TAIPEI (Taiwan News) — As many Taiwanese prepare to stuff red envelopes with crisp, new Taiwan dollar bills on Lunar New Year, Taiwan's central bank announced on Tuesday (Jan. 7) that a banknote exchange service will be held for five days beginning on Jan. 16.
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, while NT$1,000 and NT$500 notes will be available on a discretionary basis.
The Central Bank said that members of the public can access the exchange service at the 454 branches of eight financial institutions, including the Bank of Taiwan, Land Bank of Taiwan, Taiwan Cooperative Bank, First Commercial Bank, Hua Nan Bank, Chang Hwa Bank, Taiwan Business Bank, and post offices operated by Chunghwa Post across the country.
The bank said that 371 designated branches of the seven banks, 25 post offices in metropolitan areas, and 58 post offices in rural areas will offer banknote exchanges from Jan. 16 to Jan. 22.
To facilitate the cash note exchange service, the Central Bank has provided a Google Map that shows the locations of all the bank branches and post offices where the exchange service is available.