KTB and Tbank agree to share ATMs
Krung Thai Bank (KTB) will share automatic teller machines (ATMs) with Thanachart Bank (Tbank) in a bid to reduce operating costs.
ATM cardholders of both banks can now withdraw cash, check their account balances and transfer money free of charge and without frequency limit through the ATMs of both banks. The service fee is waived for cardholders who make such transactions in the province where their accounts are held. For money transfers, Tbank ATM cardholders will be allowed to transfer money through KTB's ATMs to other accounts under their own names at Tbank and vice versa. Bundit Cheevadhanarak, senior executive vice president of Tbank, said the programme would provide greater convenience for both banks' customers and reduce operating costs for ATM expansion, as well as expenses on ATM imports. Thailand's banks imported about 10,000 ATMs last year. In some locations, particularly shopping malls, there are up to seven ATMs in the same area. With this cooperative agreement, the banks will no longer need to increase their number of ATMs as aggressively in the future. Tbank has 250 ATMs nationwide and 120,000 ATM cardholders. The number of cardholders is expected to grow by 80 per cent this year, Bundit said. KTB's senior executive vice president Shas Treetipbut said the bank was in discussions with Siam City Bank for cooperation on ATM service. KTB has more than 3,800 ATMs across the country and is aiming to increase the number by 2,000 this year. The bank has over eight million ATM cardholders. Somruedi Banchongduang The Nation
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