Chinese New Year Information

While most government agencies, private businesses and organizations will be closed, certain measures will be implemented for the most celebrated holiday season of the year.

Banking and finance

Banks and the stock market will close during the holiday period. Consumers in need of cash are suggested to make preparations, including changing for crisp new bills or settle transactions, as banks will remain open until 3:30 p.m. on Friday, Feb. 12.

The deadline for the payment of credit card bills due during the holiday period will be postponed to Feb. 22.

People should update their deposit passbooks at their banks so that the 24-hour automated teller machines (ATMs) will accept their FISC bank cards, issued by Financial Information Service Corp. (FISC), which integrates online financial services in Taiwan.

Consumers in need of cash during the holidays will have to rely on the ATMs, most of which will supply new bills as well.

Most banks set the ceiling for maximum withdrawals at NT$100,000 from the same account per day. Some banks will raise the limits during the holidays.

FISC executives said all banks should assign staff to handle customers' emergency calls around the clock. The company will make random checks to ensure the enforcement of the service.

People are urged to avoid the expected peak hours of 11:00 a.m. to 2:00 p.m. and 5:00 p.m. to 7:00 p.m. on Feb. 11-14 when using the ATMs.

Customers should keep their transaction slips in case the ATMs fail to render exact services according to the command, they said. FISC has set up a service line — Tel: (02) 2630-1222 — to offer assistance.

The executives also reminded people of not falling into the traps of fraudsters that have been trying to coax depositors into unnecessary financial transactions on ATMs in order to tap into the accounts and clean all deposits.

Anyone having questions may call the “165” hot line for assistance from law enforcement officials from the National Police Agency.

24-hour shopping

The 24-hour non-stop sales campaigns launched by wholesale stores will last mostly to 6:00 p.m. on Saturday, Feb. 13, which is New Year's Eve on the lunar calendar.

Leading retailers like Carrefour, RT-Mart and a.mart chain stores all offer special discounts or incentives in order to lure more customers by giving them additional shopping vouchers that can be used on a latter date.

They expect revenues for the holiday season will surge as in previous years. Many markets at various districts in major cities also organize sales promotion campaign for products needed for the holidays.

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