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Don't know the cheapest way, but the most secure way is through a bank telegraphic transfer. Your US bank will need your bank account number of your Asian bank, and it's swift code Bic and institutional number.
Something else you could try is TransferWise - it often offers good exchange rates and lower fees than a bank wire. You may also want to check if your US bank has branches in Taiwan, as transfers between accounts you own could save on fees too. Might be worth getting a few quotes to compare options.
Does the recipient have a Taiwan bank account? You can simply do an international wire. It will cost in the range of $25-40 USD on the US side and maybe $0-20 on the Taiwan side (I'm not really sure why, but we aren't charged anything every time)
Another option we use is setting up a Charles Schwab investor account. It's free and then offers free international ATM withdrawals. The recipient in Taiwan could withdraw money from your account at a rate of $1000 USD per day. You would have to set up the account in the US and then have Schwab mail the debit card to Taiwan, which I think they will do for free. (I've had them ship the card overseas for free before, but never to Taiwan so not sure if it's on the list of included countries). You would also have to trust them with your debit card, but I guess you can just put into the account the exact amount of money that you want to give them and nothing more.
Perhaps there is a taiwanese bank in new York that is fdic, and you could do an ACH transfer to them. That was the best way with Bangkok Bank..they actually have a us branch.
Hi,
I need to transfer money from the US to Taiwan. Does anyone know of a secure and cheaper way to do that?
Thanks for any information.
I use Wise (old name: Transferwise) from Japan --> USA.
Never had any issues, and if I did, they were resolved through e-mail correspondences.
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