Recently in Nigeria, the CBN came up with a gradual introduction of cash-less policy and this have constituted a controversial subject of debate at different levels of discussions and consequently becoming an interesting area of research. In this research, a Cashless Society is viewed as a society in which plastic money or any other technology that supports virtual transfer of money for goods purchased or services rendered are the sole modes of payment rather than as a society that operates the trade by barter system as the sole means of payment. The policy thrust of cashless policy centers on the use of electronic system for payment for goods and services instead of the presently used paper money. The successful realization of the policy thrust of cashless society rest entirely on the financial services rendered by banks and other financial institutions on one hand and accessibility of banking facilities by the people on the other. The Financial systems, all over the world are charged with the responsibility of providing the means through which goods and services could be conveniently paid for by buyers. One of the services provided by banks is electronic banking which is inclusive of ATM that allows withdrawal of cash and transferring of fund from one account to another.