The Central Bank of Nigeria has directed banks to ensure to resolve all Automated Teller Machine (ATM) cardholders’ complaints within a maximum of 72 hours from the date of receipt the complaints or face sanctions. This is contained in a new set of rules to guide transactions, going forward. Where records are falsified by any party, the CBN warns that adequate sanctions shall apply.

In an exposure draft on the standards and guidelines on electronic channels operations in Nigeria, signed Dipo Fatokun, its Director Banking and Payments System Department, the CBN also directed banks or independent organizations that deploy ATM for the use of the public to ensure that the ATM vault replenishment must be carried out as often as possible to avoid cash-out.

They are also to ensure that ATMs are not stocked with unfit notes and that cash is available in the machines at all time.

The CBN also warned that the ATM downtime (due to technical fault) must not be more than seventy-two (72) hours consecutively.

It added however, that where this is not practicable, customers shall be duly informed by the deployer.

They are also to ensure that the helpdesk contacts are adequately displayed at the ATM terminals.

It warned that at the minimum, a telephone line should be dedicated for fault reporting and such telephone line shall be functional and manned at all times that the ATM is operational.

Also, all ATM charges must be fully disclosed to customers, the CBN insists in the new rules.

The apex bank said that there must be appropriate monitoring mechanism to determine failure to dispense cash; and that there is online monitoring mechanism to determine ATM vault cash levels.

“Penalties Sanctions, in the form of monetary penalties / or suspension of the acquiring/processing service (s) or both, would be imposed on erring institutions for failure to comply with any of the provisions of the ATM standards and guidelines or any other relevant guidelines issued by the CBN from time to time,” the apex bank warned.

The funding and operation of the ATM deployed by non-bank institutions should be the sole responsibility of the bank or institutions that entered into agreement with them for cash provisioning and in this regard, the Service Level Agreement (SLA) should specify the responsibilities of each of the parties.

The CBN rules noted that Change of PIN must be provided to customers free of charge throughout the entire value chain, while acquirers monitor suspicious transactions and report statistics to CBN based on the agreed format and timeframe.

Back-up power (inverter) is made available at all ATM locations in such a way that the machine would not cease operation while in the middle of a transaction, the CBN said, adding that Waste disposal basket must be provided at all ATM locations.

A register of all their ATMs in Nigeria with location, identification, serial number of the machines, etc must also be maintained, going forward.

For security reasons, every ATM is required to have cameras which would view and record all ATM Security. “However, such cameras should not be able to record the key strokes of customers using the ATM,” the CBN further noted in the statement pasted on its website.

The CBN now requires any institution which operates an ATM to file an updated list of such machines, including the detail location of their addresses with its Banking & Payments System Department for compliance monitoring.

The CBN also disclosed that it will conduct onsite snap checking of ATMs with a view to ensuring compliance with cash and service availability at the ATMs, as it directed acquirers to report volume and value of transactions on monthly basis to its Director, Banking & Payments System Department.

http://businessdayonline.com/2015/09/cbn-hands-out-new-rules-on-atm-operations-in-nigeria/ lalasticlala

They are also to ensure that ATMs are not
stocked with unfit notes and that cash is
available in the machines at all time.


This is the part i like the most. Most banks stocked machine with unfit notes and will not allow you deposit same into thier ATM that received cash on deposit.

Good moves by CBN but only if CBN can keep track of all the rules and sanction banks that refused to comply.

The apex bank said that there must be appropriate monitoring mechanism to determine failure to dispense cash; and that there is online monitoring mechanism to determine ATM vault cash levels

The best so far

At times you will need to wait for hours and the silly machine go dey tell you "pls wait while your transaction is processing" without paying you.

Ok....... CBN you forgot the 65# Charge from my account each Time I do a transaction outside my bank's ATM, even when my Bank is far away from were I am......


#sad______ I miss SANUSI LAMIDO jor....

Good move...so overdue...& ds '5-working-day' thing go stop soon

Noted

Pmb Old wine

This a welcome development. I still have the believe the some WAILERS sorry people will flood this forum to rant PMB's government is not doing anything about the economy as if this so called ministers when appointed can do more than what their predecessors did when the past clueless government was in power !!!

Too much it should be 1hr - 24hrs
Sai Buhari

isokay

High time service is delivered proficiently. They know how to remove transaction services charge but are slow to reconcile or ensure quality service with the ATM. The CBN should please enforce compliance. Also CBN should please reconsider the daily withdrawal limits.

Ok

haha ok oooo

Even Emefiele is now championing Change?

They must have changed his battery and memory card.

Na Every day CBN dey draft new policies on ATM.

Kkk

Nice

only the dead not even a blind and dumb will see there are changes in the country.
nice one from the apex bank.

When u have a good leader,all things fall in place.So CBN just woke up to their responsibilities.Na wa ooooo.UBA!Una own don finish.

Everyone now doing their jobs as it should be done. Change is here....

So I can collect money without frustrating experiences at the ATM machine.

Ok

..good words,awaiting actions ..

This is like the best news in September 2015.


My bank with their "issuer or switch inoperative" I am coming for you!!!

Gbam

All these na grammer...... no be for state like Kogi these ones go work o. Banks and ATM over here are something else (Idah to be precise)

..

Seems like I'm starting to feel this thing called body language, our institutions are now sitting up