However, two decades ago, buying and selling were much more transacted in raw cash, which posed threat; there were recurring cases of mishaps on persons conveying bulky monies.
As economies began to change globally, with impetus for advanced Information Technology (IT), the need to embrace cashless payment system became compelling. Today, it is giving rise to Points of Fees (POF) and other forms of online transactions, such as Automated Teller Machine (ATM), Smart Credit Cards (SCC), Micro chips with security devices known as Security Identification Module (SIM), and so on.
With e payment culture evolving in here, therefore, the issue of safety and surety are also taking the centre-stage of public discussion. This is because, on a daily basis, financial institutions, such as banks, are having their networks violated.
The old generation banks, in an attempt to match modern system of banking are fast mounting ATMs, and transferring costs to customers, howbeit, indirectly. Charges are within the range of N100 and N150 irrespective of the amount withdrawn.
Research conducted by the Accountancy Department of the Institute of Management and Technology, IMT, Enugu, indicates that "78 percent of ATM users are unhappy with the banks and are apprehensive that ATM charges may move from 150 to N200.
Some customers who use the machine supported the fact that though the ATMs aid instant cash collection, the increase in banks' monthly charges for ATM withdrawals are unfriendly, unfavorable and discouraging.
Respondents in that research had cited cases of frequent machines disorder, inability to issue receipts, failure to dispense, and, in some cases, dispensing after few minutes of leaving the scene, as disturbing.
The effect of untimely dispensing of cash to its user could be that the wrong person may end up collecting the cash, which leaves its former user at the mercy of the banker, who may debit him for cash not dispensed.
The multiple complaints, perhaps, may imply that little or no consumer right protection is effected. This then, leaves the consumers at the mercy of any decision made by the banks, thus, the need for the Central Bank of Nigeria (CBN) to consider ways of arresting the worrying development.
There is no doubt that the banking halls are now decongested, thanks to e-transaction. But analysts and stakeholders are worried that further increase in charges for inter-bank ATM transactions may be determined by the leading banks on grounds that the amount charged is inadequate to sustain its operations.
Managing Director, Private Media Mart, Lagos, Mr. Ejiofor Agada, said the development is regrettable.
According to him, the over 13 million Nigerian users of ATM cards deserve better treatment. This, he said, could be a better way to begin the journey to the paradise of e-commerce and e-government.
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Autor(en)/Author(s): Chiemerem Umenne
Quelle/Source: The Guardian - Nigeria, 25.01.2009
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