Alternative Banking Channels

Due to advances in technology, banks are now able to offer their customers convenient, alternative means of banking such that these customers no longer need to go to the banking hall to do all of their banking transactions. 

Let’s look at some of these alternative channels;

·    ATMs - ATM stands for Automated Teller Machine. ATMs are the most popular and familiar of the alternative banking channels available in Nigeria. 

They are easy to use and usually operate 24 hours a day, seven days a week. You can withdraw cash from your account through an ATM. But you can do more than that you can also transfer money from one bank to another, transfer money from one of your accounts to another one, pay your bills or even buy air-time for your phone through an ATM.