New Banknote Exchange: Latest Information on Banks and Post Offices for Lunar New Year Red Envelope Cash Exchange

As the Lunar New Year of ROC Year 110 (2021) approaches, our country’s Central Bank has announced that during the five working days from February 3 (Wednesday) to February 9 (Tuesday) before the New Year holiday, branches of the seven major public banks and a total of 454 post offices of Chunghwa Post will open to the public for exchanging new NT$100, NT$200, NT$500, and NT$1,000 banknotes.

In addition, some regional banks and local credit unions also provide thoughtful services, allowing long-time customers to exchange new banknotes directly at the counter. It is worth noting that the Central Bank stipulates that each denomination is supplied in limited quantities, but the NT$100 notes are limited to 100 per person (though you can re-queue).

NT$100

NT$200

NT$500

NT$1000

NT$2000

The seven major public banks provide a total of 371 head offices and branches across Taiwan, Penghu, Kinmen, and Matsu for new banknote exchange (please refer to Appendix 1), including:

• Bank of Taiwan: All 160 business units within the territory of the Republic of China, except simplified branches, will provide exchange counters.
• Land Bank of Taiwan: 27 branches in the Taiwan region and Kinmen region.
• Cooperative Bank of Taiwan: 31 branches in the Taiwan region.
• First Commercial Bank: 36 branches in the Taiwan region and Penghu region.
• Hua Nan Commercial Bank: 43 branches in the Taiwan region.
• Chang Hwa Commercial Bank: 35 branches in the Taiwan region.
• Taiwan Business Bank: 39 branches in the Taiwan region.

Among them, Chunghwa Post will designate 83 of its 1,298 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 at 58 post offices in remote areas (please refer to Appendix 2 for detailed post office information).

As for general private banks and credit unions (Cooperative Bank), they may decide on their own whether to provide new banknote exchange services. For example, Tamsui First Credit Cooperative provides small-quantity new banknote exchange services at the counter, and Taipei Fubon Bank provides counter withdrawal of new banknotes for depositors at all 127 branches 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 obtain the needed new banknotes, please inquire at other nearby exchange locations.

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

Recommended Reading / Recommended Appendix:

1. Red Envelope Amount Guide: Super Practical Information for Lunar New Year and New Year’s Eve.
2. ROC Year 110 Holiday Calendar: Consecutive Holidays (National Holidays, Lunar New Year Holidays) Taiwan-Penghu-Kinmen-Matsu 2021 Holiday Schedule (Make-up Holidays, Working Days)

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

Bank of Taiwan (160 branches in total)

160 business units across Taiwan, Penghu, Kinmen, and Matsu, excluding simplified branches. (Bank of Taiwan Pre-Lunar New Year 160 New Banknote Exchange Locations List.PDF)

Official website: Bank of Taiwan.

Land Bank of Taiwan (27 branches in total)

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

Kinmen region: Kinmen, Jincheng.

Official website: Land Bank of Taiwan.

Cooperative Bank of Taiwan (31 branches in total)

• Taipei-Keelung-Yilan: Business Department, Ximen, Dadaocheng, Sanchong, Banqiao, Zhonghe, Jiaoxi, Yilan.
• Taoyuan-Hsinchu-Miaoli: Taoyuan, Hsinchu, Miaoli.
• Taichung-Changhua-Nantou: North Taichung, Taichung, Zhongqing, Wenxin, Zhongquan, Shengang, Fengyuan, Jiji, Puli, Zhushan, Changhua, Shengang.
• Yunlin-Chiayi-Tainan: Linnei, Chiayi, Tainan. …