The use of ATM in Nigeria is growing rapidly, experts are of the opinion banks have no business installing, running and Managing them; could this be a money making venture for budding entrepreneurs who can set up and manage ATM franchise business in Nigeria?

if this is anything to engage in , how can one get involved , i am highly interested cos the awareness is rapidly growing in Niga.Pls i want more info on how to go about it.

Propre:

The use of ATM in Nigeria is growing rapidly, experts are of the opinion banks have no business installing, running and Managing them; could this be a money making venture for budding entrepreneurs who can set up and manage ATM franchise business in Nigeria?

If banks have no business installing, running and managing them, then who does? Shell Petroleum Development Company (SPDC)
Enlighten me please.

Wow finally ATM is the next step after mobile fones!!! can't say i didnt see it coming but geez it was about time even small Togo that most Nigerians refer to as a village and not a country had ATM five (or more) years ago. of course it was only a few at strategic points

This might be a dumb question So if there are atms springing everywhere does that mean that there are now bank cards and stuff in Nigeria now?

Jus like I expected Insult the accomplishment. It's good period!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

ATM technology use is developing in naija certainly. But i have had a bad experience with those machines sha so far, especially on those days i needed them most. a good example is last christmas when i chose not withdraw at my bank cos of the risk of traveling with cash. i was all over town looking for a functional machine, but my efforts met with, "out of order, pls try later", , "temporarily unavailable", , "out of use" etc. banks that were kind enough to station personel at the locations will tell you," cash just finished, ", or." yet to be loaded".

by and large i would advice anyone who would not be able to do without this technology to consider having both interswitch and quickcash cards just in case one dissapoints, the other may not. i saw the wisdom of this last christmas, though that will mean having bank accounts with 2 banks on the different platforms. e.g zenith(interswitch) and etb(quickcash)

ITs a welcome Development and for the complaints sorroundng ATM, i believe it would take the banks some time to make it work effectively.Its a new born baby and it needs time to grow, lets give it a chance. you now see ATM in Mr Bigs and in shopping malls.

@Rottweiler

Leaving the banks alone to run ATM will limit the rate of growth and development of ATM technology in Nigeria, there is also the issue of connectivity i.e. a bank customer being able to use his/her card on another banks network, although this is already happening, it however only happens when a bank shares the same ATM connectivity platform provided by companies interswitch

There is a school of thought that if investors and entrepreneurs are involved in this business they can make ATM more accessible by partnering with Store, café, restaurant hotel, etc owners to install and manage ATM in high human traffic areas like those mention above this will make ATM more accessible and reduce the queue currently being experienced at some ATM locations across the country. This service will of course be at a fee like it happens in the developed world where you have to pay a fee to use certain private ATM and this revenue can then be shared between the investors/entrepreneurs and location owners.

ATM can be used for much more stuff than just taking out cash, for example you can pay your bill at ATM, top up your mobile phone among other things, by getting the private investors/entrepreneurs involved in this concept it with provide an avenue for innovations to ensure ATM use are maximised.

Do you have a different view? Then let’s hear your view.

Propre you highlighted what would happen in every "normal" situation. It didn't need a damning report to show that banks had no business running ATM machines. Last christmas i was faced with the same problems experienced by some of the contributors on this page the "OUT OF ORDER" ATM's.
This led me to quickly take a short study on how ATM's are managed here in the UK. I realised there were dedicated maintenance companies who either offered 1st Level service or second level service.
Brothers if only our banks will open up and be transparent, the maintenance part of the ATM's will generate new business and income for a new group of entrepreneurs.
I will be in the country (Lagos) from the 3rd of june until the 15th of june 2006. Lets hook up and discuss further

the "out of order" issue is even a normal thing, Most times (especially weekends),when u really need cash.
Last december i had a nasty experience in lagos, i tried getting money out of an atm machine somewhere on the island,my account was debited,but the money never came out of the machine.it took more than one month for my account to be credited back,and on two seprate occasions,i was made to write a letter of complaint to my bank!

I have found it very hard to use the ATM, becos they are always out of order or not in ue. I dont think the timing is rite, if we cant get it when we want it.

ATM automated teller machine are largely not managed by banks at all. alot of companys are involve. its like ur jamb scratch card all bank can issue u a card butd pin is owned by JAMB. the bank help issues it and and the pins are managed by a firm. so dnt get ir wrong ATM has been around 4 a while . we thank God sha d wahal in bank halls will be reduced. u can make ur withdrawal frm any were as long as is compatable with ur card such as interswitch etc.

in fact armed robbers are in trouble, cos very soon if them come person how them gho de help am count chairs and table cos no money to steal. every body don de travel with empty pockets now once you know say you get where you gho collect money any time or day. ATM you too much ohhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh
Te---ky----no-----lo------gyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyyy

is it free to withdraw money from the banks ATMs?

Can the cards be used anywhere,shops, banks?

Most of the ATMs in Nigeria are managed by a private firm known as Interswitch. This firm is currently running almost a monopoly, although the business is yet to solidify due to a few teething problems. Consequently, any prospective investor in this regard must bear this in mind.

Why does Union bank not use ATM?

And who said UNION Bank Dont use ATM? Contact your branch for more details cus right now every bank issue ATM card to both savings and Current account holders. No doubt its a new technology and it needs some time,.

We need to give it a chance, its the right timing and like someone said, we need more private investors to come into the ATM business.

breez:

ATM technology use is developing in naija certainly. But i have had a bad experience with those machines sha so far, especially on those days i needed them most. a good example is last christmas when i chose not withdraw at my bank because of the risk of traveling with cash. i was all over town looking for a functional machine, but my efforts met with, "out of order, please try later", , "temporarily unavailable", , "out of use" etc. banks that were kind enough to station personel at the locations will tell you," cash just finished, ", or." yet to be loaded".

by and large i would advice anyone who would not be able to do without this technology to consider having both interswitch and quickcash cards just in case one dissapoints, the other may not. i saw the wisdom of this last christmas, though that will mean having bank accounts with 2 banks on the different platforms. e.g zenith(interswitch) and etb(quickcash)

@breeze, funny enough, i've not had those situations with ATM's. Infact they have always seemed to help out whenever i'm stranded.
Interswitch like ramano mentioned, is a connecting platform for the banks. Some banks are not yet connected on that platform but they have their own personal network like diamond bank so when u try to use a first bank atm card for instance on a diamond bank atm machine, it will definitely not connect cos diamond bank is not on the Interswitch platform(except they just joined sha).

There is a school of thought that if investors and entrepreneurs are involved in this business they can make ATM more accessible by partnering with Store, café, restaurant hotel, etc owners to install and manage ATM in high human traffic areas like those mention above this will make ATM more accessible and reduce the queue currently being experienced at some ATM locations across the country. This service will of course be at a fee like it happens in the developed world where you have to pay a fee to use certain private ATM and this revenue can then be shared between the investors/entrepreneurs and location owners.

@propre, ATM's are already being used in Fast food joints and resturants. at least i know of mr biggs,chicken republic and mama cass.
I think the private investor here is Quickcash and they are on the Interswitch platform too so if your bank is on the interswitch then you can use your atm card on a quickcash atm.
Another thing is that if you're not using the card on your banks ATM, you'll be billed an additional 100naira. like using first bank card on a zenith atm will cost me 100naira extra but using first bank on first bank atm will cost me nothing extra cos its my bank.
also there's a limit on the amount you can withdraw per day but really, its been a welcome relief to have ATM's around!

ATM's really are a big relief for those of us that still use old generation banks wher you have to cue up for your money

Shinor, I really like ur observation, I am in Lagos and am interested in this talk. my email=ambokeymadubuike@yahoo.ca. Catch u dear.

ATMs have been very helpful for me.Yes Interswitch is the dominant switch company.THis is beuacse they deployed their ATMs farther thna the competition and also because it is owned by several of the major banks in Nigeria.

This is the way it works, If you use it in the ATM of the bank that issued it, you withdraw from the machine without any extra charge outside normal transaction.If you use another bank apart from your bank, you are charged by that bank 100 naira apart from the amount your bank will normally charge.

You can only use it three times in a day and I think the maximum you can withdraw per transaction is 20,000.That means for a day, you can only withdraw a maximum of 60,000.

And the latest news is that the new cards coming can be used for the two ATM platforms in Nigeria.Quick cash (powered by Chams,I think ) and Interswitch.My friend who uses GTbank as I do said that is the resaon why his card is being delayed.This new 'generation cards' will be able to withdraw from the two platforms.

With the numebr of queue I see shen i go to withdraw, we need more machines deployed.It has reduced my need to use my chequebook except for serious withdrawals.

Lastly,ATM calls for serous dsicpline.That was what I found out the week I got mine.Something at the back of your mind tells you the money is available and you keep spending it like that. If you are given to impulsive buying, get a secondary account and do not place it on your ATM.

By the way, it took me about a month to get mine at GTbank.I learnt that it is easier now.

Hope this helps someone!

UBA issues ATM cards to all their customers and they charge N100 per month whether you use the card or not. The problem is that when you really need to, the ATM its out of money. Another disadvantage is that its right inside the bank so outside working hours just forget it.

I think there is a whole load of misconception and mis-statement of facts here!!!
Definitions
Interswitch:
A switching company that enables the interconnection of banks. It enables users transact business with banks registered under the service. Therefore, you may be able to check your UBA A/C balance on a First Bank's ATM or make payments using your debit cards. It is debit driven. More info on www.interswitchng.com.
Interswitch does not buy and deploy ATMs, please note that. They only provide the platform for interconnection. More like the Telecoms industry interconnection idea.

Banks:
Financial institutions with the financial muscles(ATMs are very expensive,  believe me) to purchase, deploy, manage, and service ATMs. They issue the ATM cards (debit cards). They manage the ATMs via the help of the manufacturers or support companies (e.g NCR, a big multinational company www.ncr.com; DPMS,that manages the Diebold range of ATMs; ATMC - check ATMC definition)

ATMC:
Acronym for ATM Consortium. A company formed by a group of banks in Nigeria to jointly deploy and manage ATMs.

Enough of definitions. There are already companies that are involved in the services, support, etc., of ATMs. One of such is NCR Nigeria. Managing of ATMs is a highly specialised field and well managed.

It is advisable if you are interested in supporting ATMs to work for one of these companies, or in the bank's ebusiness or ATM or Cards department.

I hope you get the picture now and you can put Interswitch in the right perspective.
Also note that Interswitch is a good thing that has happened to this country. Etransact also.

Responses are welcome!!
Cheers

hi
plaese can you feed me me on how to be an atm machine engineer in Nigeria, if there is any or its aboad

I think ATM in nigeria are now improving with the way internet is going in nigeria,I believe as time goes on we will get their.

ATM technology in nigeria