Cash withdrawals from all Macau ATMs without new Know-Your-Customer (KYC) technology installed will be suspended for anyone using Mainland China Union Pay (CUP) cards from today.
In a statement released overnight, the Monetary Authority of Macao (AMCM) said that holders of Mainland CUP cards would only be able to withdraw money from ATMs displaying the KYC ATM logo (pictured). Macau residents and those using cards from other jurisdictions remain unaffected by the change.
“To protect the legal interests of financial institutions and Mainland CUP cardholders, as well as to ensure the effectiveness of the measure to monitor ATM cash withdrawals by Mainland CUP cards, starting 4 July the Monetary Authority of Macao is requesting those ATMs without ‘Know-Your-Customer (KYC)’ techniques installed to suspend cash withdrawals services for Mainland CUP cards,” it said. “Relevant services will be resumed as soon as the KYC function is installed.”
The Monetary Authority said it had requested local banks to install new KYC machines gradually, with 834 currently in operation as of Monday. It added that Mainland CUP cards had become increasingly popular in Macau and that their use could continue as usual at KYC ATMs once the holder’s identity was verified.
“The AMCM has been requesting banks to speed up the implementation and is striving, in collaboration with each bank, to cover all ATMs in Macau including those inside casinos and in their surrounding areas by this year-end,” the statement said. “The AMCM will follow up on the implementation closely to ensure the smooth operation of ATM cash withdrawals.
“Holders of Macau bankcards or cards issued by banks of other jurisdictions can carry out ATM cash withdrawals as usual. KYC techniques for verification of identity will be extended to other Mainland bankcards at a later stage.”
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