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Dear Customers,
In accordance with Point 6, Paragraph 2 of the “Guidelines for Banks Assisting Customers in Reporting Foreign Exchange Receipts, Payments, or Transactions” issued by the Central Bank, banks are required to pay attention to and prevent customers from splitting large remittances into smaller transactions in order to avoid the required reporting procedures and inquiries into the annual accumulated foreign exchange settlement amount.
Accordingly, if a customer conducts foreign exchange settlement transactions on multiple days within a certain period, with each transaction below the reporting threshold of NTD 500,000, our Bank may ask the customer to provide an explanation and, depending on the circumstances, request relevant transaction documents to confirm that the transactions comply with regulatory requirements. If the Bank determines that there is a suspected attempt to avoid the required reporting procedures or inquiry into the annual accumulated foreign exchange settlement amount, subsequent foreign exchange settlement transactions must be conducted in person at a branch.
For customers who carry out multiple foreign exchange settlement transactions within a certain period at amounts close to the equivalent of NTD 500,000, and where there is a suspicion of evasion of the required reporting procedures or inquiry into the annual accumulated foreign exchange settlement amount, the Bank will issue a written notice. If such suspicion persists, the Bank will suspend your foreign exchange settlement function for Internet Banking / Mobile Banking, and you will be required to conduct foreign exchange settlement transactions at a branch. We sincerely ask for your understanding.
