Banks trying to resolve ABM issues affecting customers - JBA

By Clinton McGregor    

 

The Jamaica Bankers Association (JBA) says financial institutions across the island are trying to solve the ongoing issues facing customers including long lines, a shortage of cash and malfunctioning automated banking machines (ABMs).

 

The parliamentary opposition has called for the Bank of Jamaica to intervene in the growing crisis and accused the banks of failing to fulfill their obligations to their customers as required by law.

 

Speaking with Radio Jamaica News on Monday, President of the Jamaica Bankers Association Audrey Tugwell Henry said the banks have taken note of the frustration of their customers and are working to resolve the issues.

 

According to Mrs Tugwell Henry there should be an improvement in the service in the next few weeks. 

 

"We are faced with some unique challenges right now, which we have discussed, and there are a number of more key issues. However, individual institutions are working to address their unique issues...and so we expect that with all the effort that the players in the industry are placing on experience, customer convenience, and access to cash, that the issues will be resolved over the next few weeks," she said. 

 

Responding to concerns about the lack of ABMs in some rural parishes, Mrs. Tugwell Henry argued that Jamaica has more banking machines than most countries in the region. 

 

"I do know that as an industry, we have deployed over 900 ABMs right across the island. And so there might be a specific community or a specific pocket that doesn't have ABMs, but broadly speaking, I would say compared to even other countries, the ABM distribution is quite significant." 

 

Mrs. Tugwell Henry warned that increased vandalism of ABMs will cause further inconvenience to customers. 

 

"What it means is that when an ABM machine is vandalised, it is taken out of commission and the process to replace it is very long. And also it creates an increased cost of operation. So vandalism, theft, crime are all controllable, which we are encouraging all Jamaicans to stand-up and speak-out against these issues," she urged.