Ecobank Extends ATM Services to South Africa

Ecobank Transnational Incorporated has extended its regional Automated Teller Machine (ATM card) services to South Africa to enable holders of the card withdraw cash within the country from I,860 Nedbank ATMs.
Jibril Aku, managing director Ecobank Nigeria who disclosed this in Lagos said the move is part of the Ecobank-Nedbank alliance initiative which has brought the institutions into a partnership.
Announcing the inclusion of South Africa in usage of the Ecobank regional card, he said, “I am pleased to announce that the Ecobank regional card will enable holders withdraw their money in South African Rands from any of the Nedbank ATMs throughout the country.”
He said the cards are available to anyone with Ecobank account, and will offer considerable advantage to Nigerians traveling to watch football in South Africa.
Also speaking, Oti Ikomi, head Corporate Banking Products Ecobank Group said the card would go a long way to assist Nigerians traveling for the World Cup in South Africa to access Rands directly from Nedbank ATM instead of converting naira to dollar and to Rands before engaging in any transaction.
He said that the bank’s delay in the extension of the ATM was to make sure that it was connected to interswitch and all its branches in Africa.
He stated that the holders of the ATM are expected to pay charges of two per cent in every transaction with the Nedbank ATM.
Ikomi noted that the card would only be used in Nedbank ATM, adding that it would not acceptable at Point of Sale terminals.
The Ecobank Regional Card is multicurrency debit card that allows the account holders to access funds in their accounts in the local currency of the country where the bank has ATM or point of sale terminal is present.
However, with the addition of South Africa, the number of ATM’s from which cash can be accessed through Ecobank regional card within Africa has increased to over 2,460.