UPDATED – Banks to remain closed until July 1

All banks and insurance companies in Macau will remain closed for another week until July 1, in view of the need to prevent the spread of COVID-19, however normal services will be maintained for the online banking and ATM services.

Banks will also provide hotline services for customers to handle urgent financial services, the Macau Association of Banks indicated.

 “Banks will establish hotlines during the suspension of service provision at branches, in order to facilitate residents and businesses with needs regarding the provision of urgent services, including urgent matters such as the payment of salaries, among others”, a statement from the Monetary Authority of Macau (AMCM) indicates.

In the meantime, the due dates for certain services, namely local settlement, payment of loans (in instalments), payment of credit card claims, as well as the due date of term deposits will be postponed to the first business day after the end of the temporary suspension of service, which is set to be July 4.

During this extra week of suspension of services, insurance companies will ensure the effective monitoring of any cases of policy renewal, AMCM adds.