TAIPEI (Taiwan News) — Citibank Taiwan closed its 44 bank stores across the country on Friday (Aug. 11), with 66 ATMs to be removed the same day —though its corporate services remain.
Taiwan’s financial regulator approved DBS Bank’s acquisition of Citigroup’s consumer banking business last December when the American bank exited its consumer banking business across Asia, Europe, the Middle East, Africa and Mexico.
DBS will become the largest foreign bank in Taiwan after taking over Citibank’s assets and customers in the country. The Singaporean bank’s Taiwan office said the credit card rewards, cash back, miles and points owned by existing Citibank credit card holders, amounting to 2.76 million, will stay with cardholders despite transferring to the Singaporean bank.
Cardholders’ rights as promised in the contract with Citibank will remain unchanged until the cardholder terminates their use.
For Citibank’s account holders, DBS said a new bank card has been mailed to each customer after July and account holders are advised to activate their bank cards within three months from Aug. 14 through DBS Digibank app or DBS’s physical locations.
DBS said Citibank’s credit card holders can continue to use their cards until expiration and a new credit card will be mailed to each customer. Credit card holders can start registering their details on the DBS Card+ app after 9 a.m. on Aug. 14.
