Citibank has launched China's first ever drive-through automatic
teller machines (ATM) in eastern Beijing – although for the moment
only holders of bank cards issued abroad will be able to benefit
from it.
Drivers are now able to withdraw money or take care of other
transactions without leaving their vehicles, said Anand Selva, vice
president of Citibank China.
"This is just an experiment," said a source with Citibank China,
adding that plans were in motion to expand the system to Shanghai
and other cities if it worked well. Citibank has already launched
eight drive-through ATMs in Asia.
ATM business is a vital way for foreign banks to expand their
market share in China, said the source.
However, Citibank's ATMs provide withdrawals, transfers and
payments only to holders of bank cards issued abroad
since?foreign banks are not yet allowed to issue their own
cards in China.
"If approved by the China Banking Regulatory Commission,
domestic bank card holders will join the ATM network as well," the
vice president said, without revealing when the banking regulator
would pass judgment on the matter.
In 2005, Citibank and China Unionpay reached an agreement, under
which Unionpay cards would be accepted by Citibank ATMs in 35
countries and regions globally and Citibank's international cards
are also recognized by more than 10,000 foreign card ATMs of China
Unionpay.
(Xinhua News Agency August 3, 2007)
