December 9, 2016 / 2:42 AM / 7 months ago

China UnionPay says no change to overseas withdrawal limits

1 Min Read

SHANGHAI, Dec 9 (Reuters) - China UnionPay has not changed its policy on overseas withdrawal limits, the country's top bank card provider's international arm said on Friday, after reports that it was planning to restrict the amount cardholders could withdraw in Macau.

Casino stocks had tumbled after a report late on Thursday that UnionPay cash withdrawal limits would be slashed in Macau, the world's biggest gambling hub, as part of a Beijing-led crackdown on illicit outflows.

UnionPay International said in the statement emailed to Reuters that the daily limit for withdrawals using mainland-issued cards overseas would remain at 10,000 yuan ($1,449.42), with an annual limit still of 100,000 yuan. ($1 = 6.8993 Chinese yuan) (Reporting by Adam Jourdan; Editing by John Ruwitch)

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