Thursday, December 3 2020

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HCM City banks to ensure ATMs cope with extra demand during Tết

Update: January, 08/2020 - 08:15

 

An ATM in HCM City. The central bank has ordered banks to ensure ATMs work smoothly during the Tết holidays when demand for cash skyrockets. — VNA/VNS Photo

HCM CITY — The State Bank of Việt Nam’s HCM City office has taken measures to ensure workers get their salaries and bonuses paid smoothly before Tết (the Lunar New Year) and ATMs work without a hitch during the holidays, which begin on January 24.

Nguyễn Hoàng Minh, its deputy director, said the central bank has asked industrial parks and export processing zones for their tenants’ cash requirements to identify the best way to pay salaries and bonuses.

Banks would dispatch staff with cash to enterprises at industrial parks and export processing zones, he said.

This would help reduce the pressure on ATMs, he pointed out.

Enterprises usually pay bonuses just before Tết.

The SBV has also instructed banks to ensure ATMs suffer from no technical hitches and personnel in charge of loading cash into ATMs are on duty around the clock and to ensure the police intensify patrols at ATM sites.

With some 4,120 ATMs installed, Minh assured there is no need to "worry about ATM congestion."

But he was concerned about the possibility of technical problems at ATMs, especially those belonging to banks that still use the old generation of machines.

ATMs in the city are often crowded with workers gathering to withdraw money after their wages and bonuses are credited to their accounts.

According to banks, withdrawal increases two- or three-fold during the Lunar New Year holidays, especially at industrial parks and export processing zones.

So they increase the amount of cash loaded in ATMs and set up teams ready to quickly address any problems with ATMs, they said.

Because of the significantly higher amount of cash, most banks also pay close attention to security by deploying guards at vulnerable locations. — VNS




 

 

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