Singapore’s three local banks and NETS plan to expand ATM and cash access points as part of a wider industry effort to keep physical banking services available for seniors.
The move is outlined in the Association of Banks in Singapore’s Banking a Longevity Society playbook, which sets out measures to make banking more accessible for older customers as Singapore becomes a super-aged society.
DBS, OCBC, UOB and NETS have committed to ensuring 100% coverage by the end of 2027, with at least one ATM, branch or cashpoint within 500 metres of every HDB block. The distance is based on straight-line measurement.
The commitment is aimed at keeping cash access available as a dependable option for seniors, especially those who are less comfortable with digital payments.
As an interim step, the three banks and NETS will ensure that an ATM, branch or cashpoint is available within 500 metres of public transport hubs, National Environment Agency-managed hawker centres and major supermarkets by the end of 2026.
The playbook said the coverage will be reviewed periodically to account for new and growing towns.
Making ATMs Easier to Use
Banks are also improving ATM accessibility for seniors and customers with disabilities.
DBS has enhanced lighting at its branches and ATMs, while UOB and Standard Chartered provide enhanced ATMs with audio jacks that offer text-to-speech instructions.
ATM keypads are also braille-enabled to support visually impaired customers.
UOB and Standard Chartered also offer lower-height ATMs for wheelchair users.
The cash access measures form part of the banking sector’s broader plan to help seniors manage their finances more independently while maintaining access to essential physical banking services.
Featured image: Edited by Fintech News Singapore, based on image by ABS via Banking a Longevity Society playbook
