The program, developed by the Rural Development Bank (Banrural), began in 2005 with 108 machines, and now has 420 multilingual ATMs, which as well as offering instructions in Spanish, can also cater to Mayan speakers of Quiche, Cakchiquel, Q'eqchi ', Ixil, Mam and q'anjob'al.
Sergei Walter from Banrural, explained that these cash machines have enabled them to offer financing to a population that previously only had access to local lenders, "who offered an efficient 24 hour service, but with penalties of 10 percent per day, which translates to annual interest of close to three thousand per cent ", whereas the bank charges 22% annually.
"The cash machines have been very well accepted, especially in the area of the Guatemalan highlands, where much of the population has limited access to everything," said Walter to Prensalibre.com.
Source: prensalibre.com
More on this topic
October 2009
"Banco Nacional" has invited $1 million bids for supplying and installing automatic teller machines.
According to the bidding rules, participants must bid for supplying and installing 40 "Cash Dispenser" ATMs, to be fitted in the walls of the various branches of the Bank, 10 Lobby "Cash Dispenser" indoors ATMs, and 2 ATMs for vehicle service.
March 2009
The ATM business has a lot of room to grow in Guatemala where the banking market is still in its beginning stages.
An article published in La Prensa Libre in Guatemala analyzed the market for ATMs in the country. At present, three companies compete for the market: T&T, with 1,100 ATMs, Banco Industrial with 546 and BAC-Credomatic with 100.
April 2010
The company unveiled its new Automatic Teller Machine, available in 25 locations.
This new ATM lets clients pay credit cards, make deposits and transfer funds between pre registered BAC accounts. $1.5 million were invested in this project.
From Laestrella.com.pa: “Sabina Ríos, vice president of Channels and Distribution at BAC Credomatic, explained that Panama is the second country in the region to benefit from this technology, after Costa Rica”.
español
1895
