Benefits of using ATM in Nigeria

Posted by Felix Okoli on Monday December 23, 2013 at 15:48:15:

Automated Teller Machine (ATM) is a teller machine, set up by financial institutions like Banks, to enable Customers access their Accounts and make transactions through the machine. To perform such transactions, a customer has to obtain an ATM card from his bank. The ATM card is a plastic card, which is magnetically coded and it can be easily read by the machine. The ATM card also a unique PIN for secured transactions. ATM is used to make different transactions like withdrawal of money, transfer of money to another account, loading of recharge cards, paying of utility bills.

Many Nigerians are yet to fully understand the importance of using an ATM. This is why you still see a long queue of people making physical transactions anytime you work into any Banking hall

- ATM PROVIDES 24 HOURS banking SERVICE: ATMs are set up to provide 24 hours Service unlike the normal Banking time that operates from 8am to 4pm. Notwithstanding the time of the day it is, anybody can walk into any ATM around and make a transaction. This serves well in situations of emergency that has to do with cash after Banking hours, what the person has to do is walk into any ATM stand around the person and withdraw cash.

-ATM HELPS SAVE TIME: Instead of wasting a lot of time in Banking hall standing on queues, you can just walk into any ATM stand and make your transactions without wasting much time.

-ATM HELPS TO REDUCE THE WORKLOAD OF BANK STAFF: When a lot of people make use of ATM to make their transactions, it will help reduce the workload and pressures of Bank Staff; it also helps to reduce unnecessary queues and rowdiness inside the Banking hall. That is why a lot of Banks encourage their Customers to make use of their ATM cards by charging fee on withdrawals made inside the Banking halls.

-USED FOR ONLINE TRANSACTIONS: ATM cards issues by Banks can be used to make online transactions and pay for services online. You can use your ATMs to shop on e-commerce sites, make the payments with your ATM cars and have the goods delivered to your door step.

- ATM IS VERY BENEFICIAL FOR PEOPLE THAT TRAVEL A LOT: People that travel a lot especially for business purposes find it very risky and inconvenient to travel with a lot of cash on them. With the availability of ATM, the Traveler can just travel with an ATM card instead of cash, and make the transition when they get to their destination.

- ATM TRANSACTIONS ARE VERY SAFE AND SECURED: ATMs are projected to make safe and error free transactions. The customer can obtain exact amount. There are little or no human errors as far as ATMs are concerned.

This article has outlined some of the benefits of using ATM in Nigeria and the major Ccnveniences which ATM cards services everybody. Banks encourage the use of ATM by making ATM transactions free of charge.