Government News
Improved ATM services on Nanjing Road fit the bills 2024-04-08
Cash withdrawals at a number of the city's ATMs are now more convenient for foreigners, with several offering small bills.
ATMs on the Nanjing Road E. now provide a range of bills as small as 10 yuan (1.38 US cents).
Shanghai is the first city on the Chinese mainland to offer small bills via ATMs. Previously, only 100-yuan bills are available at the machines.
Commercial banks in Shanghai have also created the 200-yuan change kit, providing cash in small bills.
Whether one has foreign currencies or foreign cards, a person can exchange on-site at any ICBC for the change kit. Valued at 200 yuan, it is full of small bills of 5 yuan and 10 yuan, making it convenient for expatriates to make small transactions while shopping.
The ICBC change kit.
"Nanjing Road E. is a famous tourist attraction where foreigners gather," said Zhang Minghao, branch manager of ICBC Nanjing Road E.
"Piloting ATMs that can withdraw small bills provides great convenience for foreigners. We plan to gradually promote the entire network of such machines in Shanghai based on the result of the trial."
Improved ATMs are now accessible in three branches of ICBC.
Currently, commercial banks in Shanghai provide more than 45,000 change wallets in total, and the supply of change kits will be further increased following the arrangement of the regulatory authorities.
In addition to the cash withdrawing business, Shanghai beefed up efforts for easier card payment as well.
At present, more than 37,000 new POS machines have been installed in the city, and more will be set up, officials with the Shanghai Bureau of the central bank said earlier.
Source: Shanghai Daily
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