OCBC Bank customers can now withdraw up to $100 at a time when they buy items at 7-Eleven stores here. Customers can use their ATM, debit or account-linked credit cards to withdraw the cash, subject to how much the store has on hand and the account holder’s daily withdrawal limit.
This service is available at all 7-Eleven stores except those at Changi Airport and in Shell petrol stations. The move announced yesterday adds almost 400 7-Eleven stores to what OCBC calls its “e-channels network”.
The addition of the 7-Eleven network means OCBC customers can now withdraw cash from about 2,000 self-service locations, including around 1,200 OCBC and United Overseas Bank ATMs, and 450 participating Nets merchants.
Mr Andrew Chang, OCBC’s head of self service and payments, said yesterday: “On average, around 2.8 million cash withdrawals are made via our ATMs each month, making this the number one banking transaction.
“ It is therefore very important for us to further expand our cash withdrawal service to give customers more avenues to access cash.”
The “partnership with 7-Eleven enables us to increase our presence at more strategic locations to make banking more convenient for customers on the go”, Mr Chang added.
Mr David Goh, chief executive of 7-Eleven Singapore, said the link with OCBC is part of its efforts to expand customer service.
In July 2013, DBS Bank and POSB teamed up with 7-Eleven to allow withdrawals at more than 400 stores.