News

Kenyan bank promos new ATMs with contest

February 1, 2004

NAIROBI, Kenya - I&M Bankhas begun promoting its recently launched ATM services.

According to a report in the Mail & Guardian, the new product features what is touted as a cheaper savings account, with an ATM and check book for a minimum balance of 10,000 shillings (U.S. $130).

Card holders who take advantage of the offer by April 1 will be entered in a drawing for a main prize of one million shillings (U.S. $13,029). The bank has started a publicity blitz for the product, with the tagline: "Who Put One Million Shillings in my I&M ATM Account?"

I&M is a member of a consortium of local banks that launched ATMs last year as part of a shared network project. The banking industry initiative is supported by the Central Bank of Kenya as a way of promoting a homogenous national payments system.