Assessment of ATM Banking Charges: Opportunities and Challenges

DANLADI IBRAHIM MUSA

Department of Banking and Finance

The Federal Polytechnic Damaturu, Yobe State

E-mail: yayakatuzu@gmail.com

ABSTRACT

This paper intends to look at the assessment of ATM banking charges, opportunities and challenges. The opportunities derived from the bank charges include effective banking services to the customers, relive banks of financial burden of maintaining the ATMs redress the unhealthy habit of abuse of the use of ATM, help customers to have financial discipline about the way they spend their money and thus to meet the Nigerian Payment Vision 20:2020. The challenges of bank charges constitute policy inconsistency of banking industry long queues outside the banking halls, multiple of charges on ATM card by banks for insurance renewals of the cards, SMS charges and sometimes they charge the money before informing the customers. Finally, summary, conclusions and recommendations are made.