MyPoint: 'Forced' to withdraw more?

I find DBS Bank's justification for ATMs that dispense only $50 notes disquieting, especially when compared with the positions taken by United Overseas Bank and OCBC Bank ("Customers upset over more ATMs dispensing only $50 notes"; Wednesday).

The bank says that "while the number of withdrawals (at such ATMs) has decreased, the overall cash withdrawn has remained at a consistent level", and "this indicates that customers may be making fewer trips to withdraw the amount they require".

Has it considered that the "consistent" amounts withdrawn could be because each customer is being forced to withdraw more per transaction, even if what he needs is less?

DBS should listen to its customers, and also its competition.

Alex Teo Boon Keng

This article was first published on August 01, 2014.
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