With digital transaction becoming more popular, Automated Teller Machine or ATM is fast becoming a thing of the past. And this is evident from the number of ATMs the Bank of Bhutan removed in some of the districts so far. The bank has removed 10 ATMs since July.
Bank of Bhutan introduced ATM in 2008. In more than a decade, the bank installed over 100 ATMs across the country.
According to the Bank of Bhutan, the cash transactions through the ATMs dwindled after the bank introduced the mobile banking applications. And more so amid the pandemic as an increasing number of people switched to digital transaction for fear of catching COVID-19 through cash.
As of today, BoB has the highest mobile banking application users at over 200, 000. The bank records online transactions worth over Nu 20 M every month. On the other hand, the monthly average ATM transactions amount to only Nu 250,000.
The bank plans to remove thirteen more under-utilised ATMs across the country hereafter. This has the bank’s customers worried, particularly those who prefer handling cash to online transaction.
“These days most people make payments online. I have not seen many people using ATM and cash. Even a small kid does mbob and this is why we face problems when we are in need of cash. Many people say it is convenient making payment online but for us, cash is more convenient,” said Kezang, a taxi driver in Thimphu.
“Sometimes online payment is inconvenient when the system is down. I think ATM is important for emergency use,” said Leki Jamtsho, a resident of Thimphu.
The bank’s General Manager Dorji Wangchuk said that the bank is studying the frequency of usage of its ATMs at various locations before removal.
“With the introduction of mobile banking, the ATMs in the different locations, the hits, the cash withdrawal, so we are withdrawing the ATMs in such a location where we have less cash withdrawal. The ATMS withdrawn, we had made a thorough study on that. We checked on the transaction. We ensured that the customers of Bank of Bhutan do not suffer because of the removal of the ATMs in locations.”
Samten Dolkar
