The Co-operative bank has already started redesigning their ATMs machines across the Country in an effort to accommodate the new generation currency.
The exercise is expected to end in mid-July where 580 ATM machines across the Country will be fully operational.
The automation of the machines is expected to end mid-July where 580 Machines will fully be operational.
The Co-op bank is the only financial institution in Kenya which has started the exercise of the automation.
“We’ve 580 ATMs, recalibration expected to be concluded in a months’ time, say mid- July,” reads a statement.
The small nature and new features of the currencies prompt the need for ATM upgrades and new money counting machines found in teller booths to verify cash amounts and capture counterfeits.
Early June, Co-operative Bank Group completed a major system upgrade. In a public notice, the lender, which has 155 branches, 11,600 banking agents and over 8.2 million customers said the upgrade was geared at improving the banking services experience.
“All our banking services will be switched off from 10.00pm Saturday 8th June to 8.00am Sunday 9th June 2019,” the lender said.
“This is to notify all Co-operative Bank customers and the general public that we will be upgrading our IT network to improve system performance and provide faster banking services,” said the bank.
“Therefore, all our banking services will be switched off from 10 pm Saturday 8 June to 8 am Sunday, June 9, 2019.”
The CBK redesigned the 1, 5, 10 and 20 shilling coins in December 2018 and begun releasing the new 50, 100, 200, 500, and 1,000 shilling notes in the second phase of the transition to the new currency.
The introduction of the new currency notes was in a bid to not only tackle illicit financial flows but also cash counterfeiting as well as to arrest tax cheats.