Finance

Seven ways to use cardless ATM for withdrawal

Published

6 years ago

October 10, 2018

By The Punch

The Cardless ATM withdrawal in Nigeria, introduced sometime in April 2014, has been adopted by some Nigerian banks; but this service is yet to get the attention of many bank customers.

The awareness is sluggishly growing among Nigerian bank customers. But the question is – are the banks doing enough in creating the awareness among their customers? Investigation shows that most bank ATMs have the service installed but they are not being used.

If you are unfortunate enough to have your debit card stolen, you lose your card or simply forget to bring it with you, and you need cash, here are tips from pocketsense.com and wellkeptwallet.com to withdraw money from an Automated Teller Machine without a card.

Ask the teller for help

Go inside the bank and explain to the teller that you do not have your ATM card on hand. The teller has the ability to look up your account information, and may ask for your state issued driver’s licence or identity card according to bank policy. You will need to fill out a withdrawal slip with the account number provided by the teller, the amount of money you want and sign your name. The teller can then withdraw the money from your account and complete the transaction.

Write a cheque payable to cash

If you have your chequebook, writing a cheque made out to cash will get you cash without an ATM card. Give your cheque to the bank teller or to a cashier at a local retailer and receive your funds in return. The safest bet is to present the cheque at your bank, as the cheque will be readily accepted. When visiting a retail store or bank where you do not have accounts, call ahead to see if they will accept a cheque from you made payable to cash. A cheque made out to cash is unsecure. This means, the cheque gets lost, the finder can receive the money unless you stop payment on the check first. Because of that risk, do not write out the cheque until arriving at the bank or retailer.

Access emergency cash service

Some banks offer a convenient emergency cash service. To use this benefit, contact your bank and report your card lost or stolen. You will be given an emergency code number to key into the ATM, enabling you to withdraw cash without using a card. Use this service only if your card is truly lost or stolen as your ATM card will be deactivated, forcing you to apply for a new card and wait for its arrival. The bank will then issue you a new one by mail.

Use a smartphone

A mobile cash withdrawal feature for your smartphone eliminates the need for an ATM card. To get this feature, you will need to first register with your bank. The registration can be done at the bank branch or through the bank’s Internet banking service. Once registered, download the mobile banking app to your smartphone. The app allows you to set up a withdrawal and then electronically transmits a 2D bar code to your smartphone. Upon arrival at the ATM, scan the bar code for authorisation to withdraw cash from your account.

Use your bank’s cardless ATM

Some banks now offer cardless ATM usage to make it more digitally safe for customers to pull out money. Since hackers are able to steal customers’ ATM card numbers, banks are using this technology to cut down on fraud on ATM machines.

The banks claim this is a safer way to pull out money from the ATM, since it will require more digital security measures, such as scanning a barcode at the ATM machine for authorisation to withdraw cash from your account.

It is also convenient for customers who do not want to carry an ATM card.

Use USSD banking

Apart from turning to apps to send money to someone, who may be able to withdraw the money for you, you can also make use of the Unstructured Supplementary Service Data. You can easily send money to your friends and have them pull it out in cash for you.

Sourced from the Punch Newspapers

Finance

EFCC Chairman Tasks Nigerian Youths Against Crimes And Fraudulent Acts

Published

10 hours ago

May 4, 2024

Alice Ginika Simon

The Chairman of Economic Finance Crime Commission (EFCC), Ola Olukoyede, has stressed the need for Nigerian Youth to see themselves as agents of positive change that have a lot to contribute to the socioeconomic development of the Nation.

Speaking at the 2nd edition of a Leadership Trainings Programme in Abuja, Olukoyede, who was represented by the Head Enlightenment and Re-orientation unit, (EFCC), Aisha Mohammed, said the commission’s dream is to see the youth contribute meaningfully to the society, emphasizing on the need to work together in bringing positive change to society.

The Economic and Financial Crimes Commission Boss declared the readiness of his agency to work with all Stakeholders, including the youth towards changing the narrative and reposition the country to greater exploit.
Also speaking, the representative of the Executive Secretary of Tertiary Education Trust Fund (TETFUND), Sonny Echono, appealed to the youths is to eschew social vices that could deter their full potential in life.

Other speakers at the event, including the Chairperson, Zero Tolerance for Social Immoralities Initiative (ZEITI) Africa, Rasak Jeje called on all stakeholders to join hands in collective pursuit of empowering new generation of leaders to curb the rising tides of social Vice among Nigerian youths.

The Chairperson, Zero Tolerance for Social Immoralities Initiative (ZEITI) Africa, Rasak Jeje made the call while addressing journalists at the 2nd edition of it Leadership Trainings Programme in Abuja on Thursday.
He said the training was aimed to intimate students leaders with knowledge and insights that will help them drive positive change and become exemplary leaders in their respective spheres.

Finance

AISA Has Refunded The Fees Paid By Yahaya Bello To EFCC

Published

1 week ago

April 27, 2024

Alice Ginika Simon

The Economic and Financial Crimes Commission (EFCC) says the American International School Abuja (AISA) has refunded the fees paid by the immediate past governor of Kogi state, Yahaya Bello, for his children attending the school.

In response to a letter addressed to the Lagos zonal commander of the EFCC, the school said $845,852 was paid in tuition “since the 7th of September 2021 to date”.

AISA said the sum to be refunded is $760,910 because it had deducted educational services already rendered.

“Please forward to us an official written request, with the authentic banking details of the EFCC, for the refund of the above-mentioned funds as previously indicated as part of your investigation into the alleged money laundering activities by the Bello family.

Since the 7th September 2021 to date, $845,852.84 (Eight Hundred and Forty-Five Thousand, Eight Hundred and Fifty Two US Dollars and eighty four cents) in tuition and other fees has been deposited into our Bank account.

We have calculated the net amount to be transferred and refunded to the State, after deducting the educational services rendered as $760,910.84. (Seven Hundred and Sixty Thousand, Nine Hundred and Ten US Dollars and Eighty Four cents).

No further additional fees are expected in respect of tuition as the students’ fees have now been settled until they graduate from ASIA.”

In a chat with The Cable, the spokesperson of the EFCC, Dele Oyewale, confirmed that the school has refunded the money.

‘’The money has been paid into public account,” Dele Oyewale was quoted as saying

Finance

Godwin Emefiele Disobeyed Direction Of Law With Intent To Harm The Public, He Printed ₦684.5M Using ₦18.9B Says EFCC in fresh charge

Published

2 weeks ago

April 23, 2024

Alice Ginika Simon

The Economic and Financial Crimes Commission has filed a fresh charge at the High Court of the Federal Capital Territory against the embattled former governor of the Central Bank of Nigeria, Godwin Emefiele.

EFCC in the charge accused Emefiele of approving the printing of N684,590,000 at the rate of N18.96 billion.

EFCC also alleged that Emefiele broke the law with intent to harm the public during his implementation of the naira swap policy of the administration of former President Muhammadu Buhari.

The anti-graft agency also accused Emefiele of unlawfully approving the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.

EFCC’s top prosecutor, Rotimi Oyedepo, SAN revealed that Emefiele will be arraigned on a new four-count charge before Justice Hamza Muazu

Counts one to four of the charge, read,

“STATEMENT OF OFFENCE: Public Servant disobeying direction of law with intent to cause injury to the public contrary to and punishable under Section 123 of the Penal Code Law, Cap. 89 Laws of the Federation, 1990.

“PARTICULARS OF THE OFFENCE: That you GODWIN IFEANYI EMEFIELE between the 19th day of October 2022 and 5th March 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the CBN Act, 2007, by approving the printing of N375,520,000.00 pieces of colour swapped N1, 000, at the total cost of N11,052, 068,062 without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria which conduct of yours caused injury to the public and you thereby committed an offence.”

This and three other charges were stated against him. They read;

“COUNT 2: “That you, GODWIN IFEANYI EMEFIELE, between the 19th of October 2022 and 5th March 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the Central Bank of Nigeria Act, 2007, by approving the printing of 172,000,000 pieces of colour swapped N500 (Five Hundred Naira) Notes, at the total cost of N4, 471,066,040 without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria which conduct of yours caused injury to the public and you thereby committed an offence.

“COUNT 3: “That you GODWIN IFEANYI EMEFIELE between the 19th day of October 2022 and 5th March 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the CBN Act, 2007, by approving the printing of 137,070,000 pieces of colour swapped N200 (Two Hundred Naira) Note, at the total cost of N3, 441, 005, 280 without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria which conduct of yours caused injury to the public and you thereby committed an offence.”

“COUNT 4: “That you, GODWIN IFEANYI EMEFIELE, on or about the 7th day of October 2020, in Abuja, within the jurisdiction of this Honorable Court, knowingly disobeyed the direction of Section 80 of the Constitution of the Federal Republic of Nigeria, 1999 (As Amended), by approving the withdrawal of the total sum of N124, 860, 227, 865.16 from the Consolidated Revenue Fund of the Federation in a manner not prescribed by the National Assembly, which conduct of yours caused injury to the public and you thereby committed an offence.”