Taiwan has highest ATM density in the world

Density linked to expansion of convenience stores

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Taiwan has the highest density of ATMs in the world.

Taiwan has the highest density of ATMs in the world. (By Central News Agency)

TAIPEI (Taiwan News) – Taiwan has one Automated Teller Machine (ATM) per 826 residents, giving the island country the highest ATM density in the world.

By the end of April, Taiwan counted a total of 28,451 ATMs, an increase of 1,126 from the previous year, the Financial Supervisory Commission (FSC) announced Wednesday.

The increase was the result of the further expansion of convenience stores which contain one bank’s ATM, despite the simultaneous expansion of electronic and online forms of payment, a report in the Economic Daily said.

Residents had used ATMs a total of 300 million times this year until April, involving transactions totaling NT$3.92 trillion (US$128 billion).

The report said the density of convenience stores played a large part in the number of ATMs, with South Korea only overtaking Taiwan last year. According to data from the Ministry of Economic Affairs, the island counted more than 10,000 convenience stores, or one per 2,211 residents, with South Korea recording one per 1,452 and Japan one per 2,248 residents.

Looking at individual banks, CTBC Bank counted the highest number of ATMs, a total of 5,680, due to its close alliance with convenience store chain 7-Eleven, the Economic Daily reported.

Cathay United Bank came second with almost 3,800 ATMs, Chunghwa Post third with 3,206 of the machines, and Taishin International Bank following closely with 3,180.

Taiwan also counted an average of 4.2 credit cards per person, including the elderly and the very young, according to the report.