The Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) is actively selling off its old ATM machines, a move driven by evolving consumer habits and the increasing dominance of cashless payment methods. According to the State Bank of Vietnam, traditional cash withdrawals are being replaced, leading to a significant shift. As of the end of March, the number of ATMs nationwide decreased by 3% compared to the same period last year, and the volume of cash withdrawal transactions through this channel also dropped by 9%.

In line with this trend, VietinBank's Ha Giang branch announced on 14/10 the liquidation of one ATM that had been in use since 2018. This machine, originally costing 748 million dong, is now damaged and no longer meets operational requirements, making it redundant. The equipment is fully depreciated, with a book value of 0. The bank set the starting price for this unit at 2,2 million dong, with the buyer responsible for all dismantling and transport costs.

This follows similar actions last month, when two other VietinBank branches, in Ben Tre and TP HCM, also liquidated 10 old ATMs. Specifically, the Ben Tre branch advertised a lot of 6 machines that had been in use from 2007 to 2009. These devices are fully depreciated, have low configurations, do not meet EMV standards, possess some broken parts, have ceased maintenance, and are currently in storage. The starting price for the entire lot was 4,2 million dong, equivalent to 700.000 dong per machine. Concurrently, in TP HCM, VietinBank liquidated 4 old, damaged ATMs, each with a starting price of 1,5 million dong.