Banking transactions through ATM booths in the country marked 150% growth in a period between 2010 and 2012 with the annual volume reaching Tk1tn last year.
Bangladesh Bank data shows the transactions through the automated teller machines rose from Tk400bn in 2010. In the year 2011, the figure was Tk600bn.
Thanks to its advantages, including 24/7 service and no-cheque method, as compared to the traditional limited banking hours, the electronic system is increasingly becoming popular among the users in the developing economy of Bangladesh.
Out of 47 scheduled banks, 42 offer full or partial online banking services providing facilities to the customers with debit and credit cards.
Most of the commercial banks have developed their core banking solutions to facilitate better services.
In the year 2012, as many as 40 commercial banks had their own ATM booths and the number of booths in the year stood at 2,958 across the country.
In 2012 alone, the new addition was 1,359 machines.
Debit card transactions rose to Tk600bn in 2012 from Tk200bn in 2010 while the credit card transactions registered a dramatic rise to Tk200bn in 2012 from zero in 2010.
“ATM banking is a great help for me against the traditional banking hour since, as a businessman, I need to draw money any time,” Abdur Rashid, a businessman based in Dhaka, told the Dhaka Tribune.
ATM booths of different banks are now commonly visible in the city areas and district towns. Even at the upazila level, some booths are also available.
“It’s much easier and hassle-free method of banking transaction. That’s why the service is having increasing popularity,” said NCC Bank’s chief technology officer Tapan Kanti Sarkar.
Under the mutual agreements among the banks, customers of a bank can also use ATM booths of other banks, which made the network further expanded.
Moreover, Bangladesh Bank’s national payment switch (NPS) has ensured access for all clients to inter-bank transactions.
“The introduction of NPS was highly encouraging for the customers of the country’s inter-bank transactions,” said a senior executive of Bangladesh Bank.
The central bank launched the NPS last year to create a common platform for the card transaction systems, including debit, credit and pre-paid cards as well as internet and mobile banking services.
“E-banking has become common in banking transactions by most of the customers as it operates against the traditional system,” said a high official of Bangladesh Bank. “Mobile banking is a new addition to the system.”
The official, however, pointed out that maintaining security of the e-banking is one of the major challenges now.
“Recently, the law enforcers have found several gangs involved in ATM card fraudulences in Dhaka. The challenge now is to check frauds.”
The criminals stole away money from the booths by using fake ID cards of banks and introducing themselves as IT experts of the banks.
Bangladesh Bank data showed, although there was a significant growth in the card-assisted banking transactions, the internet banking in Bangladesh faced slowdown in 2012.
The internet-banking transactions totalled over Tk200bn in 2012 while the figure was almost same in the previous year.
