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HFC Bank Increases ATM Withdrawal Limit To $2000

According to HFC’s chief executive officer Rakesh Ram, this new promotion would allow customers to have an increased limit to withdraw money during a day.
04 Jun 2019 18:18
HFC Bank Increases ATM Withdrawal Limit To $2000
HFC Bank

HFC Bank’s automated teller machine (ATM) daily cash withdrawal limit has been increased from $1000 to $2000 per day.

This came into effect last Saturday.

However, the interchange facility through Westpac ATMs remains at $1000 per day.

According to HFC’s chief executive officer Rakesh Ram, this new promotion would allow customers to have an increased limit to withdraw money during a day.
Interchange Facility

Mr Ram said they are currently working on branching out their interchange facilities to ANZ Bank and the Bank South Pacific.

“With the limited ATMs available for HFC, customers would be able to use other Banks ATMs with an associated fee,” Mr Ram said.

“We also have a limited amount of ATMs for HFC, but we have an interchange arrangement, anybody who has an HFC debit or credit card can withdraw from $1000 per day.

“In terms of our interface arrangement, we are currently working with other banks like the ANZ and BSP to increase our interchange facility.

“We are currently in negotiation with those banks, but we have successfully done this inception with Westpac which is working very well.”

HFC’s chief executive officer Rakesh Ram. Photo: Maraia Vula.

HFC’s chief executive officer Rakesh Ram. Photo: Maraia Vula.

Mr Ram added this was also in line with Governments initiative for a cashless economy.

“We need to give more people and customers more access to digital technology and plastic money, so we increased our limit,” he added.

“The Bank has done reasonably well seeing that we are in a competitive market and for the first 11 months we are ahead of our budget and we should be able to produce a strong performance by 2019.”

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