, Get your ATM card trapped and forfeit it!, Technology Times

Get your ATM card trapped and forfeit it!

Get your ATM card trapped and forfeit it!

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Union Bank of Nigeria (UBN) has informed its customers that new guidelines by the Central Bank of Nigeria’s (CBN) on Automated Teller Machine (ATM) card issuance permits banks to perforate all debit and credit cards trapped in ATM terminals.

Under the new rule, such trapped cards must be perforated by the affected bank before return to the bank that issued the card.

It follows that if your ATM card is trapped in the ATM of a bank other than your bank, you will forfeit your card as it will be perforated by the bank that owns the ATM in which you card was trapped before returning it to your bank. You will therefore need to request for a new ATM card from your bank. Sorry!

[sh_poll poll_id=”4334311″ template_id=”1″]Therefore, you need to be careful when you use the ATM of a bank other than your bank.

By the way, do you agree with this new CBN guideline?

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Kayode Oladeinde Technology Journalist at Technology Times. Mobile: +234 (0) 7031526929