Customer Queues get Longer at ATMs Nationwide
By Agnes Fonkeng
With successive generations of information technology on the heels of their predecessors on improved and advanced options, keeping pace with emerging gadgets in the electronic market is a daunting task for some consumers in developing countries. This however, comes with much relief and lifestyle improvements for millions of other consumers. Electronic banking in Cameroon is fast catching up with the modernizing pace. The proliferation of electronic bank cards and the mushrooming of Automatic Teller Machines (ATM) in every nook and cranny of Cities is testament to the electronic craze that grips Cameroon. Bank customers in the country proudly wield universally acceptable banker’s card e.g. the visa electron card, making payments and withdrawals at anytime and anywhere. These options provide opportunity for consumers in Cameroon to pay for purchases at commercial points bearing the visa electron logo.
Though it is relatively new in Cameroon unlike in Southern Africa, the craze that has built up over the last three years has seen customers of commercial banks increasingly receptive to electronic banking. Some Banks offer varied options both internet services, mobile telephone banking service and the electron card, including Carte Visa Electron Essentiel with a maximum withdrawal capacity of 250.000 FCFA (US$ 500.00) a day and 500.000 FCFA (US$ 1.000) a week. Other card options offer better opportunities, e.g., the Carte De Retrait Lion with a maximum withdrawal capacity of US$ 2000 per day.
Cameroon’s leading commercial banking giant, BICEC, offers three visa electron cards: BICEC Visa Electron, with a maximum withdrawal capacity of 1.000.000 FCFA (US$ 2.000) a week, BICEC Classic with a withdrawal capacity of 2.500.000 FCFA (US$ 5.000) in just one week and BICEC Gold that provides the opportunity to withdraw up to 5.000.000 FCFA (US$ 10.000) per week.
Mr. Ndze Tobias Wongbi, Branch Manager of BICEC Buea, says “it is more convenient in that, one no longer needs to carry huge sums of money around - which can attract thieves – but, simply need a secret code to pay for purchases or make cash withdrawal”. He added that users of visa electron cards need to be covered in case of a loss of their card. This ensures that they are given a considerable amount of money.” Commenting on the expenses incurred in electronic banking, Mr. Ndze says “with the satisfaction one gets, no amount paid can be too expensive”. The fee charged for owning one of these life-easing cards amount to a maximum of 20.000 FCFA (US$ 40.00) per year for BICEC customers owning the BICEC Visa Electron card. The charge doubles with Classic and Gold card versions, respectively.
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