Taiwan’s banks offer banknote exchange ahead of Lunar New Year

The demand for new bank notes increases as people prepare money to put in red envelopes for the coming Lunar New Year

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(By Central News Agency)

TAIPEI (Taiwan News) – With the demand for new bank notes increasing as people prepare money to put in red envelopes for the coming Lunar New Year, Taiwan’s state-owned financial institutions provide bank note exchange service for five days, beginning on Jan. 28, according to media reports.

However, the Central Bank of Taiwan places a limit on the exchange of NT$100 cash notes. An individual is allowed to exchange their money for a maximum of 100 new NT$100 cash notes, according to reports.

The Central Bank said that members of the public can get the exchange service at the 453 branches of Taiwan Bank, Land Bank of Taiwan, Taiwan Cooperative Bank, First Bank, Hua Nan Commercial Bank, Chang Hwa Bank, Taiwan Business Bank, and the post offices operated by Chunghwa Post across the country.

To facilitate the cash note exchange service, the Central Bank provides a link that connects to a list of all the banks and their branches, including post offices, where the exchange service is available.