Not many people are using electronic cards in West Africa for banking. Though the numbers may be better than a decade ago, there are still many more yet to use ATM cards and other electronic cards. This is supported by the long queues we encounter in the banking halls, many of whom are there to perform transactions that can be easily replaced with the use of cards. Here are some great benefits of having and using electronic cards for banking.
Withdraw Cash at Any Time, Day or Night
Having an ATM card means you can always withdraw your money at any time. YES, anytime. ATMs are always available to the general public, unlike banking halls that are open only during official hours. You can make withdrawals from ATMs on Sunday afternoon, Friday night or at dawn on Wednesday.
Convenience of Multiple Locations
ATM cards allow you to access your funds at different locations. For MasterCard and visa cards, you are able to slot them into ATMs of banks other than yours to transact. So, even when you find yourself at a place where you cannot find the nearest branch of your bank, you can walk to any Automated Teller Machine available and make withdrawals.
Your Money is Safe; ATM Cards are protected by a PIN
Security is a very important feature when it comes to financial transactions. Everyone wants to feel safe knowing that their money is secured. ATM cards are protected by PIN which only the owner is expected to know, unless divulged. Not even the banking officers issuing you the card are aware of it. This means that you are the only one who has access to the use of the card, and by extension the only one who can transact on your account.
No need to fill out withdrawal slips
ATM cards spare us the discomfort of filling out withdrawal slips or cheques. Some withdrawal slips can be cumbersome and unfriendly, especially to those without much banking knowledge and experience, and the poorly-educated. You are better served with the use of electronic cards, which provides you with quick service and convenience.
Faster than using Banking Halls
Have you ever been frustrated by the long queues that greet you in the banking hall, especially at times when you are really in a hurry? That is one big disadvantage of using banking halls for transactions which could be easily performed with an ATM card. Why not skip the long queues by requesting for an ATM card – – and using it.
Many financial institutions have now increased the withdrawal limits on their cards to allow more out-of-banking halls withdrawals. Others are even punishing customers by charging them a fee for withdrawing amounts less than say GHc400 from the banking halls. Talk to your banker and get an electronic card.