ATM deployers in Beijing might need to rethink their cash cycle management. Several banks in the Chinese capital have raised their ATM cash withdrawal limits recently, increasing the allowed amount by 100 percent or more.
An article in the Beijing Daily found that China Communication Bank and China Merchants Bank had set the highest limits at 10,000 yuan ($1,568), while the Industrial and Commercial Bank of China had increased its limit to just 3,000 yuan ($470) from a previous cap of 2,500 yuan ($392).
Many ATM users are pleased with the banks' decision to raise limits, noting that it will reduce not only the number of trips to the ATM, but also the amount they will pay in transaction fees.
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