POSB and Singapore Press Holdings (SPH) announced on Sunday a new partnership in which ATMs will be located at the SPH Buzz Pod outlets.

The first SPH Buzz Pod to be equipped with an ATM machine is located at Blk 803 Yishun Ring Road. It was unveiled by Member of Parliament for Nee Soon GRC Lee Bee Wah.

Ms Lee said that the set up will answer two of her residents' dreams, which is to have an ATM nearby, as well as to be able to buy some items without having to walk to the other side of Khatib MRT, where most of the shops are located.

The collaboration will be carried out in phases. POSB plans to place 15 ATMs at SPH Buzz Pod outlets by the end of the year. The next one will be in Tampines.

There are 83 SPH Buzz Pods, a chain of convenience stores and newstands located at bus interchanges, MRT stations, shopping malls and heartland areas.

Mr Derrick Goh, head of POSB, said that this collaboration is part of continuous efforts to better serve the bank's four million customers, and will expand POSB and DBS' ATM network of more than 1,100 machines.

SPH executive vice-president for circulation and chairman of SPH Buzz, Mr Chua Wee Phong, said he hopes to enhance customer shopping experience and convenience needs through this partnership.