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ATMs were introduced to make cash available even after banking hours, reduce the long ques in banking halls and promote a cashless economy, but carrying out ATM withdrawals from any other bank in Nigeria usually attracts an additional charge of 100 Naira.

Because of this minor disadvantage, ATM users usually find a branch of their bank to make cash withdrawals.
(i don't think I've ever used my ATM on another bank.)

"100 naira is a small charge but" - That's what the rich would say, it could be the deciding factor whether you'll eat breakfast or not.

To this end, The Central Bank of Nigeria has announced that users of Automated Teller Machines will no longer pay N100 on withdrawals whenever they use banks other theirs.

CBN removes 100 Naira charge on ATM withdrawals

The decision was taken on Tuesday at the end of a meeting in Abuja between the CBN and the Bankers Committee.

Is this a bribe by the CBN for Nigerians to accept the Introduction of 5000 Naira notes and Coins?
This change is not extended to charges on using POS terminals in banking halls when ATMs are down.

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« Last Edit: November 14, 2012, 08:53 PM by Briggz5d »


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