When Narendra Shah received a phone call that he had been selected to be the one finalist in The Provident Bank’s "Fast-Five" Sweepstakes, the North Bergen pharmacist and computer programmer didn’t believe it.
"I thought it was all some sort of a prank," Shah said. "But when I found out it was actually real, I was very excited."
Shah was selected randomly among 12,000 entries throughout Provident’s 48 New Jersey branches to participate in the contest, which was part of a promotional effort offering six-month rebates on automated teller machine (ATM) transactions provided participants opened a special checking account with the bank.
As the winner of the contest, Shah was given the opportunity to withdraw as much money as possible from an ATM in a seven-minute span. He had to press all the necessary buttons and complete each $500 transaction, then start again to withdraw an additional $500 – until he reached the maximum of $5,000.
Because he knew in advance that he was selected, Shah practiced using ATM machines all week prior to the fateful contest day last Friday.
"I was practicing the last couple of days, withdrawing money from my account, then depositing back in again," Shah said. "I wasn’t nervous at all. I was waiting for this day."
The big day
Last Friday, Shah was all set at the Jersey City Heights branch on Kennedy Boulevard, flexing his nimble fingers. His wife, Manorama, was nearby with a white whicker basket, to collect all the cash, which came out in $20 bills.
With bank officials manning the stopwatch, Shah went right to work and was flawless from the outset, never missing a single button. The practice had paid off.
He methodically withdrew the money at $500 increments, never flinching.
Two minutes into the contest, Shah let out an exclamation.
"I’m going to make it!" he said.
His daughter, Jigna, also a pharmacist, stood behind him.
"Don’t talk, Dad," Jigna said. "Just go."
Sure enough, Shah kept going, letting his fast fingers do the walking and talking and his wife do the counting.
"I really wasn’t nervous at all," Shah said later. "I knew that if I hit the wrong button, I would have to start all over, but I didn’t miss. And I wasn’t counting anything. I left the counting for my wife. I just made sure I didn’t make a mistake each step of the way."
He didn’t miss one beat.
"I was perfect," Shah said. "I was perfect every time."
As Shah got to the last of the 10 possible transactions, the timekeeper started counting down the seconds. As the seconds ticked down to the precious few, Shah was punching his fist in the air. He knew he was collecting the full $5,000.
"Once I got to the final transaction, I knew I had it all," Shah said.
"I wasn’t nervous either," Manorama Shah said. "I was confident he would get to $5,000."
When the seven minutes were over, the Shahs had $5,000 in cash. Alas, it was quickly turned over to bank management to be re-deposited.
It was a great way for the family to spend the Indian New Year, known as "Diwali."
"It was a perfect way," said Shah, who plans on using the money to visit his parents in his native India. He has not seen his parents, nor his wife’s parents, in more than two years. The Shahs have lived in North Bergen since arriving from India in 1982 and have been Provident Bank customers since then.
"We were very, very lucky," said Jigna Shah, whose sister, Murga, works for Nabisco and had to unfortunately miss her father’s mad dash for the cash.
Glenn Shell, Provident Bank’s executive vice-president and chief lending officer, was pleased with the results of the contest.
"It was a lot of fun and we’re very happy that Mr. Shah was able to get all the money," Shell said. "It was a little tense there in the final seconds, but he got it all. We’re pleased with the response we got from the entries and everyone got excited."
Shell said that the contest was supposed to end earlier in the year, but was temporarily suspended due to the World Trade Center tragedy Sept. 11.
"The company started the contest, then stopped it," Shell said. "It’s nice that it ended on such a happy note. And we’re happy to have such a winner at this time of year."
Shell said that the contest will go a long way to promote ATM usage throughout Provident’s branch offices.
"The fact that we allow $500 withdrawals," Shell said. "Some banks don’t offer that option."
Shah is happy that Provident offers that option.
"It feels great," Shah said. "I think my parents will be very surprised to see me."