Empty ATMs
On the afternoon of February 8th, at most ATMs in Ho Chi Minh City, there were no customers coming to withdraw cash. Along An Duong Vuong Street (Binh Tan District), just 50 meters away, there were 3 ATMs on both sides of the street but only 1 – 2 customers came to withdraw money. “I need to withdraw 1 million dong in 100,000-dong bills to give red envelopes to my friends’ children, so I came here to withdraw cash, rather than using cash for spending as before,” said Ms. Hoa (living in Truong Dinh Hoi apartment complex, District 8).
Very few people came to withdraw cash at the ATM on the afternoon of February 8th.
Similarly, Ms. Minh (28 years old, worker at Tan Tao Industrial Park) withdrew 2 million dong in cash mainly for giving red envelopes and buying lottery tickets for luck in the new year… She said: “Now everyone has a bank account, a QR code; and every shop has a POS machine for swiping ATM cards, so I no longer have to line up to withdraw cash like before.”
When passing many roads in the central areas of Ho Chi Minh City such as District 1, District 3, District 10…, ATMs were almost deserted.
Meanwhile, card transactions were more bustling. At a supermarket on Ly Thuong Kiet Street (District 11), according to observations, more than 50% of customers swiped their ATM cards for every 10 customers. “I have many ATM cards, but mainly for the company to transfer salaries, partners to transfer transactions when buying and selling, rarely do I go to the ATM to withdraw cash,” said Mr. Tam (43 years old, living in District 5) affirmed.
Cashless payment on the rise
Mr. Nguyen Duc Lenh – Deputy Director of the State Bank of Vietnam – Ho Chi Minh City Branch, said that during the Lunar New Year holiday, the demand for ATM services has grown very high, especially for people and workers in industrial parks to withdraw cash. However, the operation of the ATM system in the city’s areas is still stable, safe, and smooth, ensuring the best response to customers’ needs.
“Nowadays, the number of customers using ATM cards to withdraw cash has decreased. As a result, the phenomenon of crowding and long queues to withdraw money has also decreased,” Mr. Lenh said, considering this as a difference and a progress of ATM service operation.
Most customers only use the ATM card for swiping.
The majority of customers use ATM cards, ATM card accounts for non-cash payment, with services such as payment via POS; scanning QR codes and other electronic banking services. The current trend is that customers use the card for payment more than cash withdrawal, bringing about positive changes and improvements that are more clearly recognized on every Tet holiday,” Mr. Lenh assessed.
“By the end of 2023, the number of ATMs in Ho Chi Minh City will reach about 4,000 machines, a decrease of 4% compared to 2022; meanwhile, the demand for ATM services is increasing, but the ability to meet the demand is still guaranteed,” said the leadership of the State Bank of Vietnam – Ho Chi Minh City Branch.
