Central bank of China starts to cut waiting time at banks

Central bank of China starts to cut waiting time at banks
May 21, 2007 20:38
KEVIN0518 Points: Join Date: Mar 13, 2007 Status: offline	In China, you must have this kind of experience. If you want to withdraw or deposit some money at banks, you have to wait in a long queue because there are many customers at the bank and the staff have can not do their jobs efficiently. At present, China central bank has adopted some measures to resolve this problem including raising the limits of withdrawing cash at ATM from current 5,000 yuan to 20,000 yuan within a day. The purpose is to encourage clients withdraw money at ATM instead of going to banks. Another measure is to realize that people can pay for the public utilities such as water, electricity via their accounts at any banks in the future. Now people have to pay for these at the bank where they start the accounts. The third is to give some training lessons to the staff to increase the efficiency. The central bank also encourages the commercial banks to make more payment channels including on line payment or via telephone calls. It also encourages people to make payment through non cash channels, for example, the credit cards. Hope those measures can take effect and ease the current situation.

May 21, 2007 20:38

KEVIN0518
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Join Date: Mar 13, 2007
Status: offline

In China, you must have this kind of experience. If you want to withdraw or deposit some money at banks, you have to wait in a long queue because there are many customers at the bank and the staff have can not do their jobs efficiently.
At present, China central bank has adopted some measures to resolve this problem including raising the limits of withdrawing cash at ATM from current 5,000 yuan to 20,000 yuan within a day. The purpose is to encourage clients withdraw money at ATM instead of going to banks. Another measure is to realize that people can pay for the public utilities such as water, electricity via their accounts at any banks in the future. Now people have to pay for these at the bank where they start the accounts. The third is to give some training lessons to the staff to increase the efficiency. The central bank also encourages the commercial banks to make more payment channels including on line payment or via telephone calls. It also encourages people to make payment through non cash channels, for example, the credit cards.
Hope those measures can take effect and ease the current situation.

May 23, 2007 21:28	#1
LEONARDO Points: Join Date: May 21, 2007 Status: Offline	Wow, it is terrible to wait in a long que

May 23, 2007 21:53

LEONARDO
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Join Date: May 21, 2007
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Wow, it is a suffering to wait in a long queque!
Every time when I deposit or withdraw money, I try to avoid the peak time, and often, I choose to withdraw cash at ATMs.
Personally, I think that the heavy pressure on bank services is partially due to China's underdevelopped E-commerce. Our daily business transaction is still operated on the basis of cash payment. While, in the western developped countries Credit Consumption is almost everywhere, and the E-commerce is quite mature.
So, only when a perfect and mature credit system is established and e-business is developped can the pressure on banking service industry be eliminated !

May 24, 2007 19:47

KEVIN0518
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Join Date: Mar 13, 2007
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"Personally, I think that the heavy pressure on bank services is partially due to China's underdevelopped E-commerce. "
Yes, Leonardo. But I think people's traditional concepts are the main reason because they think E-commerce is not safe enough. At the same time, the efficiency of those staff must be improved. It is reported that some of them play cards at the bank when a long queue of people are waiting at the bank. It is too bad.

May 26, 2007 21:26	#4
ELLEN77 Points: Join Date: Feb 7, 2007 Status: Offline	Yes, the service of the bank staffs must be improved.

May 26, 2007 22:03

GURTY
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Join Date: Feb 8, 2007
Status: Offline

It is really a good news that the limits of withdrawing cash at ATM was raised from current 5,000 yuan to 20,000 yuan within a day.

But the maximum cash withdrawed on ATM is only CNY2000 at a time, except the ATM of China Merchants Bank.

The ATM of China Merchants Bank shows another story. If you are a depositor of China Merchants Bank , you can withdraw CNY10000 a time at most. If not, you can withdraw CNY 3000 at a time and should pay extra fee for using the machine.

May 27, 2007 23:16	#6
LEOPOLD219 Points: Join Date: Feb 7, 2007 Status: Offline	Well, it is a goo news. However, it has a problem. Although the limits is raised from 5000 to 20000, it still is inconvenient. If you want to withdraw 20000 from a ATM, you should operate it at least 7 times because you onley can withdraw 3000 each time. A new problem appears.

May 30, 2007 10:54

APAULT
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Join Date: Mar 11, 2006
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I don't think staff are undertrained, instead the banks' systems are very labour intensive. They were designed for a time with minimal computer usage and few customers - and there are still heaps of government regulations. Now we have a massive increase in demand for the services, so quese will get longer until the business systems and computer systems are improved. It's part of the growing pains of development, but like everyonme else I get frustrated!

May 30, 2007 20:56	#8
KATRINA Points: Join Date: Nov 29, 2004 Status: Offline	Yes, they are not undertrained. Their attitude toward customers are not good. A long queue is waiting at the bank. However, they have time to play cards or do some knitting. The four banks are state owned. To some extent, they are not afraid to be out of work.

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