TAIPEI (TVBS News) — Taiwan residents can now withdraw NT$10,000 (around US$321) cash subsidies from 28,000 ATMs starting Monday (Nov. 17). The nationwide disbursement aims to offset negative economic impacts from 20% U.S. tariffs imposed by the Trump administration. Citizens and long-time permanent residents must present a national ID, health insurance card, and ATM card to complete transactions.
Taishin International Bank senior vice president Huang Tien-lin (黃天麟) assured security personnel that ATMs will be replenished when cash levels fall below thresholds. Children under 7 require parents or guardians to withdraw funds, while those aged 7-13 can use their own or parents' ATM cards. Children over 13 must use their personal ATM cards or visit a post office without a card.
A Cathay Financial Holdings survey from October 20 shows that more than 40% of Taiwanese plan to spend their handouts on travel and consumption. The survey reveals 26% will use funds for domestic travel, while 15% consider international trips. Also, 32% aim to invest in stocks, funds, or foreign currencies, while 14% prefer to save the money.
Banks and convenience stores offer incentives to citizens who withdraw subsidies, including video game consoles and iPhones as prizes. CTBC Bank (中國信託) offers opportunities to win Switch2 consoles and NT$6,000 (approximately US$193) gift packages. The Taiwan Cooperative Bank (合庫) is raffling off five iPhone 17 devices, while convenience stores are offering promotional deals.