Wetin be di new ATM transaction fees wey CBN announce?
Wia dis foto come from, Getty Images
Central Bank of Nigeria (CBN) don increase di withdrawal charge for automated teller machines (ATMs) from 35 naira to 100 naira.
CBN give di directive for one circular 'Review Of Automated Teller Machine Transaction Fees,' on Monday, and e go take effect on 1 March.
Di document contain information on di upward charges of electronic withdrawal on ATM and international withdrawal for debit cards.
If na ATMs wey no dey for bank you use, dem go charge you 100 naira plus surcharge of not more dan 500 naira per 20,000 naira withdrawal.
Di surcharge, wey be income of di ATM deployer/acquirer, go dey disclosed at di point of withdrawal to di consumer.
"In response to rising costs and di need to improve efficiency of Automated Teller Machine (ATM) services for banking industry, di Central Bank of Nigeria (CBN) don review di ATM transaction fees prescribed for Section 10.7 of di extant CBN Guide to Charges by Banks, Oda Financial and Non-Bank Financial Institutions, 2020 (di Guide)," John S. Onojah tok.
"Dis review goi improve di deployment of ATMs and ensure say appropriate charges dey applied by financial institutions to consumers of di service. Accordingly, banks and oda financial institutions dey advised to apply di following fees wit effect from March 1, 2025."
Dis no be dis first time wey CBN go review ATM charges.
For 2014, CBN review di charges and fees for banking services in di kontri from 50 naira to 65 naira on any amount.
For 2019, CBN review di charges from 65 naira on di fourth withdrawal for one month on any amount to 35 naira, wey don dey in place until di latest change.
Nigerians for social media don react to di policy wey many pipo believe say e dey unnecessary, as dem accuse CBN of exploiting customers through di policy
Di new policy go change di arrangement of di charges from 35 naira for di third withdrawal for one month from anoda bank on any amount wey you input.
Chimgozirim Nwokoma ontop X tok say cash withdrawal don dey high for Nigeria ATMs and among POS agents.
"Weda you wan withdraw for ATM or you dey use POS terminal, getting cash don dey pricey for Nigeria. POS withdrawal charges don rise wen agents don dey complain about accessing cash. Now, wit di CBN recent move, ATM withdrawal charges dey go up," e tok .
Also Adun-Adebowale tok say within two month for 2025 federal goment don increase telecommunication, port charges and ATM charges.
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Wia dis foto come from, Getty Images
Here na di breakdown of di ATM charges wey CBN approve
Wia dis foto come from, Getty Images
For customers wey use dia own bank ATM cards within di bank premises, dem no go charge dem any amount.
Dem go apply charges for withdrawal from anoda institution ATM in Nigeria and na 100 naira for evri 20,000 naira withdrawal.
Dem go charge 100 naira and additional 500 naira for evri 20,000 naira withdrawal for ATMS wey dey outside of bank premises.
While for international withdrawals, for evri transaction weda debit or credit card, e go dey based on di international charges.
