Why only big bills from POSB ATMs?

Why only big bills from POSB ATMs?

I recently wanted to withdraw some small bills from a POSB ATM near my home, but it had been modified to dispense $50 notes and larger bills.

Another POSB ATM about five minutes away had also been modified in the same way.

Many people in the heartland, especially the elderly, prefer smaller bills to better manage their finances and avoid overspending.

Since the change, I have noticed fewer people withdrawing cash from these ATMs.

Janagi Somu

This article was first published on June 19, 2014.
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