Starting today, the post office will no longer accept savings from private corporations, Taiwan Post Co said yesterday.
The company’s savings and remittance director Chou Ruei-yun (鄒瑞雲) said yesterday that Article 1 of the Postal Savings and Remittance Act (郵政儲金匯兌法) clearly indicates that postal savings accounts were created to encourage personal savings.
‘INAPPROPRIATE’
“It then becomes inappropriate for the post office to allow private corporations to save in postal savings accounts, because by law corporations are defined as business juridical persons and are not considered individuals,” she said.
Meanwhile, corporations that already have post office savings accounts are asked to withdraw the money and close their accounts as soon as possible.
Taiwan Post reiterated its policy after a story published by the Chinese-language United Daily News yesterday, saying that it would no longer accept savings from corporations for fear of violating the Postal Savings and Remittance Act.
The post office has approximately NT$460 billion (US$13 billion) in its postal savings accounts, making it the largest savings institution in the nation.
FIXED RATES
While many banks have lowered their one-month fixed rates to 0.1 percent, or even lower, a postal savings account offers a one-month fixed interest rate of 0.29 percent.
By law, the post office cannot give loans to individuals or corporations, and about half of the funds in its postal savings accounts must be saved at the Central Bank.
The Ministry of Education (MOE) is to launch a new program to encourage international students to stay in Taiwan and explore job opportunities here after graduation, Deputy Minister of Education Yeh Ping-cheng (葉丙成) said on Friday. The government would provide full scholarships for international students to further their studies for two years in Taiwan, so those who want to pursue a master’s degree can consider applying for the program, he said. The fields included are science, technology, engineering, mathematics, semiconductors and finance, Yeh added. The program, called “Intense 2+2,” would also assist international students who completed the two years of further studies in
The brilliant blue waters, thick foliage and bucolic atmosphere on this seemingly idyllic archipelago deep in the Pacific Ocean belie the key role it now plays in a titanic geopolitical struggle. Palau is again on the front line as China, and the US and its allies prepare their forces in an intensifying contest for control over the Asia-Pacific region. The democratic nation of just 17,000 people hosts US-controlled airstrips and soon-to-be-completed radar installations that the US military describes as “critical” to monitoring vast swathes of water and airspace. It is also a key piece of the second island chain, a string of
Taiwan will now have four additional national holidays after the Legislative Yuan passed an amendment today, which also made Labor Day a national holiday for all sectors. The Chinese Nationalist Party (KMT) and Taiwan People’s Party (TPP) used their majority in the Legislative Yuan to pass the amendment to the Act on Implementing Memorial Days and State Holidays (紀念日及節日實施辦法), which the parties jointly proposed, in its third and final reading today. The legislature passed the bill to amend the act, which is currently enforced administratively, raising it to the legal level. The new legislation recognizes Confucius’ birthday on Sept. 28, the
A magnitude 5.9 earthquake that struck about 33km off the coast of Hualien City was the "main shock" in a series of quakes in the area, with aftershocks expected over the next three days, the Central Weather Administration (CWA) said yesterday. Prior to the magnitude 5.9 quake shaking most of Taiwan at 6:53pm yesterday, six other earthquakes stronger than a magnitude of 4, starting with a magnitude 5.5 quake at 6:09pm, occurred in the area. CWA Seismological Center Director Wu Chien-fu (吳健富) confirmed that the quakes were all part of the same series and that the magnitude 5.5 temblor was
RSS