Interbank ATM usage records high turnout

Ghana Interbank Payment and Settlement Systems (GhIPSS) has said the customers’ use of the ATMs of other banks following the launch of the shared ATM platform has experienced a significant growth of transactions per week.

The gh-link Interbank ATM Transaction Switching, platform which began on pilot basis in August this year, recorded transactions within the range of only 4 to 88 per week in the first month.

However currently, the interbank ATM transaction has hit 1,224 per week, which represents an increase of some 76 percent since it was launched on November 21.

The Interbank ATM Transaction Switching platform enables bank customers to use their local cards in the ATM outlets of other banks.

Currently 15 banks including Barclays Bank, Standard Chartered Bank, Ghana Commercial Bank, Ecobank and Stanbic Bank are connected to the gh-link platform to enable their customers to enjoy this service.

Other connected banks are Zenith Bank, United Bank for Africa, Agriculture Development Bank, Unibank, Access Bank, UT Bank, and HFC Bank.

Mr Archie Hesse, the Chief Executive of GhIPSS, speaking to the GNA, said processing other banks yet to join the Interbank Switching Platform, were at various stages of completion and their customers would also begin to enjoy the service shortly.

The report, which covers transactions from the end of August to December, said Zenith bank’s ATM services was the most used facility in the period under review.

Over 2,770 transactions took place on Zenith bank ATMs, while customers of Zenith Bank who used the ATMs of other banks amounted to only 4 transactions.

The Agriculture Development Bank also had 591 transactions on its ATM by non-customers, while its customers undertook 1,115 transactions on the ATMs of other banks.

Mr Hesse said the patronage of ATMs depended more on their reliability and location rather than the number of outlets and that the perception that the smaller banks would only “parasite” on the extensive network of the bigger banks was not supported by the available data.

He said the strategic location of ATMs rather could be the main factor leading to the extent of its usage.

Mr Hesse said since there was some charges when a bank’s ATM was used by non-customers, while the customer on the other hand was enjoying convenience, the service represented a win-win situation.

The GhIPSS Boss, who was pleased with the increasing number of people using the ATMs of other banks, said the company would embark on a massive education to ensure that the number of transactions moves from the current figure improves.

He urged bank customers with local ATM cards, not to go roaming in search of their bank’s ATM but to use any ATM outlet of the 15 banks currently connected to the gh-link platform.