Central Bank reports significant improvement in the percentage of ABMs that are operational

The Central Bank says there has been a significant improvement in the percentage of Automated Banking Machines (ABMs) operational across the country.

In April, the Bank of Jamaica (BOJ) issued service-level standards as guidelines for the operation of ABMs by deposit-taking institutions it regulates.

This followed concerns raised by citizens regarding their inability to get funds from machines for various reasons.

Compliance with the standards is being assessed through BOJ’s review and publication of monthly reports from the deposit taking institutions.

In an update yesterday, the BOJ said three results have been published so far.

BOJ Deputy Governor, Dr. Jide Lewis said 97% of ABMs are now operational.

Dr. Lewis said there is need for greater improvement, in the up time of the ABMs.

The BOJ standards address cash availability, infrastructure maintenance and management of service disruption, ABM fees, deployment of machines, accessibility and ease-of-use, fraud minimization, safety and security of customers, and financial education of ABM users.


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