Your money or your card!

A couple of weeks ago I received a phone call from a representative of Druk PNB. Apparently, I forgot my ATM card at the machine (again!), and a dear soul found it and returned it to the branch. So first, thanks to the anonymous and honest finder, and thanks to PNB for giving me a call.

Now here is where it gets even better. When I went to pick up my card from the ATM section, I spoke with the person in charge, and suggested a small improvement to prevent such customer forgetfulness in the future: Usually, the ATM machine spits out the cash first and the card later. After taking the money, some absent-minded people (like myself) just leave, with the card still deep inside the machine. But if you reverse the order - spit out the card first, and only dispense the money once the card is taken - the problem is solved.

Lo and behold: PNB took my suggestion seriously. I recently withdrew some cash from the machine. After confirming the amount, the card was ejected, and the machine started beeping and flashing until I grabbed my card. Only then did it dispense the cash.

Hopefully I will now remember to wait for the cash...

Live from the field: Visa card @ BOB ATMs?

"I'm really good at spitting out paper slips!"

On Dec 15, 2010 BOB launched their MasterCard service, where cash (in Nu.) can be withdrawn from its ATM machines using a MasterCard. BOB's website now boasts an announcement regarding Visa as well. Here is what I found:

Withdrawing cash with MasterCard from BOB ATMs

I just received the following news regarding the ability to withdraw local currency using a MasterCard:

Kindly be informed that the Automatic Teller Machines (ATM) of Bank of Bhutan can now be used by holders of MasterCard (both credit or debit) to withdraw local currency (Ngultrum). Maximum of Nu. 18,000.00 can be withdrawn per usage and there is no limitation on transaction per day (except the limitation given by the Master Card issuance agency). There will be a charge of USD 2.50 – USD 3.00 per usage.

This is good news for tourists and other credit-card holders, especially if they need local currency during non-banking hours.

I haven't found any mention about this on the BOB website, so hopefully the information is correct.

Beware of BNB Debit Card Charging Errors

BNB's debit card is a convenient way to withdraw cash at ATM machines. But I recently found out that there is a slight problem in BNB's banking software, which may cause your account to be erroneously charged.
Here's what happened: On Friday I tried to withdraw cash from the ATM machine. After entering the PIN, amount, etc, I waited for some time until finally, the screen displayed a message that the transaction was canceled. No money was spat out. Still, I discovered to my surprise that the whole amount was taken from my account. Apparently, these kind of mistakes may happen when there are network problems between Bhutan and India.

While BNB will make all efforts to reverse the charges in such cases of discrepancy, it is recommended that if you use your ATM, carefully check the account statements. This applies both to cash withdrawals and merchant transactions.

Using the BNB ATM card

The ATM card issued by BNBL is a real upgrade to using checks or cash.

First, it allows withdrawing cash from the ATM machine instead of waiting in line at the bank (up to Nu. 15,000/transaction and maximum of Nu. 30,000/day), as well as when the bank is closed. The two ATM machines in the bank itself are sometimes accessible after hours, and another machine is located in the JOJO building (BNBL claim that there are a total of 10 machines, but I have only located 3).

Second, I use it to pay at various shops, restaurants, and even for paying bills at Bhutan Telecom (main branch). The full list of merchants that accept payment with the BNB ATM card is available on the BNB main page. However, I've encountered at least two places where they claimed that "the machine is not working".

Businesses that want to offer this service can find details here. Another note: although the transaction using the ATM seems immediate, I heard that the money is not automatically transferred into the merchant's account.

For further details on issuing a card see the BNBL webpage.