ATM means Automatic Teller Machine. An ATM is a machine that dispenses cash to account holders. The transaction is initiated and concluded with the use of a magnetic stripe card or smart card.
The ATM card has either a magnetic stripe or a processor (or chip) that allows data or information to be stored or processed in it. ATMs are a quick and convenient way to access money in your accounts.
The benefits of the ATM
24-hour access to accounts.
Transfer of funds
Balance inquiries
Printing of mini statements and account statements.
Cash withdrawals, e.t.c.
This is an advantage to tourist and travelers faced with the problem of exchange or money transfer. It will eliminate the problem of traveling with so much travelers check amongst all other factors.
At the same time you have to be careful of Online Scam artist, below is an example of the kind of email they usually send
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LEGAL DISCLAIMER
ONLINE FRAUD ALERT
Dear Valued Customer,
We have noticed that online scam artists are on the rise to defraud unsuspecting Internet Banking users.
They are asking customers to provide sensitive information on their account details for Account Update by clicking on spurious Internet banking website links. The request may come in various forms.
Customers should on no account act on such unsolicited instruction by email to visit any website in order to restore/change his/her confidential account details or otherwise divulge his/her user name and password to anyone. .
UBA PLC, have not requested and will never request by mail any UBA account holder’s details or ATM card PIN number for an account upgrade or any other reason. In the event that a customer requires upgrading his/her account he/she will be asked to visit his/her relationship manager at account branch.
UBA customers are advised to secure their Internet banking passwords and ATM Card PINS with utmost confidentiality as the Bank shall not be liable to any customer for any loss arising from a third party having access to such passwords and PINS to defraud the customer.
BE WARNED.
+++++++++++++++++++++++++++++++++++++++++++++++LIST OF PARTICIPATING BANKS IN NIGERIA
1. Zenith bank
2. Equitorial trust bank
3. First Bank Nigeria
4. Intercontinental bank plc
5. Union bank
6. Access Bank plc
You can send us an email to send the list of all other banks that issues ATM cards.
To read more about the Nigerian ATM, Click here
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