“With the introduction of Automated Teller Machines (ATMs), bank
customers heaved a sigh of relief, thinking this will ease the difficulties faced
in withdrawing money and reducing the long queues and waiting experienced in banks.
This innovation was
lauded in the sector,
especially as various
banks stopped attending to customers whose
withdrawals fall below N100,000 across the counter; thus mandating them to use the machine.
This introduction led to the mad rush for ATM cards. This enabled withdrawals at odd times, like at night when banks would have closed
shop for the day or at
weekends and on
The machines, to a large extent, really eased challenges customers face
as they dispense money faster. While Nigerians are carried away in the euphoria so created, some banks, especially
those in semi-urban areas begin to put up poor services, their networks going off-and-on, making
customers to spend long man hours at ATM centres, especially at weekends and month
ends. This almost made the idea of using ATM in
some locations or parts of the country difficult, as the machines would not
bring out money, forcing customers to use of their
cheque books for as little as N1,000.”
READ FULL CONTENT at Faulty ATMs and return of queues in banks.