Taipei, May 15 (CNA) Chunghwa Post Co., Ltd. announced Thursday that starting July 19, newly designated transfer accounts will take two days to activate, instead of becoming active the same day—a move aimed at giving customers time to halt potential scams.
This is in addition to a recent announcement that the daily withdrawal limit for ATM cards will be reduced from NT$150,000 to NT$100,000 (US$3,313) starting May 28, in an effort to reduce transaction risks, heighten account safety and block fraud.
The company said it has issued about 18 million ATM cards, the highest number of any financial institution in Taiwan. Reducing the withdrawal limit makes it more difficult for money mules to take advantage of dummy accounts and withdraw cash.
Most financial institutions set withdrawal limits at NT$100,000-150,000, so the coming reduction meets industry standards, Chunghwa Post said, adding that it will affect only a small number of customers.
The company intercepted a total of 510 fraud cases between January and March 2025, involving a total amount of NT$230.66 million, it said.
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