EFFECT OF ELECTRONIC BANKING SERVICES ON CUSTOMER SATISFACTION IN NIGERIAN DEPOSIT MONEY BANKS: MODERATING ROLE OF WAITING TIME

Abstract

This study examines the effect of Automated Teller Machine (ATM) services and moderating role of waiting time on customer satisfaction in selected deposit money banks in Nigeria. The population of the study is infinite. This is because, Nigerian banks allow account holders to use their ATM services regardless of whether or not they have account with them. A sample size of 384 is drawn from the infinite population table. The study employs stratified sampling and purposive sampling techniques. PLS-SEM version 3 is used in testing the hypotheses of the study. The findings of the study revealed that cash withdrawal, fund transfer and balance inquiry have positive significant relationship with customer satisfaction. However, waiting time does not moderates the relationship between balance inquiries in relation to customer satisfaction. On the other hand, waiting time moderates the relationship between fund transfer and customer satisfaction. The study recommends that Deposit Money Banks (DMBs) in Sokoto metropolis should stock their ATM machines with cash at all the times to ensure that cash withdrawals by customers are not hindered or distracted. Since cash withdrawal has positive and significant effect on customer satisfaction, banks should ensure that ATM machines dispense cash at any giving time. Moreover, banks should review their maximum withdrawal limit set for ATMs in order to improve the satisfaction of the customers, the problem of debiting customers’ account without dispensing cash should be addressed. The deposit money banks are strongly advised to always make all their available ATM machines functional as this will drastically reduce the time to be spent by the customers.