Home News Co-op Bank commences re-calibration of ATMs to accommodate new currency

Co-op Bank commences re-calibration of ATMs to accommodate new currency

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The Co-operative bank has already started re-calibration of the  ATM’s machines across all the Counties to accommodate the new currencies launched during Madaraka celebration in Narok.

The exercise is expected to end in mid-July where 580 ATM machines across the Country will be fully operational.

The automation of the machines is expected to end mid-July where 580 Machines will fully be operational.

Co-op bank CEO Gideon Muriuki

The Co-op bank is the only financial institution in Kenya which has started the exercise of the automation.

“We’ve 580 ATMs, re calibration expected to be concluded in a months’ time, say mid- July,” reads a statement.

The small nature and new features of the currencies prompt the need for ATM upgrades and new money counting machines found in teller booths to verify cash amounts and capture counterfeits.

Image result for coop bank of kenya ATms
Co-op bank ATM Machine

Early June, Co-operative Bank Group completed a major system upgrade. In a public notice, the lender, which has 155 branches, 11,600 banking agents and over 8.2 million customers said the upgrade was geared at improving the banking services experience.

“All our banking services will be switched off from 10.00pm Saturday 8th June to 8.00am Sunday 9th June 2019,” the lender said.

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“This is to notify all Co-operative Bank customers and the general public that we will be upgrading our IT network to improve system performance and provide faster banking services,” said the bank.

The introduction of the new currency notes was in a bid to not only tackle illicit financial flows but also cash counterfeiting as well as to arrest tax cheats.