Bank / Credit Union

Taiwan’s stimulus voucher converted to cash via ATMs

photo provided by iStock

June 9, 2020

Taiwan citizens and foreigners with Alien Resident Certificates are receiving stimulus vouchers by July 15.

The vouchers will come in four forms: hard copy, credit card payments, contactless smartcards or mobile payments, according to an article in Taiwan News.

Residents who spend New Taiwan dollars of $3,000 (US$100) with their credit cards will receive a NT$2,000 ($US67) deduction from their next month's credit card bill. Those opting for hard copy vouchers and spend NT$3,000 (US$100) will receive NT$2,000 worth of credit deposited into their accounts, according to the Ministry of Economic Affairs website.

Those who opt for one of the digital payments methods, mobile payments or contactless smartcards, and spend NT$3,000, and receive notice of eligibility, can use one of nearly 40 types of bank cards and receive NT$2,000 cashback via ATMs by one of three banks; Taishin International Bank, CTBC Bank and Cathay United Bank. These three banks account for about 50% of all ATMs in Taiwan.