Access to banking services and cash is crucial for individuals and businesses in Nigeria. Cash deposit ATMs provide a convenient way for bank customers to make deposits into their accounts without having to go inside a bank branch. As banking technology improves and more Nigerians adopt digital financial services, cash deposit ATMs have become an important part of many banks’ retail banking strategy.
In this article, we will look at the top 15 banks that offer cash deposit ATM services in Nigeria. For each bank, we will provide an overview of their business and the number of cash deposit ATMs they have deployed across the country. Understanding which banks have the most extensive cash deposit ATM network can help consumers choose where to open accounts and conduct their banking.
Access Bank of Nigeria
Access Bank is one of the top banks in Nigeria with over 600 branches and service outlets. The bank aims to use technology to provide convenient and accessible banking to customers across Africa. Access Bank has installed over 300 cash deposit ATMs across Nigeria as part of its retail banking strategy. Customers can use Access Bank ATMs to deposit cash into both Access Bank accounts and accounts with other Nigerian banks.
First Bank of Nigeria
First Bank of Nigeria is the oldest bank in Nigeria having been founded in 1894. It has one of the most extensive retail banking networks with over 750 branches nationwide. First Bank has deployed over 800 cash deposit ATMs across the country to complement its branch network and provide customers with more convenient banking access. Customers can use First Bank’s cash deposit ATMs to make deposits into any Nigerian bank account.
United Bank for Africa (UBA)
United Bank for Africa (UBA) is a leading pan-African bank with operations in 20 African countries. In Nigeria, UBA has over 250 branches and a large ATM network with over 1,000 machines. A significant number of these are cash deposit ATMs that allow both UBA customers and customers of other Nigerian banks to make deposits. UBA’s cash deposit ATMs have helped position the bank as one of the most innovative in Nigeria.
Zenith Bank
Zenith Bank is a major player in the Nigerian banking industry with over 500 branches and several million customers. The bank has a visible presence in many parts of the country due to its extensive ATM network. Zenith Bank has deployed hundreds of cash deposit ATMs to complement its branch network and give customers more options for making cash deposits conveniently. Customers can use Zenith Bank’s cash deposit machines to deposit into Zenith accounts as well as accounts at other Nigerian banks.
Guaranty Trust Bank (GT Bank)
Guaranty Trust Bank, also known as GT Bank, offers retail, business and corporate banking services across Nigeria. It is renowned for its innovative digital banking platforms and has a network of over 250 branches and cash centers. GT Bank has installed a large number of cash deposit ATMs nationwide as part of its retail banking infrastructure. By using a GT Bank cash deposit ATM, both GT Bank customers and other account holders can conveniently deposit cash without having to visit a branch.
Stanbic IBTC Bank
Stanbic IBTC Bank provides banking services spanning retail, corporate and investment banking. The bank has a visible presence in many parts of Nigeria with over 180 branches and cash centres. To improve customer convenience, Stanbic IBTC has deployed a significant number of cash deposit ATMs. These machines allow both Stanbic IBTC account holders and customers of other banks to deposit cash which reflects immediately in their accounts.
Sterling Bank
Sterling Bank is a leading commercial bank in Nigeria with operations across major cities and towns. The bank continues to expand its branch network which now numbers over 200 branches and service outlets. Sterling Bank has also invested heavily in its ATM infrastructure comprising hundreds of machines nationwide. A good number of these are cash deposit ATMs intended to provide customers, including non-Sterling account holders, with convenient channels for making cash deposits.
Fidelity Bank
Fidelity Bank provides personal, business and corporate banking services in Nigeria. The bank has over 250 branches and service centres to serve its growing customer-base of over 6 million. Fidelity Bank has deployed a sizeable network of cash deposit ATMs to complement its branches and improve service delivery. The bank’s cash deposit ATMs allow both Fidelity Bank customers and other account holders to conveniently deposit cash and enjoy real-time credits.
Ecobank Nigeria
Ecobank Nigeria is part of the larger Ecobank Group with presence in over 30 African countries. In Nigeria, the bank has an extensive network of over 250 branches and service outlets. Ecobank has deployed hundreds of ATMs including a significant number of cash deposit machines. Ecobank account holders as well as customers of other Nigerian banks can use the cash deposit ATMs to make deposits and have the funds immediately reflect in their accounts.
Union Bank of Nigeria
Union Bank of Nigeria is one of the longstanding commercial banks in Nigeria. It provides retail, business and corporate banking services via over 300 branches and service touch-points. As part of its self-service banking offerings, Union Bank has deployed a sizeable number of cash deposit ATMs across the country. These machines enable Union Bank customers and other account holders to make convenient cash deposits.
FCMB Bank
First City Monument Bank (FCMB) is a leading financial services provider in Nigeria with over 200 branches nationwide. FCMB has installed hundreds of ATMs including a large number of cash deposit machines to complement its branch network. The bank’s cash deposit ATMs allow customers to make deposits into both FCMB accounts and accounts with other Nigerian banks. This supports convenient banking for FCMB customers.
Wema Bank
Wema Bank offers retail, business, corporate and digital banking services in Nigeria. The bank has grown its branch network which now consists of over 150 outlets nationwide. Wema Bank has also deployed a network of ATMs including cash deposit machines that allow both Wema Bank customers and other account holders to make convenient cash deposits. These provide expanded deposit channels beyond its branches.
Heritage Bank
Heritage Bank commenced operations in Nigeria in 2012 and has steadily grown its service network across the country. The bank now has over 60 branches and service stations to serve its diverse customer base. To provide expanded and convenient banking access, Heritage Bank has deployed a number of cash deposit ATMs nationwide. Using Heritage Bank’s cash deposit ATMs, both Heritage Bank customers and other Nigerian account holders can pay in cash that reflects in their accounts immediately.
Polaris Bank
Polaris Bank took over from the defunct Skye Bank in 2018 and has continued building on its platform. The bank now has over 300 branches and a growing ATM network. Polaris Bank has introduced a number of cash deposit ATMs to enable its customers and clients of other banks conveniently make cash deposits for real-time value. The bank’s cash deposit ATMs are positioned to complement its branch network.
Keystone Bank
Keystone Bank provides value-adding banking services with a growing branch network of over 150 outlets nationwide. The bank has installed several ATMs including cash deposit machines that enable both Keystone Bank customers and other account holders to conveniently make cash deposits. Keystone’s cash deposit ATMs improve the bank’s deposit acquisition while providing expanded service channels.
In conclusion, access to cash deposit ATMs makes banking more convenient for consumers in Nigeria. The top banks in the country have each deployed hundreds and in some cases thousands of these machines to enable both their own customers and clients of other banks to easily deposit cash. With more deployment expected across the industry, cash deposit ATMs look set to become an integral part of Nigeria’s retail banking infrastructure.
