Vietnam ACB, Standard Chartered Link ATM networks

Asia Commercial Bank and Standard Chartered Bank late last week announced a tie-up to share their ATM networks and introduce their co-branded credit cards.

 

Customers of both Vietnamese and British banks will thus have free-of-charge access to a pool of more than 270 ATMs in key areas around the Southeast Asian country.

 

ACB will issue VISA Gold cards that can also be used at Standard Chartered Bank’s ATMs, merchants’, and other transaction points around the world.

 

The Ho Chi Minh City-based bank said it would issue credit cards for the customers of Standard Chartered, which is a strategic partner of ACB and received a license last year to set up a totally foreign-owned bank in Vietnam.

 

ACB currently operates about 260 ATMs across the country while the Standard Chartered Bank has 10 here. ACB has issued over 300,000 cards including 50,000 credit cards. The bank this year targets to issue 160,000 more cards and install 200 more ATM machines in big cities.

 

Connecting ATM card networks between a foreign and a local bank has been done by Sacombank and its strategic investor of ANZ Bank, and Techcombank and its strategic investors of HSBC. (Young People, New Hanoi)