Wed, Feb 25, 2009 - Page 4 News List

Post office to accept PRC wire transfers tomorrow

CROSS-STRAIT EXCHANGE While there was still no official word yesterday about China’s readiness to offer the service, Chunghwa Post said that it would be ready

By Shelley Shan  /  STAFF REPORTER

Chunghwa Post announced yesterday that it would start accepting money wired from China tomorrow.

The nation’s largest postal service company had planned to launch the service last Wednesday, but the plan had to be put on hold at the last minute after the postal service in China said that all of its branches might not be ready to offer the service.

Chunghwa Post vice president Su Tien-fu (蘇天富) said yesterday that the service would definitely be available from tomorrow.

Customers using the service will be exempt from paying a NT$200 processing fee per transaction until Aug. 31.

However, Su said that authorities in China had not provided Chunghwa Post with an official list of designated post offices that will offer the money-wiring service to Taiwan, nor said whether there would be a limit on the amount of money that can be wired to Taiwan.

It was also unknown how much Chinese post offices would charge for each transaction.

Su said that a list of authorized post offices in China and other relevant information was expected today.

Chunghwa Post clients can currently wire money to China from 92 branch offices in Taiwan.

Transfers are limited to no more than US$30,000 and the processing fee is NT$500 per transaction. Money wired to China from the post office first has to be exchanged to US dollars at a Citibank branch.

Su said that Citibank merely provided the post office with “technical assistance,” and that clients did not need to pay processing fees to Citibank when exchanging money to US dollars for the post office wiring service.

Recipients of Chunghwa Post wire transfers to China do not have to pay a processing fee.

When money is wired from China to a Chunghwa Post account, the post office will notify the recipient as soon as the money arrives, the post office said.

Chunghwa Post was still evaluating the possibility of providing a cross-strait mail order service, Su said.

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