First Bank shuts operations Thursday,reopens Monday

Customers of First Bank Limited may find it difficult to carry out some banking transactions from Thursday to Monday due to the decision to shut down the bank’s branches nationwide during the period.
The shutdown, according to the bank, is to enable it upgrade its core banking application from Finacle 7 to Finacle 10, which will ensure easier and faster customer services and experience.
Our correspondent gathered that the decision to shut down operations in order to facilitate the migration to Finacle 10 would affect the bank’s over 700 branches nationwide.
Apart from all the branches being shut, Point of Sale transactions and transaction alerts by Short Message Service will not be possible during the period. In addition, all card services, except Visa prepaid card, will not be available via Quick Teller and the Web.
First Bank said in an explanatory note, “All transactions that will impact on the banking platform e.g. settlements, inter bank (RTGS, NEFT, FIP) inflows, will not be available.”
However, the bank said skeletal services would be available on its ATMs throughout the migration period until 5pm on Sunday, and would be restored at 6am on Monday.

Culled from The Punch

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