ATM transactions hit limit in Taiwan

CNA News: The amount of money a customer in Taipei, Taiwan, can transfer via an ATM to an unspecified bank will now be limited to NT $30,000 (U.S. $948.91) per day, according to a decision announced April 14 by the Executive Yuan. That's an increase from the first imposed ceiling of NT $10,000 (U.S. $315).

Cho Jung-tai, a spokesman for the Executive Yuan, said the limitation goes into effect June 1. Exempt are bill-payment transactions for utilities, taxes and transactions customers make with banks where they have accounts. Bank customers also may avoid the limit by telling their banks the accounts to which they plan to transfer money.

Cho said the original measures, intended to protect bank customers, were unveiled before they had gone through the policy-making process and before complementary measures could replace them.

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