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)
