Banks will be fined for leaving ATMs short of money

Accordingly, the State Bank requires directors of State Banks in provinces to be responsible to the Governor for providing adequate cash to banks and treasuries in the area.

The State Bank must also direct banks to ensure system security and safety. In addition, it must monitor fund balances and promptly replenish funds for ATMs to ensure 24/7 operations.

The State Bank requires banks to ensure smooth, stable and safe ATM operations to avoid disruptions in operations - Photo: TL

Proactively and promptly handle situations that arise when there is a large demand for cash withdrawals concentrated around Tet.

In addition, it is necessary to promptly administratively sanction cases where ATMs are out of money or not working due to subjective errors of the bank and report to the Governor.

The ATM system must ensure smooth, stable and safe operation, avoiding interruptions in operations, causing people to queue up to withdraw money, causing public outrage. Especially in industrial parks and export processing zones with a large concentration of officials, workers and employees, it is also necessary to increase flexible cash payments right at the enterprise to reduce the load on ATMs during Tet.

ATM has problem 'spitting out paper'?

Regarding a cardholder withdrawing money at an ATM and receiving a printed piece of paper with the number 500,000 VND instead of real money, a bank representative explained that the transaction was conducted while the machine was running a test run.

The State Bank also requested the National Payment Corporation of Vietnam (Napas) to arrange technical staff to ensure safe and stable card switching operations during Tet. Coordinate with functional units of the State Bank and member credit institutions to promptly handle errors, incidents as well as complaints and questions from customers.

After a series of incidents of ATM cardholders losing money at midnight, or cases of destroying ATMs with mines, crowbars, or welding, many cardholders believe that banks may have stopped ATM transactions at night to deal with card crimes.

Many other banks have also increased their defenses. Specifically, some ATMs, although not limited by the operating hours of the buildings, have their rolling shutters down after 10 p.m.

Some ATMs in places that do not ensure security, or are far from the center, banks also relocate, or concentrate into clusters of 3-4 machines in brighter and more secure locations, even arranging 24/7 security guards.