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Title: Jin-Kuan-Yin-(4)-Zi-09600377950 (2007.09.19 Announced)
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   1 Explanation to Provision of Credit Card Cash Advance

Issuing Agency: Financial Supervisory Commission, Executive Yuan
Date of Issue: September 19, 2007
Ref. No.: Letter Jin-Kuan-Yin-(4)-Zi-09600377950

Subject: With respect to the provision of credit card cash advance, kindly forward a notification to each card issuing institution that a card issuing institution shall handles the provision of credit card cash advance pursuant to this Explanation. Kindly acknowledge receipt of this letter.
Explanation: 
1. This letter is a respond to your Letter Chuan-Hsin-Zi-2383 dated August 22, 2007.
2. With the aim of respecting consumers’ right of option, a card issuing institution which is willing to provide cash advance services upon card approval shall list similar wordings as the following in a credit card application form:
‘I agree/disagree this bank to actively mail me a letter with cash advance passwords, after it approves to issue the credit card (a person who does not circle any of the words, agree and disagree, is deemed to select the word, disagree).’
In addition, the card issuing institution shall disclose information relevant to the methods of applying for cash advance password in the application form, the handbook about rights and benefits of a cardholder and on the website in order to inform cardholders fully. 
3. A card issuing institution which is not willing to provide cash advance services upon card approval shall disclose information with respect to the methods of applying for cash advance in the application form, the handbook about rights and benefits of a cardholder and on the website in order to inform cardholders fully.
4. We request each card issuing institution to complete modifications of application forms before November 20, 2007, and request you to submit reports to us on details of handling cash advance services pursuant to this Explanation by each card issuing institution before November 30, 2007.

To (The Original): The Bankers Association of the Republic of China (kindly forward a notification to each card issuing institution)
To (Copy): Consumer Protection Commission (CPC), Executive Yuan (with Letter Hsiao-Pao-Kuan-Zi-0960004808 dated May 25, 2007); Financial Examination Bureau, Financial Supervisory Commission; Banking Bureau of the Commission