Vietnam Technological and Commercial Joint Stock Bank (Techcombank) and its strategic partner Hongkong Shanghai Banking Corporation (HSBC) have linked their Automated Teller Machine (ATM) networks together to bring more convenience to retail banking customers.
With the ATM linkage, customers of both Techcombank and HSBC in Vietnam who hold credit cards, as well as deposit and current accounts will be able to withdraw cash, check their bank balances, and view their transaction histories at either banks’ ATMs with ease. In addition, customers will be able to carry out these transactions absolutely free of charge.
Currently, Techcombank, Vietnam’s third largest joint stock commercial bank in terms of equity, has 260 ATMs around the country. HSBC, one of Vietnam’s leading foreign banks, has 57. By the end of 2008, the total number of machines in the shared network is expected to reach over 450.
In the coming years, HSBC plans to invest approximately US$28.55 million to expand its self-service banking facilities in Vietnam, including multifunctional ATMs that can take cash deposits.
