Euro changeover - The role of ATMs and EPOS terminals
Bank ATMs will play a key function in the dispensing of euro notes during the changeover process. ATMs have been earmarked as one of the main distribution channels to introduce the new currency in local circulation. Up to midnight of December 31, 2007,...
Bank ATMs will play a key function in the dispensing of euro notes during the changeover process. ATMs have been earmarked as one of the main distribution channels to introduce the new currency in local circulation. Up to midnight of December 31, 2007, about 30 per cent of ATMs around Malta and Gozo shall be dispensing Maltese lira. After the stroke of midnight, these ATMs shall be switched off and the other 70 per cent of ATMs dispensing euro notes, shall be switched on.
As from January 1, 2008, ATMs shall be dispensing 10 and 20 euro notes. An agreement has been reached between the commercial banks to ensure that the banks will continue to offer an efficient service to all customers throughout Malta and Gozo.
20070301-business--atm.jpgThe commercial banks, through the Malta Bankers' Association, shall be launching a detailed information campaign on ATM availability. Customers would be able to continue depositing Maltese lira and euro notes and cheques till the three months after e-day. Banks are insisting that separate deposits will be affected for Maltese lira and euro currency. It is strongly recommended that traders, particularly retail outlets, will be prepared to meet their cash requirements as from December 31, 2007.
The banks are clearly committed to continue providing the expected service during this important period. As from e-day, payments made through an EPOS terminal will be carried out and debited to the card holder's account in euro.
• Mr Cassar Torreggiani is the executive head responsible for the euro changeover programme at Bank of Valletta.
As from January 1, 2008, ATMs shall be dispensing 10 and 20 euro notes. An agreement has been reached between the commercial banks to ensure that the banks will continue to offer an efficient service to all customers throughout Malta and Gozo.
20070301-business--atm.jpgThe commercial banks, through the Malta Bankers' Association, shall be launching a detailed information campaign on ATM availability. Customers would be able to continue depositing Maltese lira and euro notes and cheques till the three months after e-day. Banks are insisting that separate deposits will be affected for Maltese lira and euro currency. It is strongly recommended that traders, particularly retail outlets, will be prepared to meet their cash requirements as from December 31, 2007.
The banks are clearly committed to continue providing the expected service during this important period. As from e-day, payments made through an EPOS terminal will be carried out and debited to the card holder's account in euro.
• Mr Cassar Torreggiani is the executive head responsible for the euro changeover programme at Bank of Valletta.