The Central Bank of Nigeria has announced the reduction in the withdrawal fee charged for the use of other banks’ Automated Teller Machines.
The apex bank on Sunday December 22, announced that it has slashed banks' ATM withdrawal fee from N65 to N35. It also directed that the N35 ATM fee should be imposed on a bank user after the third withdrawal in a month.
In the new Guide to Bank Charges, Card Maintenance Fee on all cards linked to current accounts was removed as financial institutions were also ordered to charge a maximum of N1 per mille for customer induced debit transactions to third parties and transfers or lodgments to the customers’ account in other bank on current accounts only.