OCBC Bank Plans To Phase Out Bank Tellers By 2020

If you hate waiting in line just to update your bank account details, just as much as you hate this view;

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Boy, do we have good news for you.

As long as your home bank is OCBC, that is.

No more bank tellers by 2020

OCBC intends to roll out 24-hour digital service kiosks that are “mini-branches”, eliminating the need for bank tellers.

You know, the ladies and gents who sit behind the screen and help you when your number is called after 2 hours.

Now you can look forward to the same services, without the hassle of arduous queues.

Bye bye ticketed waiting

If you’re looking for these services:

  • Updating personal details
  • Activating/deactivating cards for overseas use
  • Changing ATM or debit card limits
  • Large cash withdrawals of up to $10,000
  • Notes & coin deposits

Which are typically conducted over the counter, you won’t have to survive a treacherous ticketed wait any longer.

Save time with high-tech features

According to the bank, customers can save 10 min while depositing coins, or take under 5 min up to update personal details using the new kiosks.

This is way more efficient than the average 15 min wait time over the counter.

Look forward to facial and fingerprint scanners for “biometric authentication”, as well as “signature pads”.

As early as next year, customers may even be able to cash their cheques immediately at new ATMs.

Or, if you so desire, withdraw up to S$200,000 in cash at one go.

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Definitely sounds like a Crazy Rich Asians, high-SES sort of service.

Tech noob? Fret not!

Just like how NTUC has their guides at the self-checkout counters, OCBC will provide staff to guide elderly customers on how to use the new machines.

35 out of 51 OCBC branches in Singapore are set to have these digital self-service kiosks by 2020.

For those worried about whether this would mean bank tellers are out of a job, fret not.

OCBC says that none of their current workers will be fired.

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Instead, they will get “upskilled over the next 5 years” to perform “digital or advisory roles”.

Putting the self back in service

Looks like a future where robots take over the world automated banking is nearer than ever — with OCBC taking bold steps to revolutionise counter-top services as we know them.

Will you miss talking to a bank teller about your problems, or would you prefer doing business with a machine?

We’d love to find out what you think of OCBC’s new kiosks in the comments below.

Featured image from Finews Asia and OCBC.