Interbank ATM Network

An Interbank Switch is a consortium of individual bank ATM networks connected onto a unified system where different cardholders can access their cash irrespective of their bank patronage or which ATM is used.

Many commercial banks have ATM networks in place and so the competitive edge ATMs gave financial institutions has been lessened. ATMs are now a standard distribution channel that no longer plays a key role in attracting new accounts.

With an Interbank Switch, banks are able to create a means by which they can share their ATMs and are reimbursed whenever other banks' cardholders use their ATMs.

Bankom was exlusively licenced by the Bank of Uganda to provide Interbank Switching services to Financial Institutions in Uganda. Bankom connects banks with or without established ATM networks providing instant access to more ATM locations.

Benefits of being on an Interbank ATM Network

• Cost-saving. Banks get increased presence and customer touch points without capital investment in more ATM placements.
   
• More convenience. Customers have access to a bigger ATM network.
   
• More revenue channels. Banks can earn non-interest revenues from third-party transactions on their own ATMs.
   
• Value-added services. Banks can conveniently offer utility bill payments, electronic mobile top-up, school fees payments, etc.
   
• International card acceptance. Banks can accept International Cards on their ATMs or POS terminals through this network.
   
• Technological requirements. Banks get access to leading edge technology through Bankom's partnership with Postilion^TM.
   
• Economies of scale. Bankom helps reduce overall ATM costs and so saving for the customer.

CLICK HERE to see banks and ATMs on the Bankom Network.