Need to send money to family or friends in Taiwan? Nowadays, international money transfers have become easier with a variety of available platforms, both offline and online. If you want to transfer money from Indonesia to Taiwan, there are a few things you need to consider.
One important aspect is the SWIFT code of the Taiwanese bank. The main function of a SWIFT code is to verify all your transactions so that the money sent reaches the correct and intended account.
So, what is the safe, fast, and easy way to transfer money to Taiwan? Here is a complete guide to help you with your money transfer needs from Indonesia to Taiwan.
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The Importance of Checking the Taiwan Bank SWIFT Code
The SWIFT code, also known as the BIC (Bank Identifier Code), is a unique bank code comprising letters and numbers used for banking transactions, especially international transactions.
Initially, this code was created by an association named SWIFT (Society for Worldwide Interbank Financial Telecommunication) to connect many financial institutions across 209 countries. All banks worldwide have their own unique SWIFT codes containing 8-11 characters.
To obtain the SWIFT code of a Taiwanese bank, you first need to know the recipient bank. This is essential since Taiwan, like Indonesia, has multiple banks.
You can search for the SWIFT code of your target bank by using a search engine, typing keywords like “SWIFT code” followed by the bank’s name. Alternatively, if you have an online banking app, you can find the SWIFT code information there.
3 Ways to Transfer Money to Taiwan
There are several methods you can choose to transfer money from Indonesia to another country, in this case, Taiwan.
1. Via PayPal
Almost everyone is familiar with PayPal. This platform has been popular since the 2000s for sending and receiving money. Unfortunately, the exchange rates on PayPal tend to be higher than those used by other money transfer services.
One thing to note is that if you want to withdraw money from PayPal, it takes 2-6 business days, which can be a long wait, especially if you need the funds quickly.
2. Via Western Union
Western Union is another money transfer service available in over 200 countries worldwide. You can find Western Union agents in many places, possibly near you.
The easiest way is to visit the nearest Western Union agent. You can usually find Western Union at the Indonesian Post Office, local banks, or convenience stores near your location.
Remember, Western Union charges a service fee for sending money. The fee amount depends on the amount sent – the smaller the amount, the lower the fee, and vice versa.
3. Via Bank
Using a bank is also an easy way to send money abroad. Just go to the bank of your choice and request a transfer to a Taiwanese bank. Fill out the form and remember to provide the Taiwanese bank’s SWIFT code. The transaction will then be processed with a transfer fee that varies depending on the amount sent.
Transfer Money to Taiwan with Transfez
Want to know how to transfer money to Taiwan more safely, easily, and quickly? By using Transfez, you can transfer money to over 70 countries and 33 currencies with competitive exchange rates and low fees. Most importantly, your transaction will be secure as Transfez is officially registered and supervised by Bank Indonesia.
Here are the steps to transfer money to Taiwan:
1. Download and sign up for a Transfez account for FREE;
2. Enter the amount you want to send;
3. Verify your identity;
4. Enter the recipient’s information in Taiwan, such as their name and address;
5. Complete the payment in the Transfez app;
6. Your transaction is complete.
Check Out Other Money Transfer Destinations with Transfez
Money Transfer to the Philippines
Money Transfer to Vietnam
Money Transfer to Singapore
Money Transfer to Malaysia
Money Transfer to Australia
Download Transfez App
Transfez App can help you transfer money abroad more quickly and efficiently. Transfez Business can also help your business in making transactions abroad. For those of you who want to send money to relatives who are abroad because they are studying, working, or traveling, Transfez will be ready to help. This app is available on Android as well as iOS.
How’s that? Easy, right? With Transfez, you can save a lot on fees when transferring money abroad. Transfez charges a flat fee of IDR 100,000 per transaction for transfers to Taiwan. Your money will reach the recipient’s account within a maximum of 24 hours if the transfer is made during business hours.
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