhi, Keelung, Ruifang, Yilan.
• Taoyuan/Hsinchu/Miaoli region: Zhongli, Guanxi.
• Taichung/Changhua/Nantou region: Taichung.
• Yunlin/Chiayi/Tainan region: Xiluo, Puzi, Jiali, Madou, Shanhua, Xinhua, Guiren, Yanshui, Yongkang, Dawan, Tainan.
• Kaohsiung/Pingtung region: Kaohsiung, Ziben, Luzhu, Qishan, Wanluan, Hengchun, Linyuan.
• Hualien/Taitung region: Hualien, Taitung.
• Offshore region: Penghu.

Land Bank (27 total)

• Northern/Keelung/Yilan region: Business Department, Heping, Guting, Zhongxiao, Nangang, Banqiao, Yilan.
• Taoyuan/Hsinchu/Miaoli region: Taoyuan, Hsinchu, Tongxiao.
• Taichung/Changhua/Nantou region: Taichung, Nantou, Fuxing.
• Yunlin/Chiayi/Tainan region: Douliu, Chiayi, Tainan, Baihe.
• Kaohsiung/Pingtung region: Kaohsiung, Pingtung, Meinong, Fangliao, Gaoshu, Dashe.
• Hualien/Taitung region: Hualien, Yuli.
• Offshore region: Kinmen, Jincheng.

Taiwan Business Bank (39 total)

• Northern/Keelung/Yilan region: Business Department, Songjiang, Zhongxiao, Nanjing East Road, Da’an, Wugu, Linkou, Keelung, Yilan.
• Taoyuan/Hsinchu/Miaoli region: Nankan, Bade, Dayuan, Zhongli, Longtan, Hukou, Zhubei, Zhudong, Zhunan.
• Taichung/Changhua/Nantou region: Taichung, Wuri, Shalu, Caotun, Nantou, Zhushan, Changhua, Hemei, Beidou, Erlin.
• Yunlin/Chiayi/Tainan region: Douliu, Beigang, Minxiong, Chiayi, Shanhua, Xuejia, Tainan, Rende.
• Kaohsiung/Pingtung region: Kaohsiung, Pingtung.
• Hualien/Taitung region: Hualien.

Taiwan Cooperative Bank (31 total)

• Northern/Keelung/Yilan region: Business Department, Ximen, Dadaocheng, Sanchong, Zhonghe, Banqiao, Yilan, Jiaoxi.
• Taoyuan/Hsinchu/Miaoli region: Taoyuan, Hsinchu, Miaoli.
• Taichung/Changhua/Nantou region: Taichung, North Taichung, Wenxin, Zhongquan, Zhongqing, Fengyuan, Shengang, Jiji, Puli, Changhua, Shengang, Zhushan.
• Yunlin/Chiayi/Tainan region: Linnei, Chiayi, Tainan.
• Kaohsiung/Pingtung region: Kaohsiung, Dashu, Wujia, Wandang, Chaozhou.

Appendix 2: Information on 83 Chunghwa Post Offices Providing New Banknote Exchange

• Northern/Keelung/Yilan region: Taipei Beimen, Shenkeng Caoditou, Banqiao Wenhua Road, Sanchong Zhongshan Road, Keelung Ai San Road, Bali, Linkou, Yilan Zhongshan Road, Toucheng, Zhuangwei, Yuanshan, Sanxing, Wujie, Nan’ao.
• Taoyuan/Hsinchu/Miaoli region: Taoyuan Chenggong Road, Bade Danan, Zhongli, Xinwu, Longtan, Yangmei, Hsinchu Wuchang Street, Xinpu, Baoshan, Qionglin, Beipu, Hsinchu Niupu, Miaoli Zhongmiao, Houlong, Touwu, Gongguan, Dahu, Tongluo, Sanyi, Zhuolan, Nanzhuang.
• Taichung/Changhua/Nantou region: Taichung Minquan Road, Fengyuan, Nantou Sanhe, Changhua Zhongyang Road, Fenyuan, Yuanlin.
• Yunlin/Chiayi/Tainan region: Douliu Xiping Road, Gukeng, Citong, Chiayi Wenhua Road, Yizhu, Budai, Xinying Zhongshan Road, Houbi, Tainan Chenggong Road, Dongshan, Liujia, Xiaying, Liuying.
• Kaohsiung/Pingtung region: Xinxing, Fengshan, Liugui, Pingtung Minsheng Road, Xinpi, Nanzhou, Zhutian, Linbian, Checheng.
• Hualien/Taitung region: Hualien Guo’an, Fuli, Xincheng, Shoufeng, Fenglin, Guangfu, Ruisui, Taitung Datong Road, Green Island, Lanyu, Taitung Beinan, Luye, Guanshan, Chishang, Donghe Taiyuan, Chenggong, Changbin, Taimali, Dawu.
• Offshore region: Magong Zhongzheng Road.