December 6, 2005
Chunghwa Post Co. has announced that it will begin offering new foreign currency services in early December. The post company, which offers a variety of financial services, says that these new services are being offered in order to meet the needs of Taiwan's travelers.
The new services are to include foreign currency exchange and the cashing of US-denomination travelers checks. Chunghwa Post will offer foreign currency exchange services for the US dollar, Hongkong dollar, euro and Japanese yen.
These new currency services will be available at 108 post offices around Taiwan. Chunghwa Post notes that 19 of these post offices are located in tourist destinations around the island, such a Jiufen outside of Taipei.
Chunghwa Post points out, that, while its has always conducted its foreign currency services in accordance with the regulations of the United Nations' Universal Postal Union, it went a step further in June of 1990 by establishing a partnership with Citibank in order to offer international outward remittance services. Then in March of 1991 it began selling Citibank travelers checks. Chunghwa presently cooperates with American Express for its travelers check services. In later years, the post company began providing indirect remittance services to China.
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