Number of ATM booths doubles in country
Saturday, 24 May 2008
Abdullah Al Asad, an employee of a mobile operator, said it is easier for him to draw money from his bank with an automated teller machine (ATM) card, but there is no ATM booth of the bank in Pabna, reports bdnews24.com.
Although the ATM has turned out to be a popular means of banking, the advantage is virtually limited to the capital city and some major towns.
Over the past year, the number of ATM booths has almost doubled in the country, and as Munira Islam, deputy director of Banking Regulation and Policy Department of the Bangladesh Bank said the figure will keep growing.
According to a Bangladesh Bank (BB) estimate, there were 560 booths in the country in March, with most in Dhaka, up from 292 in the same period a year back.
Sixteen banks are operating ATMs independently, and 24 jointly.
'Q Cash' of IT Consultants Limited and 'E Cash', a joint venture of United Group and IFS International, comprising several banks are on stream.
Md Nazrul Huda, deputy governor of Bangladesh Bank, sayid, "It's a positive sign."
"Most of the foreigners withdraw money with ATM card. It has many advantages. Money can be withdrawn and deposited at any time," Nazrul said.
Dutch-Bangla Bank Ltd (DBBL) has the highest number of booths.
SM Jahangir Akhter, chief of DBBL Information Technology Division, said the bank has 236 booths in the country, with up to 12 new booths coming every month.
"Up to 43 per cent of cash withdrawal is done by ATM card," he said.
Thirteen banks can use DBBL booths. Besides, the bank has an agreement with Q-Cash, allowing ATM cardholders of Mercantile Bank and Trust Bank to take cash from the same booths.
Also, DBBL clients can use all Q-Cash outlets. The bank has a similar agreement with E Cash that runs 24 booths across the country, Jahangir said.
BRAC Bank that has 80 booths set a target to install 200 ATMs by the end of this year.
Abedur Rahman Sikder, head of Marketing and Corporate Affairs of BRAC Bank, said that 60 per cent of money was being withdrawn by ATM card.
Among the private banks, Eastern Bank has 26 booths, Islami Bank 20, Prime Bank 15, AB Bank 12, One Bank 10 and Pubali Bank has six.
State-owned Bangladesh Small Industries and Commerce Bank Limited, know as BASIC Bank, has three ATM booths in the city, according to the bank's public relations officer SM Mahmud Hasan.
Hasan Iqbal, deputy general manager of Sonali Bank, said the bank has planned to set up 12 booths by the year-end.
E-Cash Managing Director Zahir Ahmed said it will raise the number of booths to 100 this year.
Zahir said that operating ATM booths in joint venture has many advantages. "A booth costs up to Tk 1.5 million (15 lakh) to install. If the banks want to provide this service alone, it is too much."
He blames inconveniences in operating booths on frequent power-cuts. "Power-cuts damage the UPS frequently."
Although the ATM has turned out to be a popular means of banking, the advantage is virtually limited to the capital city and some major towns.
Over the past year, the number of ATM booths has almost doubled in the country, and as Munira Islam, deputy director of Banking Regulation and Policy Department of the Bangladesh Bank said the figure will keep growing.
According to a Bangladesh Bank (BB) estimate, there were 560 booths in the country in March, with most in Dhaka, up from 292 in the same period a year back.
Sixteen banks are operating ATMs independently, and 24 jointly.
'Q Cash' of IT Consultants Limited and 'E Cash', a joint venture of United Group and IFS International, comprising several banks are on stream.
Md Nazrul Huda, deputy governor of Bangladesh Bank, sayid, "It's a positive sign."
"Most of the foreigners withdraw money with ATM card. It has many advantages. Money can be withdrawn and deposited at any time," Nazrul said.
Dutch-Bangla Bank Ltd (DBBL) has the highest number of booths.
SM Jahangir Akhter, chief of DBBL Information Technology Division, said the bank has 236 booths in the country, with up to 12 new booths coming every month.
"Up to 43 per cent of cash withdrawal is done by ATM card," he said.
Thirteen banks can use DBBL booths. Besides, the bank has an agreement with Q-Cash, allowing ATM cardholders of Mercantile Bank and Trust Bank to take cash from the same booths.
Also, DBBL clients can use all Q-Cash outlets. The bank has a similar agreement with E Cash that runs 24 booths across the country, Jahangir said.
BRAC Bank that has 80 booths set a target to install 200 ATMs by the end of this year.
Abedur Rahman Sikder, head of Marketing and Corporate Affairs of BRAC Bank, said that 60 per cent of money was being withdrawn by ATM card.
Among the private banks, Eastern Bank has 26 booths, Islami Bank 20, Prime Bank 15, AB Bank 12, One Bank 10 and Pubali Bank has six.
State-owned Bangladesh Small Industries and Commerce Bank Limited, know as BASIC Bank, has three ATM booths in the city, according to the bank's public relations officer SM Mahmud Hasan.
Hasan Iqbal, deputy general manager of Sonali Bank, said the bank has planned to set up 12 booths by the year-end.
E-Cash Managing Director Zahir Ahmed said it will raise the number of booths to 100 this year.
Zahir said that operating ATM booths in joint venture has many advantages. "A booth costs up to Tk 1.5 million (15 lakh) to install. If the banks want to provide this service alone, it is too much."
He blames inconveniences in operating booths on frequent power-cuts. "Power-cuts damage the UPS frequently."