THE Monetary Authority of Macao said Friday it has lowered the upper limit for automated teller machines (ATMs) withdrawals to 5,000 patacas (US$626.33) or Hong Kong dollars per transaction and clarified the daily withdrawal limit is still 10,000 yuan (US$1,449.30) per day.

    The authority said the move will regulate Chinese bank cardholders’ overseas money withdrawals. The limits are effective Friday.

    The South China Morning Post, citing a finance industry source, reported late Thursday that Macao would halve the amount of cash that China UnionPay cardholders can withdraw from ATMs in the territory.(SD-Agencies)