More flexibility needed in ATMs' cash denominations
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I recently went to a POSB ATM at Peninsula Plaza to withdraw $1,000.
To my surprise, the machine dispensed eight pieces of $100 and four pieces of $50, instead of the usual 20 pieces of $50.
Out of curiosity, I contacted DBS Bank to find out why $100 notes were dispensed when ATMs usually dispense $50.
I was told that the change to dispensing $100 was made recently across many parts of Singapore after a study of customer withdrawal patterns.
As it is generally more difficult to use $100 in daily transactions, I hope DBS can look into the following:
- Designating certain ATMs to dispense only $50 or $100.
- Allowing customers the choice of withdrawing cash in various denominations of $10, $50 and $100.
Phua Peng Hwee
