Saturday, December 10 2016

VietNamNews

ATMs run out of money ahead of Tet

Update: February, 02/2016 - 15:18
People are waiting to withdraw cash at ATMs in Ha Noi. — Photo vnexpress.net

HA NOI (VNS) — Many people were angry when they were unable to withdraw cash from ATMs over the weekend, the Lao Dong (Labour) Newspaper reported.

Bui The Hien went to a BIDV ATM machine in Ton Duc Thang Street to withdraw cash, but the machine had run out of money.

Another resident, Nguyen Thi Quynh Huong, faced a similar problem when an ATM displayed an "out of service" message when she  tried to withdraw money several times.

There have been several reports of problems with ATMs in the run-up to Tet (Lunar New Year), especially at industrial parks and export processing zones.

The newspaper reported that in the Thang Long Industrial Zone, hundreds of workers stood in a long queue in the rain to withdraw money. But many ATMs were out of service.

Several ATMs in Ho Tung Mau, Cau Giay, Nguyen Chi Thanh and Huynh Thuc Khang streets were not working.

The ATMs often run out of money over the weekend when the banks are closed, leading to questions whether banks should be punished for not attending to the problem.

The SBV inspection and monitoring agency has asked commercial banks to ensure smooth operation of their ATMS during the Tet holiday.

The inspections will focus on ATMs installed in industrial parks and export processing zones, where millions of workers are paid via cards.

These machines often run out of money and regularly break down.

The agency will take action against any bank whose ATMs have problems such as running out of cash, inappropriate suspension of operations and lack of customer care service.

The agency has asked banks to ensure that all ATMs operate smoothly and have a sufficient supply of cash before, during and after Tet.

It has also asked the banks to carry out timely repairs of ATMs as well as to open new ATMs at busy locations.

The agency said banks should ensure the security of their customers by deploying guards at several "risky" locations and by installing cameras in all booths.

Deputy Governor of the State Bank of Viet Nam Dao Minh Tu said commercial banks would be fined VND10 million to VND15 million ($476-$714) if their ATMs did not have sufficient funds over the New Year.

There are now nearly 80 million bank accounts and 16,000 ATMs in the country, but these machines will be overloaded even if just 10 per cent of the customers withdraw cash at the same time. — VNS

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