Banking on student cash needs
By Elliott Platt
In case you have not noticed, the Bank of Montreal has removed several of its bank machines from campus, leaving students angry and wondering why they have to wait in line longer than usual to access their cash.
Gerry Shellington, assistant general manager of the University Students' Council, explained the machines were removed to make room for other banks to put their machines on campus. "What we are trying to do is get more banks in here to give more choice to students," he said.
The Bank of Montreal does not offer student loans which makes it difficult for students with loans to access their money, explained Jim Walden, general manager of the USC.
The Royal Bank and the Bank of Nova Scotia will be adding machines in the places where the Bank of Montreal machines use to be, Walden said.
Students will also not have to worry about paying a service charge every time they use another bank's machine, he added.
Dennis Le-May, manager of project administration and physical plant and capital planning services, said there will be three cash dispensers installed on campus. Both Royal Bank machines will be located in the University Community Centre, while the Bank of Nova Scotia machine will be located in the Natural Science Centre.
Students are, however, concerned about the long lines at the bank machines on campus.
Danielle Blake, a first-year arts student, said the bank machine across from the Pit Stop was recently out of order. "I walked into other buildings looking for a machine, I can't wait," she added.
"The long line made me 10 minutes late for class," explained frustrated first-year science student Jen Biederman.
News of different banks' cash machines has been welcomed by students like Blake. "I am with Royal Bank. With Royal Bank you don't have to take out $20 bills, you have more options."
The Royal Bank views their appearance on campus as a great opportunity to grow in the student market, said Lindsey Galloway, spokesperson for the bank. "The student market is very important, they are 'big time' customers."
The Royal Bank cash machines are planned to be installed on Oct. 29, but no arrival date has been determined for the Bank of Nova Scotia's cash machine, Le-May said.