801 AUTOMATED TELLER MACHINES

801 AUTOMATED TELLER MACHINES

a. Off-site ATMs. Banks may establish off-site ATMs, subject to the following conditions:

(1) Banks shall submit a report to the appropriate department of the Bangko Sentral on ATMs which they establish;

(2) The off-site ATMs shall be installed only in centers of activity like shopping centers, supermarkets, hospitals, university campuses: Provided, That adequate internal control and security measures shall be adopted and submitted to the Bangko Sentral; and

(3) Only banks which have shown general compliance with laws, rules and regulations shall be allowed to open off-site ATMs.

b. Mobile ATMs. Banks may also establish mobile ATMs, subject to the following conditions:

(1) The mobile ATMs should be allowed to visit only centers of activity as mentioned in Item “a(2)” above;

(2) The bank shall secure insurance coverage or adopt a self-insurance scheme to protect itself against losses of whatever nature in its mobile ATM operations; and

(3) The bank shall notify the appropriate department of the Bangko Sentral of the actual date a mobile ATM becomes operational and when no longer in operation.