GTBank Customers Can Now Make Deposit Through ATM
GTBank customers are now a class apart from their counterparts in other banks as Interswitch Nigeria, a leading electronic payment transaction and switching firm, has empowered them to make cash deposits through some designated ATMs.
The project, which is the first of its kind in Nigeria, will enable cash deposits through GTBank ATMs without inserting or using a debit card. The cardless ATM cash deposit solution from Interswitch can be accessed on certain GTBank cardless ATMs by clicking the enter button on the machine, which prompts the customer to key in the details of the account to be credited.
The ATM then requests for a confirmation of the account number and account name of the beneficiary. Once confirmed, the customer inserts the amount to be deposited, the ATM counts the cash and credits the beneficiary’s account immediately. The cardless ATM cash deposit solution allows a GTBank customer to deposit a bundle of different naira denominations and the ATM will sort through the different denominations.
Once sorted, the ATM displays the amount according to the different denominations and also the total amount deposited. The ATM cash deposit solution has the ability to validate the account of the beneficiary, allowing the depositor to confirm or correct any error.
The deposited amount reflects in the beneficiary account, and can be withdrawn immediately. With the cardless solution, the bank’s customers who wish to make cash deposits no longer need to visit the banking hall. They can simply deposit their cash via the ATM into a beneficiary’s accounts at any time of the day, including weekends. This provides customers the flexibility of depositing cash anytime; hence, they do not need to worry about carrying huge sums of money home.
According to the director, Payment Processing and Infrastructure at Interswitch, Akeem Lawal, the GTBank Cardless ATM cash deposit solution represents a big step towards full branch automation where entire banking operations are automated and customers are guaranteed an improved and consistent standard of service delivery at all automated bank branches.
“Banks are leveraging the use of ATMs to provide improved consumer banking experience by taking self service to a whole new level,” he added.
On the benefits to the bank, he noted that the “Cardless ATM cash deposit solution has reduced the number of customers who visit the GTBank branches,” where the ATM solution for cash deposit transactions was first deployed.
In similar vein, Lola Odedina, head, Communication and External Affairs, GTBank, explained that the solution from Interswitch was bound to improve the Nigerian banking sector by providing a ‘’secure, quicker and more effective channel for making deposits without visiting a banking hall’ or using an ATM card.
She further stated that the solution had undergone a successful and extensive test-run at certain GTBank branches and the bank was set to roll out the service in more branches within Nigeria.

http://pmnewsnigeria.com/2011/08/09/gtbank-customers-can-now-make-deposit-through-atm/

this is very good to hear. seen this is the US and wondered when it will get to nigeria.

my only challenge is the account number thingy, it will be much easier if i just insert my atm card, the machine reads off my account details from there and asks me to confirm. that way, i spend less time typing stuff and i can quickly hand the cash to the machine for safe keepiung

Good omen for us GTBank customers. Very soon you will hear more innovations.

Thanks to God

Nairaplus:

Good omen for us GTBank customers. Very soon you will hear more innovations.

good question

GTB is not the firstbank to launch this, It was first launch by FIRSTBANK which was reported on major national newspaper. Let us always post information we are assure of and can defend. Anyway this is a good development in our banking system and others should join them. Let all citizen make use of this new trend. Its very easy to use.

Your money is save at anytime, If the ATM did not credit ur account immediately am sure ur money will be returned back to u immediately.

i love my bank.

I hope this does not lead to another cut of jobs from banks

A remarkable improvement, but further reduces employment rate in the banking sector,

Nice innovation from GTbank, kudos

cinzo:

I HAVE A QUESTION FOR THEM OH! WE ARE ALL AWARE OF CASES WHERE YOU INSERT YOUR ATM AND YOU ARE DEBITED WITHOUT THE ATM DISPENSING THE MONEY.

WHAT IF THE ATM COLLECTS YOUR CASH WITHOUT CREDITING YOUR ACCOUNT

Good question. It takes a lot of time for noe to get back him money that was not dispensed especially if the transaction was not reversed within 24hrs

Stotle:

GTB is not the firstbank to launch this, It was first launch by FIRSTBANK which was reported on major national newspaper. Let us always post information we are assure of and can defend. Anyway this is a good development in our banking system and others should join them. Let all citizen make use of this new trend. Its very easy to use.

True, First bank introduced it first. I have used it at First Bank last 3 month

First Bank and Zenith have been operating deposit taking ATMs for a while,

Not a big deal, Why are you people shouting?? I guess, it must be GT effect!! I have noticed that any normal product/service that GT Bank release, it is met with so much fanfare. Some of their branches have the longest ATM queue, yet people still patronise them. Mind-boggling.

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I trust 9ijirians they will go and try pay in fake currency into the machine,
but come to think of it Lets imagine it that you just payed in money into the machine and you have not typed in your name and account number and suddenly it went off network? Pls can anyone help me answer that question

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Nice step GTbank. First Bank and Zenith may have introduce it, but the public were not told and so remain technically unintroduced.
New innovations like this requires publicity and awareness and that is the edge GTB has over them. Nice one Uncle Sege!

nice one gta is d number bank but i cant just liv my UBA alone i just like their service always clean

This Bank never fails to make me proud! . Always the first in new innovations.

nice one gta is d number bank but i cant just liv my UBA alone i just like their service always clean but hmmmm

stale story, been using the deposit ATM @ GTbank Adeola-Odeku for past 3 months

this is awesome

walcolm:

this is very good to hear. seen this is the US and wondered when it will get to nigeria.

my only challenge is the account number thingy, it will be much easier if i just insert my atm card, the machine reads off my account details from there and asks me to confirm. that way, i spend less time typing stuff and i can quickly hand the cash to the machine for safe keepiung

What if 20 people are paying into your account from 20 different Nigerian States?It means you will have to send your ATM card to each of them by courier.  Using account number as they have done it is slower but much more practicable.

Tony from:

I trust 9ijirians they will go and try pay in fake currency into the machine,
but come to think of it Lets imagine it that you just payed in money into the machine and you have not typed in your name and account number and suddenly it went off network? Pls can anyone help me answer that question

Very good question brutha!

Just want i wanna split out!

Stotle:

GTB is not the firstbank to launch this, It was first launch by FIRSTBANK which was reported on major national newspaper. Let us always post information we are assure of and can defend. Anyway this is a good development in our banking system and others should join them. Let all citizen make use of this new trend. Its very easy to use.

I cannot remember anyone saying that they are the first,

browze:

stale story, been using the deposit ATM @ GTbank Adeola-Odeku for past 3 months

What is stale story? The article said it has been on test for sometime at selected branches. Read and comprehend before posting.

I love GTB

Abayomin70:

nice one gta is d number bank but i cant just liv my UBA alone i just like their service always clean but hmmmm

who still banks with that archaic bank? Everybody i know that used to bank with them have closed their accounts.

cinzo:

I HAVE A QUESTION FOR THEM OH! WE ARE ALL AWARE OF CASES WHERE YOU INSERT YOUR ATM AND YOU ARE DEBITED WITHOUT THE ATM DISPENSING THE MONEY.

WHAT IF THE ATM COLLECTS YOUR CASH WITHOUT CREDITING YOUR ACCOUNT

Carry cutlass to the bank !!!!

anoda problem @ hand

bulk staff on their way out.

Its a good development, with proper management we are going to benefit from it. But, definitely its going to affect the staff strenght of banks. It will lead to laying off some staffs. More jobless people courtsey of the technology!

This is an interesting development. Though i have some questions for them.
Which kind of algorithm/scanning would be able to detect the different denominations of the naira note.
How can the algorithm scanning be strong enough to beat counterfeiting?
How fast would be the scanning and validation process for each of the naira notes last, Surely fast process would increases chances of accepting counterfeit.

This questions be better addressed properly before doing this on a large scale.