First batch of cash handouts could arrive on Jan. 26
EXPANDED NETWORK: The ATM withdrawal system is to grow to 17 participating financial institutions, which is expected to raise handout coverage to 86.18 percent
By Chung Li-hua and Fion Khan / Staff reporter, with staff writer and CNA
The first batch of NT$10,000 (US$314) cash handouts could be deposited on Jan. 26 next year if the Legislative Yuan passes the third reading of the central government budget by Jan. 5 and President William Lai (賴清德) promulgates it by Jan. 20, the Ministry of Finance said yesterday.
The Executive Yuan submitted the central government budget proposal for the coming fiscal year to the legislature at the end of August.
Revenue and expenditure are budgeted at NT$3.9266 trillion, including NT$235.7 billion earmarked for the proposed universal cash handouts.
A person fans out NT$1,000 bills in an undated photograph.
Photo: Taipei Times
Eligibility for the payout would follow the same rules as the previous cash distribution program, the ministry’s plan states.
Taiwanese with a household registration would be eligible, including those born in Taiwan before the end of next year, as well as nationals without household registration who have residence permits, foreign permanent residents and foreign spouses of Taiwanese citizens with residence permits.
Government personnel stationed overseas on official assignments and their family members who hold Taiwanese nationality would also be eligible.
Registration for bank deposits would open on Jan. 25, with the first batch of payments deposited the following day, the ministry said, adding that the initial batch would include preregistered deposits, direct deposits and payments distributed through government rosters.
Five collection methods would be available: direct deposit, registered bank deposit, ATM cash withdrawal, post office collection, and roster-based distribution for prison inmates and residents of some remote areas, it said.
The ATM withdrawal system is expected to add Shanghai Commercial and Savings Bank (上海銀行), bringing the total number of participating financial institutions to 17, including eight state-run banks, CTBC Bank (中國信託銀行), Cathay United Bank (國泰世華銀行), Taishin International Bank (台新銀行), Taipei Fubon Commercial Bank (台北富邦銀行), E.Sun Commercial Bank (玉山銀行), Bank SinoPac (永豐銀行), Yuanta Commercial Bank (元大銀行) and Chunghwa Post (中華郵政).
The expansion of ATM networks is expected to raise coverage to 86.18 percent, up from 84.34 percent during the previous cash handout program, the ministry said.
Cash withdrawals through ATMs would become available on Feb. 15, while over-the-counter cash collection at post offices would begin on Feb. 22, it said.
The deadline for most recipients to claim the payment would be Aug. 31, while eligible newborns would have until Jan. 31, 2028.
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