Five banks have so far joined the new Complementary Switch which allows customers with the non-Visa ATM cards to access money on ATM machines belonging to other banks. The five banks are Zenith Bank, HFC Bank, Prudential Bank, Cal Bank and Sahel Sahara Bank.
Banks on the complementary switch system are expected to charge their customers lesser fees when they use their ATM cards compared to using a Visa cards.
The new system is powered by the Ghana Interbank Payment and Settlement System (GhIPSS).
The General Manager in charge of project and business development, Achie-Hesse told Citi Business Newsthat fervent measures are being taken to get all the banks onto the switch.
“There are two stages, the centre stage, that is us being ready and the next stage is for the banks to complete their interface so that we can integrate into our own system.
"We have written to all banks sometime last week asking them about their readiness and letting them know that they must integrate by the end of Q1. I believe that, give or take by the end of Q2; about 80%of the banks would have been integrated,” he told Citi Business News.
He also revealed that Savings and Loans companies will soon be roped in.
“Because they will be connected to our switch, it means savings and loans customers can also go to any ATM in the country and the enjoy the same benefits,” Mr. Achie-Hesse explained.
Source;ghananewsnetwork.com
Date;19th January,2012
