Nigerian Banks Stop N100 Charge At ATM

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Nigeria’s Banker’s
Committee on Tuesday in Abuja unanimously agreed to stop interbank ATM charge
of N100, about 65 cents
Briefing journalists at the end of their meeting in Abuja, the
Managing Director of First Bank, Mr Bisi Onasanya, said the decision was in
line with “popular trends’’ in other parts of the world.
“Presently when you use the ATM of a bank other than your bank,
there is a charge of N100 which is borne by the account holder.
“We have decided that we will work out the modality and ensure
that with immediate effect we would pass on this cost to the respective banks
which bear the cost of providing services.
“No matter where you are withdrawing your money from, you will
not be subjected to any charge for using the ATM.
According to him, the new policy does not cover withdrawals
inside the banking hall when the ATMs are not working.
Source: PMNews

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