Scotiabank spending US$3m to upgrade ABMs
Scotiabank is spending US$3 million (almost J$270 million) to replace its older automated banking machines with new, more sophisticated and environmentally sound equipment that can facilitate more transactions.
Some of the machines will be taken out of service in the process and will not be available for up to four days while the new ones are being installed, Scotiabank indicated in a release Friday.
Under its US$3 million environmental project, which it has dubbed Evergreen, the bank has been systematically replacing ABMs that are seven years and older with newer ones, the bank said in a release.
"They have faster processing speed, anti-skimming and other security features, better touch and feel, use thermal instead of ink printers, require less energy to run, and reduce greenhouse-gas emissions by at least 15 per cent over five years," it said.
Scotiabank said that based on the features on most of the newer machines, it should help to reduce long lines at ABMs because of their speed and specialised cash-dispensation functionality.
"Less than two per cent of transactions conducted at ABM machines are for deposits. In response to usage trends, only machines located at branches will be able to receive deposits," the release quoted Wayne Powell, executive vice president for retail banking at Scotiabank, as saying.
Scotiabank said that their minuscule use for deposits notwithstanding, use of ABMs for other purposes, in particular mobile top-ups, has been increasing.
However, Powell advised that customers need to note carefully how the top-up service works.
He explained that a common mistake customers make when they use the mobile top-up feature is to select 'no' in response to the question of whether they would like to have a printed receipt.
"Instead, customers should select 'yes' in order to have their mobile top-up voucher dispensed at the end of the transaction because on it is printed the confirmation/top-up information," he said.
Scotiabank has advised that while the Evergreen project continues, older machines will be taken out of service, resulting in some inconvenience to users.
"We regret the inconvenience to our customers during the changeover and are committed to keeping the machines' downtime to no more than four days. We reassure our customers that once the new machines are installed, they will experience improved efficiencies and the benefits of the new machines immediately," Powell said.
Scotiabank's automated machines, which can facilitate transactions such as cash dispensation, purchase of mobile telephone credit, bill payments, and transfer of funds between accounts, now stand at 225, with 35 being dual currency, said the release.