TRICKS: Why banks insist on the use of ATM even when it’s not working

This is the new set of business for banking sectors in Nigeria. I never knew that banks can also steal from own customers until I heard the inside story behind the arrest of Mr Innocent Chukwuma of INNOSON Ltd and GTB bank.

TRICKS: Why banks insist on the use of ATM even when it’s not working-Surge.ng
Queue at First Bank ATM/ Photo credit: Facebook

A Nigerian facebook user, Charles Ugonwanne Okoroafor has shared his dissatisfaction in the Nigerian banking sector. Charles said that most banks have programmed their ATM in such a way that it pays only customers with other bank ATM cards instead of their own customers. The facebook user alleged that the reason for doing that is for the banks to make extra 65naira from external customers.

Charles gave clue to why Nigerians experience some irregularities at the banks, ranging from why customers are required to withdraw only 5000 naira at a go, and do it repeatedly if the customer needs up to 100,000 to why customer’s ATM card hardly work at the bank that issued the card.

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Charles said:

‘’This is first bank of Nigeria, as you can see people queue up to withdraw their money from the ATM. To my own astonishment, this bank ATM only pays those with other bank ATM Card just because of the 65naira charge they make from non-customer’s withdrawals, thereby refusing their own customers to withdraw from their bank ATM.

‘’Now If you decides to go inside and cash your money in the banking hall, their cashiers will refer you back to the ATM or rather to pick up a stamped withdrawal slip from their customer care representative where you will be compelled to fill and sign a form that will authorize them to debit you 50naira or more depending on the amount you want to withdraw, failure to comply with their directives, you will be left with only one option which is either to obey or to use another bank’s ATM where you will be charged the same 65naira per transaction.

‘’I believe other banks are not exempted from this devilish act of ripping their customers. Even most bank reprogrammed their ATM to dispense from 5000naira downwards, now if you want to withdraw up to 100,000 naira, you will be automatically compelled to withdraw 5000 by 20 times while they charge you 65naira per withdrawal for the 20 times withdrawals which is a total of 1300naira from one customer.

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‘’This is the new set of business for banking sectors in Nigeria. I never knew that banks can also steal from own customers until I heard the inside story behind the arrest of Mr Innocent Chukwuma of INNOSON Ltd and GTB bank.

‘’What an eye opener? Yet EFCC, APC, PDP and ICPC are busy witch-hunting themselves in the name of fighting corruption while the big criminals are busy looting and ripping the ordinary people. Nigeria is fantastically corruption indeed.’’

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