Finance | Cardholders to get limited Taiwan withdrawals

Macau and Hong Kong clients of JETCO, the largest network of automatic teller machines (ATMs) in the two SARs, will now be able to withdraw money in Taiwan, thanks to a new agreement with Taiwan’s Financial Information Service Co. (FISC), the Bank of China (Hong Kong) and the Bank of Taiwan.
JETCO says that the collaboration will facilitate the development of cross-border cash withdrawal services in Macau, Hong Kong and Taiwan, creating business benefits for banks and providing consumers and tourists with a more economical way to withdraw cash abroad.
The Bank of China (Hong Kong) and the Bank of Taiwan will be the local settlement banks in Macau and Taiwan respectively, according to Cihan News Agency.
The first phase, to be completed by the end of the year, will allow visitors from Taiwan to withdraw cash and make balance enquiries using cards from banks covered by FISC. These include the Bank of Taiwan, Land Bank of Taiwan, Taiwan Cooperative Bank, Cathay United Bank and E.SUN Bank.
Visitors can also access services at over 300 JETCO ATMs operated by the Bank of China (Hong Kong) and the Bank of East Asia.
With phase two due for completion at the end of 2017, cardholders from Macau and Hong Kong will be able to access similar services from JETCO ATMs.
FISC currently provides interbank operations and ATM services in Taiwan for some 50 million cardholders, covering a total capital of USD123 million (MOP983 million). The company operates more than 3,000 ATMs in Macau, Hong Kong and mainland China.