LAGOS -The Central Bank of Nigeria, CBN, has rolled out new guidelines for the deployment of offsite Automated Teller Machines, ATMs, by banks and Independent ATM Deployers, IAD, giving banks and other ATM deployers the authority to charge customers a maximum of N100 per transaction on their ATMs.
According to a circular by the CBN to all banks, IADs, Cash-in-Transit companies and Switches, the guidelines is in line with its cashless policy objectives and in view of the critical role ATM deployment and availability play in ensuring the success of the policy.
The circular by Mr. Gaius Emokpae, Acting Director, Banking and Payments System Department, CBN, said the transaction fees shall remain pegged at a maximum of N100 per transaction for all ATMs, adding, however, that the ATMs shall clearly display the transaction fees for card holders to accept before the transaction was consummated.
In the new guideline, Emokpae said, henceforth, banks and IADs will be allowed to acquire and deploy off-site ATMs and also be free to brand the offsite ATMs they acquire, and process their transactions accordingly.
The CBN further directed that the banks and IADs should ensure the provision of cash for their off-site ATMs.
The CBN gave banks and IADs the latitude to enter into agreement in the deployment of the ATMs, stating that the banks shall have the option to engage lADs to deploy, maintain and support off-site ATMs, adding, however, in such a case, the banks and the IADs shall agree on the service scope and the charges/fees.
Emokpae said further: “All ATMs (off-site and on-site) shall have a minimum uptime of 95 per cent going forward. For the avoidance of doubt, ATM uptime refers to ATM availability from the customers’ perspective including but not limited to network availability, and availability of cash.
“This shall be monitored routinely, with strict sanctions applied in the case of non-compliance. All ATMs shall have cameras and other security measures deployed to deter and prevent fraud. All ATMs shall accept at the minimum the following cards: Visa, MasterCard and Verve.
“All ATMs shall present the same set of services (Menu Options) to all the cards they accept. There shall be no discrimination of card with regard to service offering allowed on any ATM deployed.
“The provisions of this circular shall take precedence, in the event of any conflict between it and previous guidelines regarding ATM operations/ deployment.”
SOURCE: Vanguard Newspaper, 7 November 2011.http://www.vanguardngr.com/
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