Banks braced for Tet blitz on ATMs
Banks braced for Tet blitz on ATMs
Banks in HCM City are gearing up to meet increasing cash withdrawal demand during the Tet (Lunar New Year) holidays by ensuring all their Automatic Tellers Machines (ATMs) run smoothly.
Most ATMs in the city get very crowded ahead of the festival as scores of workers gather to withdraw wages and bonuses.
To ease the ATM congestion seen in previous years, the first action taken by local banks is to examine the machines' operations and carry out timely repairs. They are also planning to open new ATMs at busy spots.
Local banks say they have already made necessary preparations to ensure sufficient supply of cash for their ATMs before, during and after the Tet holidays.
A representative of the HCM City Export Processing Zones and Industry Parks Authority said that long queues have been spotted in front of ATM booths in industrial parks as several firms have already paid their workers wages and bonuses.
To meet this sudden surge in withdrawal demand, many ATM trucks of local banks have rushed to these places.
Vietinbank has started a general inspection of its ATMs, data transmission networks and power resources to ensure that all its 2,000 ATMs will operate stably during the Tet season.
It has also opened new ATMs at places where cash withdrawal demand is high and kept the machines supplied with more cash than normal.
It has also organised teams to watch transaction volumes as well as technical operations at ATMs so that any breakdown can be addressed quickly.
"It is not only on Tet holidays, we keep close watch over our ATM system even on normal days to ensure stable operations," said a representative of the Maritime Bank, who did not want to be named.
All Maritime Bank's ATMs are classified and a cash supply regime is maintained. The bank's machines are supplied with cash as soon as their balance reaches the minimum permissible level, he said.
Ocean Bank also foresees increased cash withdrawals at this time of year and has prepared several measures to cope with it.
The bank has increased the amount of cash in each ATM and set up a team ready to quickly address any breakdown in its network.
Most banks in the city have also paid attention to ensuring security for their customers by deploying guards at several "risky" locations and installing cameras in all booths.
They have also cooperated with the local police to intensify patrols at ATM locations adjudged more vulnerable to theft and robbery.
ATMs prioritised
The State Bank of Viet Nam has also asked commercial banks to make plans to ensure smooth operations of their ATM networks during the Tet holidays.
The central bank has prioritised transfer of cash to major cities and provinces that have high usage demand and a large number of ATMs, including HCM City, Ha Noi, Da Nang, Hai Phong, Quang Ninh, Dong Nai and Binh Duong.
To ensure sufficient cash supply for ATMs nation-wide, it has directed both its own agencies and commercial banks to be on duty around the clock, since each machine needs between VND500 and 700 million at all times.
The central bank has also co-ordinated with the Ministry of Public Security in enhancing protection of the ATMs and their users.
vietnamnews
