The Consumers' Foundation (
To avoid suffering losses from buying fake dollar bills, different banks have adopted different methods when customers ask to change versions of the US$100 bill starting with CB and DF serial numbers. These types of bills are more commonly counterfeited.
Some banks flatly refuse to offer customers the exchange service, while others charge handling fees, according to the non-profit organization.
To equip consumers with more information and arouse the government's attention, the foundation had its volunteers visit 25 banks in Taipei between Nov. 24 and Dec. 8 to ask for dollar bills to be exchanged into New Taiwan dollars.
"It is unbelievable that a handful of banks disregard their obligations as stipulated in the Central Bank of China Act (
According to the survey, only the Bank of Taiwan and Bangkok Bank allow direct conversions for the two versions of the greenback at their counters. Another 11 banks only accept the DF version.
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Those who refuse to offer such services include the Sindian branch of Chinfon Bank (
The Dunnan branch of E.Sun Commercial Bank (
The Taipei branch of Citibank Taiwan restricts the service to its bank customers and cardholders.
The above-mentioned eight banks are accused of violating the Central Bank of China Act and Article 10 of the Fair Trade Act (
The central bank said it would launch investigations into the banks' mishandling and those refusing to make improvements will be ordered to suspend this part of their business for months.
Lu Hsin-chang (