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Banks begin N65 charge on ATM withdrawals

01 September 2014, 15:15

Lagos - Commercial banks all over Nigeria will as from Monday begin to charge customers N65 for using remote-on-us automated teller machines (ATMs) after the third of such withdrawals within a month.

Also read : N65 charge reintroduced on cash withdrawals on other banks’ ATMs

The move follows the re-introduction of charges on the use of ATMs by the Central Bank of Nigeria (CBN) in August

Remote-on-us ATMs withdrawals are withdrawals made from ATMs of other banks, not the one in which the account is domiciled.

With the policy, bank customers would not be charged for the first three transactions they make within a month on ATMs that do not belong to their banks, but would be charged N65 per transaction for every other transaction after that,

Bank customers would however not be charged anything if the withdrawals are made in banks where their accounts are domiciled.

Also read : CBN defends N65 charge on ATM withdrawals

-      News24

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