General Criteria
OM-6.4.5
The ownership and operations of any off-site ATMs is subject to the prior written approval of the CBB and must comply with the Rules outlined in Paragraph OM-6.4.6.
Amended: October 2016
Added: April 2016OM-6.4.6
Off-site ATMs must be owned either individually or jointly by banks orancillary service providers which are members of the BENEFIT Switch. Each relevant owning bank must already have linked its ATM capability to the BENEFIT Switch prior to requesting the CBB's permission to install an off-site ATM and, furthermore, must conform to the general standards set by the Benefit Company from time to time or theancillary service provider licensed by the CBB.Amended: October 2017
Added: April 2016OM-6.4.7
Banks must bear full legal responsibility for their respective off-site ATMs, as well as all costs associated with such ATMs (including, but not limited to, cash replenishment, installation, security etc.).
Added: April 2016OM-6.4.8
Banks wishing to install an off-site ATM must submit an application (in writing) for the CBB's approval (see Paragraph BR-5.3.3). A copy of the written permission (for installation of that
off-site ATM ) of the legal owner of the proposed location must be provided to the CBB, as well as a copy of the written permission of any other relevant authorities in this context (e.g. the Ministry of Interior).Added: April 2016OM-6.4.9
The CBB will consider applications on a 'first come, first served' basis for a particular location. If more than one application is received to install an
off-site ATM in the same location, the number of such applications which are approved will depend upon whether the location appears to the CBB to be capable of sustaining multipleoff-site ATMs subject to the exact details of each individual application regarding security being acceptable to the CBB.Added: April 2016OM-6.4.10
Each application will be assessed on its individual merits, and at the CBB's sole discretion, taking into account factors which the CBB considers relevant including, but not limited to:
(a) The suitability of the location in question;(b) The level of overall activities of the applicant in the market as well as the size and make-up of its customer base; and(c) The type and range of facilities which the applicant proposes offering through theoff-site ATM at the location in question.Added: April 2016OM-6.4.11
In addition to the information required by the CBB under Paragraph OM-6.4.8, the CBB may require further information/clarification to be provided to it before it takes a decision regarding the application. The CBB's decision in this regard will be notified to each relevant applicant bank in writing.
Added: April 2016OM-6.4.12
A bank must request in writing the CBB's permission to close any of its
off-site ATMs .Added: April 2016OM-6.4.13
The CBB may, at its sole discretion, require an
off-site ATM to be closed and decommissioned at any time.Added: April 2016
