How First City Monument Bank (FCMB)’s inefficiency has become profitable to the detriment of its customers | © Fola Daniel Adelesi

I have been in Sokoto for a little less than a year now and that means I primarily operate from there. Since I would be returning to Lagos, my main base not too long from now, it really was not necessary for me to consider opening another account with another bank especially because my, hitherto up and doing bank, has been available here and there though with little inadequacies seen from time to time.

I run two different accounts with this same bank and I always have to use my ATM especially because of the regulation of the bank on how much you can draw from your account over the counter. I don’t really have a problem with the ATM because it saves me some time and I don’t have to sign a cheque all the time. When you run out of cheque leaves it can be frustrating because you may not get the new booklet on the promised date so ATM saves me that stress.

All of a sudden I got to Sokoto only to realize that the FCMB ATM right in the premises of the Bank on Kano road hardly ever works. I am saying hardly ever works with emphasis because I can count on one hand how many times I have been able to withdraw cash using that ATM. The security guys at the gate always referred me to another bank and the implication of this is that an additional N100 would be deducted from your account for every withdrawal. The question is why should a customer be charged for the inefficiency of the bank while enriching another bank? At a point this really got to me and I took it up by asking series of questions from the bank workers who were there just a few days ago. They told me the head office was coming to fix it that day or the next. I went back to the same bank two days later and the ATM was still not working. Again I am saying emphatically that since last year July, I can count how many times, on one finger, that the FCMB ATM had been accessible and it’s the customer that suffers by being charged for its financial institution’s negligence.

All of this is coupled with the fact that they will send you more SMS than you are supposed to receive and you will be charged for it. At some time you will have cash paid into your account but will not get an alert but as soon as you withdraw you will get alerts. This gross inefficiency on the part of a financial institution, that I have up until now, revered is gradually and stylishly draining people’s pockets and paying off for another bank.

FCMB should stop ripping off its customers because N100 at every withdrawal before you know it would have amounted to some thousands. Fix your ATM, keep it working and let your customers enjoy doing business with because we would have as well gone to those other banks whose ATM machines we have been using.

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