ATM cards

Abiodun Eromosele
The Association of Corporate Affairs Managers of Banks (ACAMB) has said that the implementation of the Bankers Committee’s resolution to scrap the N100 charge on the usage of ATM of banks in which users’ account are not domiciled will soon take full effect.

The association also urged all bank customers to be patient for a short period to allow banks work out the modalities with third party service providers.

In a statement, the association stated that that “the rough edges will be smoothened in a few days” adding that all customers will soon begin to enjoy this new freedom of using any ATM without charge.

According to the association’s President, Mr. Tunde Shofowora, “The agreement (not a directive) to abolish the charge was reached at the bankers committee  meeting (made up of Chief Executive Officers of deposit money banks, directors and top officials of the Central Bank of Nigeria (CBN).

ACAMB pointed out that the modalities would soon be finalised for the few banks that are yet to implement the resolution of the committee.

“Banks are making it as easy as possible for customers to transact their businesses from any location. Providing transaction convenience to customers is strategic to moving the economy forward. The ability to cash money from the nearest ATM could mean a big difference in the business of a bank customer.

“Banks operating in Nigeria have invested billions of naira to acquire hundreds of thousands of PoS and allied facilities and technology to service customers better in the new cashless economy era,” ACAMB said.

The association urged merchants, traders, supermarket operators, and filling station owners to hurry to their banks and collect Point of Sale (PoS) Terminals to facilitate e-payments nationwide.