EDITORIAL - ATM

Automated Teller Machines or ATMs have become an indispensable part of the lives of many Filipinos, especially those who belong to the working class and those who are still in school. Employees now receive their salaries through the ATM, while students get allowances and tuition payments similarly.

But while ATMs do provide convenience, they are not always attuned to the needs of those who use them, particularly the sectors specifically mentioned above, sectors that, more than any other, would have wanted these machines to be more "friendly and considerate."

For example, many ATMs do not dispense P100 bills. Now, it is not clear whether the operator banks just do not have these small denominations or they have programmed their ATM operations precisely in this manner.

But the unfortunate fact is this: These sectors — the working class and the students — are precisely the very ones that need small denomination bills like the P100 in order for them to withdraw precise amounts, not rounded out figures dictated by the banks.

A sales clerk, for instance, may only have P900 in her account comprising her entire pay for the week and may need to withdraw everything to tide her over to the next pay day. Imagine her frustration when the ATM tells her it has no P100 bills and so she can withdraw only P500.

Or imagine a student from, say Mindanao, whose parents sent through the ATM not only her allowance but also her tuition payment for the midterm exams. Obviously, she needs to withdraw every peso sent her. But what if the ATM only dispenses P500 or P1,000 bills.

The right to withdraw their money from the ATM in the precise amounts that they need to withdraw ought to be an option that lies in the hands of these small-time account holders, not with the banks.

Volume withdrawals are reserved for in-bank transactions, not ATMs where there is only so much that can be withdrawn as amounts are regulated in such a way that they do not affect banking stability or operations. To do away with small denominations defeats the very essence of ATMs.