Banking system works to ensure cash supply for Tet

Sunday, Feb 07, 2021 17:47

Cash withdrawal at ATMs soars during Tet. — VNS File Photo

The State Bank of Viet Nam (SBV) has requested its branches, credit institutions, foreign bank branches, and the National Payment Corporation of Viet Nam (NAPAS) ensure the safety of banking operations during the upcoming Tet (Lunar New Year) holiday.

Directors of SBV branches in provinces or cities must direct and be responsible for the provision of cash to credit institutions, foreign bank branches and State Treasuries in the area, ensuring smooth monetary circulation ad avoiding cash shortages or impacts to monetary circulation.

Credit institutions and foreign bank branches were told to develop appropriate plans to meet customers' cash demands.

Amid increasing demand for cash as Tet approaches, banks in HCM City have been regulating the supply of cash and ensuring the operation of payment and ATM services systems, making it convenient for customers to make transactions.

Demand for cash up

Nguyen Thanh Tung, general director of Dong A Joint Stock Commercial Bank (DongA Bank), said the need to use cash increased many times during Tet compared to the rest of the year.

Following the instructions of SBV, the bank has prepared cash to meet the payment needs of customers and the needs of businesses to pay salaries and Tet bonuses.

All branches of DongA Bank will ensure sufficient cash supply to serve customers' withdrawal needs, ensure its ATM system operates smoothly, and provides a full range of payment services before, during and after Tet, said Tung.

Many banks in HCM City have also built cash plans to meet the cash needs of customers in terms of both value and denomination structure, while also ensuring ATMs, POS devices and transmission lines operate smoothly during Tet.

The People's Committee of HCM City sent documents to departments, and People's Committees of districts and the municipal SBV branch to improve the quality of ATM operations during the holiday at the end of last month.

In this document, the People's Committee asked SBV branches in the city to work with the management board of processing zones, industrial parks and commercial banks with ATM transactions to meet the cash needs of enterprises.

It also directed commercial banks to have plans to prevent ATM problems to ensure the system operates smoothly.

Commercial banks must work with enterprises to pay salaries and bonuses through many forms such as cash or bank transfers to reduce the pressure on ATMs during the year-end peak days.

In addition, the People's Committee of HCM City also requires the State Bank of the city to co-ordinate with police to have a plan to ensure security and order at ATMs, ensuring safety for cashiers. — VNS

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