KINGSTON, Jamaica — Members of Parliament (MPs) representing rural constituencies are calling on the Bank of Jamaica (BOJ) to address the scarcity of Automated Banking Machines (ABMs) in their communities. The MPs highlighted the inconvenience faced by voters who often travel long distances to access banking services.
At a recent meeting of Parliament’s Economic Production Committee, attended by BOJ Governor Richard Byles and his team, MPs expressed their concerns. Daniel Lawrence, MP for Westmoreland East, noted that his constituency has only one ABM located at Whitehouse. The other two machines previously available in Darliston had been vandalized and removed, leaving residents with a 30-40 mile journey to the nearest functional ABM.
Lawrence questioned Byles about the BOJ’s oversight on ABM locations and whether financial institutions would permanently remove machines due to security issues without considering public needs. He emphasized that traveling to distant locations for basic banking services is a significant burden for constituents, particularly when the only nearby ABM has been down since Hurricane Beryl.
Morland Wilson, MP for Westmoreland Western, also raised concerns about the inadequate number of ABMs in his district. He highlighted that Negril, a resort town, has only three machines for a large population of workers. The limited number leads to long queues and extended wait times, further exacerbated by the closure of traditional bank branches.
Clarendon Northern MP Dwight Sibbles reported similar issues in his constituency, where two ABMs are often out of service or run out of cash quickly due to high demand.
BOJ Governor Richard Byles acknowledged the issue, noting that while the BOJ can assist in identifying suitable ABM locations, the cost and logistical challenges are significant. Each ABM costs up to $500,000, and financial institutions need to balance this cost against potential security risks.
The BOJ team explained that Hurricane Beryl had disrupted efforts to meet ABM service standards, with current uptime rates dropping to 87 percent from 68 percent since the hurricane. The service standard requires 90 percent of ABMs to be operational each month, with a 95 percent uptime rate.
Byles suggested that MPs could help identify secure locations for additional ABMs, such as government offices or police stations. This collaborative approach aims to improve access to banking services in rural areas, even where private sector investment is limited.
MPs are considering proposals to install ABMs at or near police stations and will engage with the Minister of National Security to explore this option further.
