These ATMs, which dispense US dollars in $100 denominations, can be used by the bank’s customers who have US dollar accounts.

With prestigious titles like “Digital Bank of the Year” from The Asset (which it won five years in a row), UnionBank has made huge waves in the banking industry, and it has no plans of slowing down. In fact, it looks like it is ready to take things to a whole new level.

How? By deploying automated teller machines (ATMs) that can dispense US dollars. 

According to the statement released by UnionBank, these machines are capable of dispensing $100 denominations. However, in order to withdraw dollar bills from these ATMs, a UnionBank customer must first have a US dollar account. Moreover, the bank has also assured that there will be no withdrawal fees for UnionBank customers with US dollar accounts who wish to withdraw from these ATMs. 

Where Dollar-Dispensing ATMs Can Be Found

The first dollar-dispensing ATM was deployed in UnionBank’s main office in Pasig. Other dollar-dispensing ATMs can be found in the bank’s Greenhills branch, as well as its Cebu Wealth branch. 

As of writing, these are the only branches that have dollar-dispensing ATMs. According to UnionBank, it is working “to deploy more dollar-dispensing ATMs in branches of areas that are frequented by UnionBank US Dollar account holders with intensive US dollar transaction requirements.”

A Challenge to the Banking, Fintech Industries

Given the rise of digitization in the country, customers now expect convenience and efficiency with the companies and brands that they transact with. This latest innovation by UnionBank allows them to make their services more accessible and convenient for their customers. 

Gone are the days when US dollar account holders had to transact with a bank teller in order to withdraw money. Now, they can simply walk up to dollar-dispensing ATMs to withdraw $100 bills with no additional hassle. 

This move by the bank likewise challenges other players in the banking and fintech industries to step up their game by coming up with better products that will benefit their clients. Such innovations allow for better service and allow companies to keep up with the times as the rest of the world continues to embrace technology.