Wednesday, 17 July 2024
JETCO signs MoU with Taiwan’s Financial Information Service Co., Bank of China (Hong Kong) and Bank of Taiwan
Hong Kong -- Joint Electronic Teller Services Limited (JETCO) announced the signing of a Memorandum of Understanding (MoU) with Taiwan’s Financial Information Service Co. Ltd. (FISC), Bank of China (Hong Kong) Limited and Bank of Taiwan, which will offer consumers in Hong Kong, Macau and Taiwan access to cross-border ATM cash withdrawal services. JETCO and FISC, both operate extensive local ATM networks, will integrate their network systems to provide travellers in Hong Kong, Macau and Taiwan with a more economical means of cross-border cash withdrawal services. Bank of China (Hong Kong) Limited and Bank of Taiwan will be the local settlement banks in Hong Kong/ Macau and Taiwan respectively.
During phase one, which is scheduled to roll out in end-2016, visitors from Taiwan will be able to withdraw cash and make balance enquiries using their FISC cards at over 300 JETCO ATMs operated by Bank of China (Hong Kong) Limited and The Bank of East Asia, Limited, the first two participating banks in Hong Kong and Macau. On the other hand, over 50 million FISC cardholders of 20 participating banks in Taiwan, including Bank of Taiwan, Land Bank of Taiwan, Taiwan Cooperative Bank, Cathay United Bank and E.SUN Bank, will have access to the service.
During phase two, which will be launched in 2017, JETCO member bank cardholders visiting Taiwan will be able to withdraw cash and make balance enquiries at ATMs bearing the JETCO logo across Taiwan.
JETCO Chief Executive Officer Angus Choi described the partnership as a significant milestone in cross-border cash withdrawal services in Hong Kong, Macau and Taiwan. “JETCO has long been proactive in seeking partnerships with leading ATM operating companies overseas to expand cross-border ATM services. Given that travellers from Taiwan are the second-largest group of visitors to Hong Kong representing over 2 million arrivals annually, we are pleased to cooperate with FISC to develop cross-border cash withdrawal services in Hong Kong, Macau and Taiwan that will create great business benefits to banks while providing consumers with a more economical choice of withdrawing cash when they travel abroad,” Mr. Choi said.
Re-disseminated by The Asian Banker
