Assessment of Automated Teller Machine Services at Agricultural Development Bank (ADB) - Koforidua Branch

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The recent increase in the use of Automated Teller Machine (ATM) has created a new wave of competition in the banking industry. This affords customers more than enough options to choose their preferred banking institution, thereby compelling the banks to introduce a variety of quality services that satisfy their customers. The study assesses the use of Automated Teller Machine (ATM) at Agriculture Development Bank (ADB) Koforidua branch by examining the factors contributing to underutilization of ATM services, analysing the trend in subscription and the strategies adopted to promote ATM usage in the bank. A sample size of three hundred and twenty-two respondents was randomly selected within the New-Juabeng Municipality in the Eastern region. The survey method was employed to collect data from the 322 subscribers of ATM services using questionnaires. The stratified sampling methods were used to categorize subscribers according to their level of education. The study revealed that majority of the subscribers of the ATM prefer over the counter service. On the basis of these findings, the study concluded that; inadequate dispensing point, irregular network services and limited withdrawal of cash for a day are the main factors contributing to underutilization of ATM services at the bank. The study recommended an improvement in services connected to the use of ATMs such as increased in dispensing point, reliable network services and the raising of the limit of withdrawal of cash per day as measures stakeholders should put in place to enhance the use of the facility. Management of the bank has also adopted the following strategies; increase access points, acquire reliable internet services, introduce VISA card before the end of the year, reduce charges on ATM transactions, offer 24 hours services, and to improve education to subscribers at all branches including the Koforidua branch so as to enhance the quality of service.
A Thesis submitted to the Institute of Distance Learning, Kwame Nkrumah University of Science and Technology, Kumasi in partial fulfillment of the requirements for the degree of Commonwealth Executive Masters of Business Administration, September-2012