Skip to content
Finance

Banking systems experience intense Tet surge

By Sarah ChenChina
1 min read
vietnam bank
vietnam bank
In this article (5)

Banks, ATMs, and online banking systems have been overloaded towards the end of the Lunar New Year, forcing customers to wait long hours.

Hoa went to a major bank on Hanoi’s Duy Tan Street early one recent afternoon to process the payment of a loan.

She was happy to notice that her turn would come soon, based on the token number she received, but it took an hour for her to be called.

The bank was full of faces weary from the long wait, which seemed 30 minutes on average. People found ways to occupy themselves, with some even taking out laptops to work while they waited. Others grew restive and frustrated and left early without bothering for their turn to come.

A similar scene has been enacted for several days in many banks. On Tuesday (27th of the last lunar month),  the waiting room of a bank in Hanoi’s Dong Da district had around 50 customers waiting at around 3 p.m. Each and every counter was occupied, and the staff had barely any time to break.

Long queues in front of banks have become a common sight these days. At a mall on the city’s Ba Trieu street, people were also lining up in front of ATMs. Some of the machines are broken, some were overloaded due to a large amount of transactions, and some ran out of cash.

In highly frequented places, the number of customers seeking banking services kept increasing day after day, slowing down every operation.

The situation was not much better with online banking systems, which have also been overloaded. Many users complained they could not access their apps, experienced system failure and encountered long delays in carrying out a transaction.

Questions & Answers

Q.

Why have banking systems experienced an intense surge during this period?

A.

The intense surge in banking systems, including banks, ATMs, and online platforms, occurred towards the end of the Lunar New Year. This period typically sees a high volume of transactions and customer activity, leading to overload.

Q.

What issues were customers facing when trying to use banking services?

A.

Customers faced long waits at physical banks, with some waiting an hour or more, and long queues at ATMs. Many ATMs were broken, overloaded, or had run out of cash. Online banking users reported app access issues and system failures.

Q.

How long were customers typically waiting in bank branches?

A.

While one customer, Hoa, waited an hour, the article states that the average waiting time in bank branches seemed to be 30 minutes. In busy branches, queues for counters were consistently long.

Q.

What problems did online banking users encounter during the surge?

A.

Online banking users reported being unable to access their apps and experienced system failures. They also encountered significant delays when trying to carry out transactions through these overloaded digital platforms.

Reader pulse

What's the biggest lesson for retailers?

19,502 votes so far

Weekly Briefing

Asia's retail intelligence, in your inbox

Tuesday, Thursday and a Saturday Weekly Wrap: the retail stories, numbers and moves that mattered across Asia. Nothing else, and you can unsubscribe in one click.

  • Top industry moves and market shifts
  • Weekly data-driven analysis from across Asia
  • Tuesday, Thursday and the Saturday Weekly Wrap

Read by retail operators, investors and brand teams across Asia.

Protected by a quick human check. No spam, ever. Unsubscribe in one click.

SecureGDPR ready