Holders of automated teller machine (ATM) cards issued by some Taiwanese banks are now able to withdraw Japanese yen from all ATMs in Circle K Sunkus Co Ltd convenience stores in Japan, Financial Information Service Co (FISC, 財金資訊公司) said yesterday.
FISC, which is owned by the Ministry of Finance and a group of local financial institutions, said that holders of ATM cards issued by 20 Taiwanese banks who travel to Japan gained access to financial services from more than 4,000 ATMs at Circle K stores across Japan starting on Oct. 1.
The 20 Taiwanese banks include Bank of Taiwan (台灣銀行), Land Bank of Taiwan (土地銀行), Cooperative Bank of Taiwan (合作金庫), First Commercial Bank (第一銀行), Hua Nan Commercial Bank (華南銀行) and Chang Hua Commercial Bank (彰化銀行).
The 20 Taiwanese banks have issued more than 52.8 million ATM cards, FISC said.
FISC said that to meet growing demand from Taiwanese consumers, many of whom consider Japan a favorite travel destination, the company is also on the verge of reaching an agreement with Japanese merchants to allow Taiwanese tourists to use the debit card function on their ATM cards to make purchases in Japan, beginning in the second half of next year.
Holders of ATM cards issued in Taiwan can already use their debit cards in stores in Hokkaido.
FISC said it is working to extend debit card services to about 20,000 Japanese merchants by 2020.
In addition to Japan, FISC said that Taiwanese ATM card holders are expected to be able to withdraw Hong Kong dollars and Macau patacas from December when they travel to the two territories.
FISC said that it has been pushing for the provision of similar financial services in Singapore, South Korea and Thailand.
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