Scotia overhauls, expands ATM network
Published:Sunday | March 6, 2011 | 12:00 AM
Sabrina Gordon, Business Reporter
Scotiabank Jamaica is conducting a full overhaul of its 100-ATM network at a cost of C$3 million (J$264 million) over a six-month span, with the promise that the replacement machines should deliver a processing speed for transactions that is up to four times faster than the current rate.
The bank will also be expanding the ATM network, adding at least nine units this year.
No fee increase
The replacement project should be completed in August. Scotiabank is promising that the improved technology will not drive up fees customers now pay for ATM transactions, nor will it require a switch of banking cards.
The current charges are J$33 for withdrawals at Scotia ATMs, and J$55 at other banking machines on the Multilink network, and J$27.60 if the transaction is declined.
"Scotiabank is replacing and upgrading machines to improve the overall customer experience by providing ATMs with a four-times faster processing time and a better touch and feel," said Debbie Clue, manager for corporate and public affairs at Scotia Group Jamaica.
The bank has been running print and electronic advertisements since the start of the year advising customers of the upgrade under way since February.
The old machines will be securely decommissioned and destroyed, said Clue.
The new machines are being supplied by Diebold, a United Sates-based integrated technology provider.
Faster processing
In addition to faster processing times, the Diebold machines will have, said Clue, enhanced security features, and thermal-printed receipts instead of ink as part of the company's ongoing thrust to go green.
She did not disclose the sites at which the additional machines will be located as negotiations are still ongoing, saying only there would be eight locales for nine ATMs.
Scotiabank's other enhancements to its electronic banking platform allow customers to view their credit card and line of credit history while doing mobile banking.
In February, the bank also added the online banking feature that allows transfer of foreign currency to a US-dollar credit card.
Foreign-currency transfers are also offered on the mobile banking platform, similar to the Internet banking facility.