guidelines on atm in nigeria • Helar

Q1371. I was surprised to see an ATM in the premises of a big company that is not a bank, I don’t think this is proper, what is the position of law on this?

It is proper. As stated in the Central Bank of Nigeria’s Guideline on operations of Electronic payment channels in Nigeria {3 1(k) }, a non-bank institution can fund the operations of an ATM

Q1372. If a non-bank institution is funding the operations of an ATM, will they do it solely or in partnership with a bank?

ATM deployed by non-bank institution will be partly managed by a bank that they must have entered into an agreement with for cash provisioning. The service level agreement (SLA) will specify the responsibilities of each of the parties. CBN GUIDELINE ON OPERATIONS OF ELECTRONIS PAYMENT CHANNELS IN NIGERIA

Q1373. How will the banks be contacted if a breakdown occurs?

As stated in the guidelines, the Central Bank of Nigeria directed banks to adequately display contacts at the ATM terminals, dedicated for fault reporting and such telephone lines should functional

Q1374. What happens if such ATM is not fixed within 72 hours?

The law as stated in the guidelines is that, where fixing the ATM within 72 hours is not practicable, customers shall be duly informed by the bank. See CBN GUIDELINE ON OPERATIONS OF ELECTRONIS PAYMENT CHANNELS IN NIGERIA

Q1375. My banks is in the habit of always deducting money from my account. I have no knowledge of how much they even charge, is this proper?

No, the Central Bank of Nigeria directed all banks that all ATM charges should be fully disclosed to customers. See CBN GUIDELINE ON OPERATIONS OF ELECTRONIS PAYMENT CHANNELS IN NIGERIA

Q1376. I went to one of the ATM’s within town with Jonathan last week to make withdrawals, after dispensing the cash, we realised that some notes are completely damaged, are banks supposed to stock the machine with such notes?

No, The CBN’s directive is that ATM’s are not to be stocked with unfit notes GUIDELINE ON OPERATIONS OF ELECTRONIS PAYMENT CHANNELS I N NIGERIA 1.3 (j)

Q1377. I told my friend Ucheoma that it is wrong for a bank to halt withdrawals at ATMs just because they want to carry out a maintenance work without letting customers know previously but is this the true position?

Banks are instructed via the guidelines that notice should be displayed at the ATM for planned maintenance period and disruption to services not convinced.

Q1378. The only ATM in our street has broken down for nearly a week, there are no signs of it being repaired and there is no information on the state of things, what is the bank expected to do concerning it?

The central Bank regulates all banks in Nigeria (section 2 (d) and 47 (2) of the control Bank of Nigeria Act, 2007, in the CBN Guidelines and on operations of electronic payment channels in Nigeria directed that, the ATM downtime (due to technical faults) is not more than seventy-two hours consecutively, which means, banks are expected to work on such ATM within two days.

Q1379. I went to make withdrawals in one of the ATM’s around my house, unfortunately, the money didn’t come out but I was debited, will my bank refund the money?

Yes, In line with the guidelines, banks shall reconcile and refund all funds in their possession, belonging to customer as a result of ATM’s non-dispense and partial dispense errors.