7 things you need to know About N65 ATM charge


Morning dearies, you see I have special interest in this ATM charge payment because it concerns money and me especially each and everyone of us. I saw an important information this morning on Nigeria communication week so I though to share. Its not as bad as most of us think. Read below and smile: ( I know the one who withdraw N1000 daily will not smile but na una sabi )

 “Divergent views greeted the recent re-introduction of a charge of N65 per transaction on remote-on-us Automated Teller Machines (ATMs) cash withdrawals by the Central Bank of Nigeria (CBN). In a circular posted on its website titled: “Circular on the Introduction of Fees on Remote-on-Us ATM Withdrawal Transactions,” signed by Mr. Dipo Fatokun, director, Banking and Payment System Department, CBN, said that in collaboration with the Bankers’ Committee had in December 2012 transferred the payment of N100 remote-on-us ATM cash withdrawal transactions to issuing banks. Probably, the expressions of bitterness and grieves against the turnout of events might have spurred CBN which circulated on its social media platforms seven basic information on the re-introduced charge.They are as follows:  1. Cash withdrawal at the ATMs of a customer’s bank is free 2. The first three transactions in a month by the customer of another bank are FREE for the card holder but PAID FOR by the issuing bank; 3. The N65 charge only applies when a customer withdraws cash from another bank’s ATM. The N65 starts to apply from the 4th transaction at another banks’ ATM in a month; 4. The ATM charge is not intended to discourage financial inclusion; 5. Charging of fees on interbank networks is a widely acceptable practice globally; 6. The CBN will not endorse any anti-customer policy and 7. ATMs are deployed to ensure that customers enjoy banking convenience. CBN also encouraged bank customers and the general public to visit its site:www.cbn.gov.ng or follow us on twitter @cenbank or send your complaints to: cpd@cbn.gov.ng Article Source: http://nigeriacommunicationsweek.com.ng/e-financial/7-things-you-need-to-know-about-n65-atm-charge

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1 comment

  1. Okay what if i collect more than once a day…you see in this country every kobo counts..i mean it’s not so bad but you think am..N65 is money oh *no am not stingy pls*

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