Now it is very much possible for ATM to dispense bad or non-usable notes. I wish you could say otherwise.
But in recent times this has become dangerously common with most bank ATM services in Nigeria.
These bad notes come in different shades. Briefly, see below some of their variants:
- Heavily soiled notes: these are notes that have become very dirty as a result of lengthened contact with oily, greasy or dusty exposure.
- Mutilated notes: are currency notes that are torn beyond repair. Most security/essential features of the currency note would be missing.
- Fake notes: these are counterfeits. Illegal or cloned bank notes.
Imagine the disappointment a customer would feel after overcoming the risk of dispense errors or card trapping only to fall into the hands of bad notes dispense.
Banks are not in denial of this bad omen. However, they have put the blame on the inability of the central bank to supply commercial banks with ATM fit notes.
For me, I think what should matter most to us as customers will be what to do when ATM pays customers bad notes.
Now just check out these sharp and smart steps every customer should take to get the bad note replaced:
First, retrieve the transaction receipt printout and keep it safe. This may help you establish your claim if the incident occurred in other bank’s terminal.
Confirm the bank that owns the ATM terminal utilized. Now, this is very important when an out-station ATM facility is involved. Especially in public places where different bank ATM units are positioned. Failure to correctly identify the correct bank could jeopardize your chances of getting a replacement.
Quickly approach the bank’s branch where the ATM terminal used is domiciled. Ensure you make your report to a designated officer or the operations manager. If the transaction occurred on a weekend, then let the security unit of the branch take a report of the incidence.
If the terminal used is an out-station facility, then make your report at any branch of the bank.
Report to the Central Bank authorities if the concerned bank fails to replace it with new notes.
Given, at times ATM does pay bad notes. Don’t worry. Just be quick to report to the affected bank and it should be swiftly resolved.