《TAIPEI TIMES》 First batch of cash handouts could arrive on Jan. 26

A member of the public unrolls the banknotes in this undated photo. Photo: Taipei Times

Expanding the network: The ATM collection system will be expanded to 17 participating financial institutions, which is expected to increase the collection coverage rate to 86.18%.

By Chung Lai Wah and Finn Khan/Staff reporters, plus staff writers and CNA

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The Ministry of Finance said yesterday that if the Legislative Yuan passes the third reading of the central government's general budget on January 5, and President William Lai (Lai Ching-te) announces on January 20, the first batch of cash subsidies of 10,000 yuan (approximately US$314) per person will be credited on January 26 next year.

The Executive Yuan has submitted the central government's general budget for the coming year to the Legislative Yuan for review at the end of August.

The revenue and expenditure in the budget are NT$3.9266 trillion, of which NT$23.57 billion is earmarked for the universal cash program.

Eligibility will be subject to the same rules as previous cash payout programs, the Treasury plan states.

Nationals with Taiwanese household registration will be eligible, including those born in Taiwan before the end of next year, as well as nationals without household registration but holding a residence permit, foreign permanent residents, and foreign spouses of Taiwanese citizens holding a residence permit.

Government personnel performing official missions abroad and their family members holding Taiwanese nationality will also be eligible.

The Ministry of Finance said that bank account registration will open on January 25, and the first batch of payments will be credited the next day, noting that the initial batch will include pre-registered deposits, direct deposits and payments issued through government registers.

Five collection methods will be provided: direct deposit, registered bank deposit, ATM collection, post office collection, and roster distribution for prisoners and residents of certain remote areas.

The Ministry of Finance pointed out that the ATM collection system is expected to expand the participation of Shanghai Commercial and Savings Bank, bringing the total number of participating financial institutions to 17, including eight state-owned banks, China Trust Bank, Cathay Pacific Bank, Taishin Bank, Taipei Fubon Bank, Yushan Bank, Wing Feng Bank, Yuanta Bank and Chunghwa Post.

The expansion of the ATM network is expected to increase the collection coverage to 86.18%, higher than 84.34% during the previous cash disbursement program.

ATM collection services will begin on February 15, while cash collection at post office counters will begin on February 22.

Deadline for most recipients to receive their payments