Regulatory Alerts2022-10-12
Added
MAS Notice 603: Branches, Places of Business and Automated Teller Machines
The Monetary Authority of Singapore issues Notice 603 to regulate the establishment and operation of branches, places of business, and automated teller machines for all banks in Singapore. The notice mandates specific limits on the number of physical locations, requires notification for setting up or relocating facilities, and governs the deployment of ATM networks and EFTPOS debit services. It also outlines conditions for limited purpose branches offering remittance and money-changing services, as well as rules for outsourcing cash and cheque-related transactions.
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