Unable to withdraw money? New ATM regulations from various banks are in effect, understand the withdrawal and transfer limits at a glance.

Fraud techniques are ever-changing, and major banks in Taiwan are working with the government to strengthen defenses against scams. Recently, several major banks have successively lowered the withdrawal and online transfer limits for ATMs, and even introduced facial recognition systems and latency mechanisms for fund transfers to help the public protect their wallets.

Strictly prevent fraud: Several banks in Taiwan have updated withdrawal and transfer limits.

In recent years, scams such as fake investments and online shopping fraud have been rampant. According to the Ministry of the Interior's Police Department "Anti-Fraud Dashboard" statistics, losses from fraud cases across Taiwan reached as high as 8.91 billion NTD in June this year, of which scams related to "fake investments" accounted for 4.58 billion NTD, with over 3,000 cases processed.

To ensure the safety of public funds and strengthen the government's anti-fraud policies, major banks across Taiwan have recently lowered withdrawal limits to prevent victims from being instructed by fraud groups to withdraw large amounts of cash.

Summary of New Limit Regulations by Major Banks

Several banks have recently adjusted or are about to adjust their withdrawal limits, including Taishin, Chinatrust, Mega, Heku, and the post office. The adjustments cover digital accounts, ATM withdrawals, online banking transfers, etc. Below are the main highlights of the adjustments:

Bank anti-fraud upgrade: Introduction of withdrawal detection alert system

In addition to amount limits, various banks have also introduced more sophisticated fraud prevention technologies. For example, some ATMs at Mega Bank have installed a "facial masking detection system". If it detects that the withdrawal person is wearing a mask or operating the ATM while talking on the phone, it will immediately emit an alert sound to remind users to be aware of fraud risks and to avoid making withdrawals under the control of fraud groups.

In addition, some banks have also adjusted the fund transfer rules for digital accounts. For example, Chunghwa Post has announced that starting from July 19, the financial card designated transfer account will no longer be effective immediately, but will require a waiting period of two business days to prevent abnormal transfers.

Public should be aware: unable to withdraw money

This wave of "limited withdrawal trend" also simultaneously affects people's lives and consumption habits. Chain News reminds readers to pay attention to the details of their account level limits or whether they are third-class digital accounts; and if there is a need for large withdrawals, it is necessary to make an appointment in advance at the counter or seek assistance from bank staff; at the same time, make full use of the bank's alert notifications, anti-fraud mechanisms, and customer service channels to ensure transaction safety.

Although withdrawals are inconvenient, these measures are the primary compromise made by banks and the government to curb fraud. Authorities also urge the public to recognize the threat of fraud and proactively update account passwords and permissions regularly, working hand in hand with financial institutions to create a safer financial environment.

This article discusses why money cannot be withdrawn? The new regulations for ATM at various banks have been implemented, making it easy to understand the withdrawal and transfer limits at a glance. First appeared in Blockchain News ABMedia.