ECOBANK ATM: The 5,000 withdrawal limit create problems for other card users

ECOBANK ATM: The 5,000 withdrawal limit create problems for other card users

Ecobank Nigeria seems to be the worst culprit in the area of limiting other card users on their ATMS. How do you run a cashless society when the ATM and POS are giving unfriendly signals? Should banks be allowed to set certain limit on their ATM because of card users from other banks? These are some of the questions still begging for answers.

If you want to withdraw from Ecobank ATM but you are using card of another bank such as GTBank, First Bank,Zenith Bank and so on, you need to be ready to go up to 10 transactions if you want to withdraw like N50,000.

Gistmaster watched as many people lamented the situation at the ATM located at Ecobank branch in Ogba, Lagos, recently. Same thing happened at the Omole branch. A middle age woman who said she wanted to buy some household items, said she went through hell withdrawing five times because the limit of the ATM was set to N5000 durning the holiday time. “All this frustration is too much” ¬†she lamented.

A security personnel at one Ecobank branches told Gistmaster that the limit is not a new development. According to him, the bank use that as a method to give their customer better service when using their own ATM. In most situations, an ecobank customer can withdraw N20,000 at once, while that of other card users is pegged at N5000!

Tolulope Abiona, a commenter on a post by Sola Salako on Facebook, said ECOBANK started the ATM limit. Dimeji Agbolade confirmed that it is same issue with Ecobank at Covenant University campus,Ota.

Meanwhile Mr Chales kie, Managing Director said in an interview with some select media executives in Lagos that Ecobank is introducing some key innovation that will mark the major revolution in the Nigerian banking sector. “These innovations that are key digital innovations is where the bank is going, and as a group, we yearly set ourselves a target to try and achieve not less than 100 million customers by 2020, of which all we see for Nigeria will transform into not less than 40 million customers. Also, we have designed a clear agenda to achieve that and all these postulate into ensuring that our service to our customers is efficient, and also ensure that our people are up to the task and we are working on that. I am going to give you some of the things we are doing to achieve that.”

Charles Kie,MD Ecobank
Charles Kie, MD Ecobank



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