The Automated Teller Machine (ATM) is a self-service machine that dispenses cash and performs some human teller functions like balance enquiry, bill payments, mini statement amongst others. The use of ATM in Nigeria has grown rapidly. ATM was introduced into the banking system to solve the problem associated with late night or off banking withdrawal of money.
In 1989, ATM was introduced to Nigeria by the defunct Societe Generale Bank. Since then, ATM appears to have spread across the country. The banking industry, no doubt has witnessed advancement in technology just like any other sector.
ATM usage in Nigeria has increased far above other countries. In view of this, ENCOMIUM Weekly visited some ATM spots and asked people why they prefer using the ATM. Here are their views…
I don’t like the use of ATM because it encourages extravagance. I visit any ATM stand almost every day to withdraw, even at odd hours. With the use of teller to withdraw, it will minimize the rate at which I visit the bank.
I usually think of the queue in the banking hall before withdrawal and that will help minimize the way I spend.
MRS. ADEDAYO ADENIRAN
ATM makes transaction easier and faster. I hop out of my car at any ATM spot whenever I want to withdraw and that saves me the stress of queuing in the banking hall.
MISS OLAIJU TOSIN
Nothing can be compared to the use of ATM for withdrawal. It is easier to operate, fast and convenient. This is the biggest achievement ever in the Nigeria banking sector.
MISS SHAIDAT KAREEM
Though, there are queues at the ATM spots at times, but it can never be compared to the ones in the banking hall. The ATM is better than the use of teller for withdrawal.
I don’t even have an ATM card because of the way I spend. I tend to spend the way I see the money. Using the ATM will minimize this. For instance, if I go clubbing on weekends without an ATM card and a little cash on me, I will know how to spend but with ATM card, I will spend lavishly.
The use of ATM has its own disadvantage as in card theft but on the other way round, it is faster and more convenient. I go to the ATM spot anytime I feel like. The queue is not usually long.
I feel insecured using the ATM so, I prefer going into the banking hall to withdraw. Using the ATM exposes you to a lot of things, as people tend to poke nose in the amount being withdraw.
ATM is better than teller because it gives you easy access to cash in an emergency.
I don’t even have an ATM card because I don’t like it.
PASTOR SAMSON ADEGBOYEGA
ATM is easy and more convenient to use but the charge is outrageous. How can a bank charge N65 on the 4th transaction for using ATM in another bank. What I see in the use of ATM is just the more you use the machine, the more you generate money for the banks.
-MUBARAKAT AKANBI and ARAFAT ADESINA