Customers Coping Strategies with Banks Automated Teller Machines (ATM) Service Failures

Abstract

This paper sought to identify incidence of Automatic Teller Machines (ATM) service failures and evaluated customers coping strategies. Primary data were collected with structured questionnaire from 200 respondents. Convenience sampling technique was adopted for sample collection. The collected data were analyzed with mean and standard deviation. The result shows that ATM inability to issue receipt was considered the highest indicator of service failure while 20% of the respondents choose not to take any action, 46% took only private action and 24% of the respondents applied a combination of these strategic options in dealing with ATM service failures. This paper therefore recommends that customers need adequate information about their rights and should appropriately demand for it, banks management should be alive to their responsibilities of delivery quality services while banks regulatory agencies should not hesitate to impose penalties on any erring bank that continually deliver substandard services to her customers.

Keywords: Automatic Teller Machines (ATM), Customers Coping Strategies, Ekpoma, Service Failure

DOI: 10.7176/EJBM/13-13-05

Publication date:July 31^st 2021