Standard Chartered is a leading bank of the country well-known for its huge array of...hidden costs. Keeping in view the principle 'if you cannot beat them, join them', they have recently tied up with Dutch-Bangla Bank Ltd. to share the latter's ATM network across the country which by far is the largest network in Bangladesh. Good move by SCB, though the credit goes to DBBL, they have surely gained a competitive advantage through their wide network of ATMs.
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11 comments:
whats for DBBL frm this deal? can they use scb's atms now? or any other facility?
As far as I have heard, you have to pay 150 taka if you are an SCB customer willing to use DBBL ATMs. I don't think DBBL customers can use SCB ATMs, probably they don't need to.
DBBL has signed deal with Bank Asia as well to share each other's ATM network. DBBL seems to be on a roll. As before, its not clear yet how much the consumer has to pay to share a different bank's ATMs.
After StanChart and Bank Asia its now merrymaking time for DBBL with NCC. They have now signed up with NCC Bank so that the latter can share DBBL's largest fleet of ATMs in the country.
DBBL has bagged the Citibank NA deal to offer their services in Bangladesh. Basically making every DBBL branch & ATM also act like a Citibank NA branch.
Prime Bank also signed up for DBBL ATM. Are there any left?
WTF! DBBL charges only Tk 10 for other banks' clients!!! SCB and the rest of those crooks charged around Tk 70 to Tk 150 for their own clients.
Has HSBC joined yet? So far it looks like all the foreign banks are on the DBBL bandwagon (SCB, Citi, Ceylon)
Funny thing is that AB Bank and Euronet Wordwide announced a ATM network partnership. In that seminar they mentioned they will get market share by 'cost-cutting' to Tk 30 per transaction, completely unaware that DBBL currently offers Tk. 10.
Technically speaking SCB sharing DBBL’s ATM is not real interface. So far I know that transaction is passed through VISA net system. Fees and charges are settled by VISA as per NNSS agreement. However, agreement between DBBL and SCB is that DBBL will refund SCB the extra amount. Very funny way of implementation.
So far, I know ETN (e-Cash), Markentile, Bank Asia, NCC, United Commercial Bank, Southeast Bank has signed agreement with DBBL.
News is ETN is acquired by Euronet. So will Euronet connected with DBBL ? and will DBBL customer access Euronet ATM's ?
Euronet withdrew from the market and wont be coming because their venture did not make financial sense to compete with DBBL's open-to-anyone system.
2 DBBL ATMs in the banani branch due to the long waiting lines. They really do listen to their customers. They spent over tk 100 crore on the automation process alone (only bank in Bangladesh to do so).
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