Quote: "Where there are changes in customer behaviour, we do adjust the withdrawal configurations. There were instances where ATMs configured to dispense only $50 notes were changed to dispense both $10 and $50 notes."
Withdraw a single $50 note every time. So if you need $200, do four withdrawals of $50. This will translate into statistics of increase in quantity of withdrawals but decrease in amount of withdrawals each transaction.
[h=1]ATMs that dispense only $50 notes: DBS replies[/h][h=2][/h]
Aug 07, 2014
WE ACKNOWLEDGE the recent public feedback on the subject of ATMs dispensing only $50 notes, and we thank our customers for their constructive views and suggestions (" 'Forced' to withdraw more?" by Mr Alex Teo Boon Keng and "Bring back $20 notes" by Mr Peter Tan Kok Wan; both published last Friday).
DBS Bank maintains the largest self-service banking network on the island with more than 1,100 ATMs. On top of this, we have tie-ups with 7-Eleven in more than 500 locations, where customers can withdraw as little as $10. Even so, our ATMs are among the most heavily used in the world.
To more effectively serve customers, we use data analytics to determine typical customer traffic and withdrawal patterns in all our ATM locations, and these configurations are reviewed on a regular basis.
For example, to better serve customers in locations where bigger amounts tend to be withdrawn, we have configured some of our ATMs to dispense only $50 notes.
Where there are changes in customer behaviour, we do adjust the withdrawal configurations. There were instances where ATMs configured to dispense only $50 notes were changed to dispense both $10 and $50 notes.
So we are constantly calibrating the algorithm we use to achieve an optimal balance between customer preference for various denominations, queue times and machine availability.
Based on the recent feedback, we are looking into further adjusting the balance between efficiency, convenience and a preference for the option to draw smaller amounts. In fact, some of these adjustments are already taking place.
We are committed to meeting customer needs, and based on recent feedback, we are already making further adjustments. We thank our customers for their support and understanding on this matter.
Jeremy Soo
Head of Consumer Banking Group Singapore
DBS Bank
Withdraw a single $50 note every time. So if you need $200, do four withdrawals of $50. This will translate into statistics of increase in quantity of withdrawals but decrease in amount of withdrawals each transaction.
[h=1]ATMs that dispense only $50 notes: DBS replies[/h][h=2][/h]
Aug 07, 2014
WE ACKNOWLEDGE the recent public feedback on the subject of ATMs dispensing only $50 notes, and we thank our customers for their constructive views and suggestions (" 'Forced' to withdraw more?" by Mr Alex Teo Boon Keng and "Bring back $20 notes" by Mr Peter Tan Kok Wan; both published last Friday).
DBS Bank maintains the largest self-service banking network on the island with more than 1,100 ATMs. On top of this, we have tie-ups with 7-Eleven in more than 500 locations, where customers can withdraw as little as $10. Even so, our ATMs are among the most heavily used in the world.
To more effectively serve customers, we use data analytics to determine typical customer traffic and withdrawal patterns in all our ATM locations, and these configurations are reviewed on a regular basis.
For example, to better serve customers in locations where bigger amounts tend to be withdrawn, we have configured some of our ATMs to dispense only $50 notes.
Where there are changes in customer behaviour, we do adjust the withdrawal configurations. There were instances where ATMs configured to dispense only $50 notes were changed to dispense both $10 and $50 notes.
So we are constantly calibrating the algorithm we use to achieve an optimal balance between customer preference for various denominations, queue times and machine availability.
Based on the recent feedback, we are looking into further adjusting the balance between efficiency, convenience and a preference for the option to draw smaller amounts. In fact, some of these adjustments are already taking place.
We are committed to meeting customer needs, and based on recent feedback, we are already making further adjustments. We thank our customers for their support and understanding on this matter.
Jeremy Soo
Head of Consumer Banking Group Singapore
DBS Bank
