Banks’ ATMs dispensing cash, withdrawal limit for non-customers slashed
Most banks automated teller machines (ATMs) are dispensing cash for customers to withdraw, contrary to reports that most banks no longer load cash into their machines.
The correspondent, who monitored banks in the Federal Capital Territory (FCT) on Sunday, reports that some customers were seen withdrawing cash.
The NAN study also revealed that most customers using ATMs at their banks were permitted to withdraw higher amounts than customers not using their banks’ ATMs.
At Zenith Bank in Garki, customers with Guaranty Trust Bank (GTB) ATM cards or other banks' ATM cards were only allowed to withdraw N10,000 and below, while those with Zenith Bank’s ATM cards were allowed N20,000 and above.
Also, at First Bank, Nyanya-Jikwoyi Road, customers with other bank’s ATM cards were allowed to withdraw N10,000 and below, while customers with the bank’s ATM card could withdraw up to N20,000.
Mr. Tam Ubose, a customer at the Area 3 branch of GTB, said the withdrawal limit slash was not a new development, as banks had been doing it.
”This is not new; it has been on for some months now, especially during the cashless policy season.
”Banks give preferential treatment to their customers.
”The best thing anyone looking for a lot ofcash should do is use his or her bank’s ATM card or patronise Point of Sale (PoS) operators,” he said.
Mrs. Ijeoma Ukwu, another customer at First Bank, Nyanya-Jikwoyi, said that although it had been rumoured that most banks’ ATMs do not dispense cash, she had yet to experience it.
Ukwu alleged that most bank customers now preferred to patronise PoS operators instead of going to the banks’ ATMs due to the convenience.
Mr. Ade Bello, a PoS operator, said he had many bank accounts and ATM cards that he used to withdraw money.
”Some banks will give you N20,000, while others can only give you N10,000.
”I use almost all my ATM cards when I want to withdraw money for my business, and I usually go in the morning when money is being loaded into the machines.
”It was during that cashless policy thing that we did not see money in ATMs. At that period, I was buying money to save my business, but now the situation is much better,” he said.
On alleged insinuations that most bankers own PoS, hence the limited loading of cash in banks’ ATMs, Bello said the rumour had filtered into his ears.
Bello, who said the rumours had yet to be confirmed, said he was in the business to cater for the needs of his family.
However, Mrs. Susan Obong, a customer at United Bank for Africa (UBA) in Kubwa, alleged that most bank ATMs in the area do not dispense cash, especially during the weekend.
Obong appealed to the Central Bank of Nigeria (CBN) to investigate the allegation with a view to finding punitive measures for the banks involved.
Reacting to the developments, a banker who pleaded anonymity said that banks were constantly loading their machines with cash.
”There is no way a bank will see that there is no cash in their ATM machine, and they will not quickly load it.
”Loading cash in ATMs reduces the number of customers who enter the banking hall and the stress faced by bankers.
”In our bank, we have a stand-by official who will always go and load the ATM with cash.
”We are out to satisfy our customers,” the official said.
Another bank official, who also pleaded anonymity, dismissed the allegation that most bankers own PoS businesses.
”Even though I do not believe this rumour, I do not think it is wrong for someone to own a business as long as you are not going about it the wrong way,” the official said.
