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Nairaland Forum / Nairaland / General / Business / Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN (21903 Views)
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Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by billante(m): 6:49pm On Nov 13, 2012 |
Users of Automated Teller Machines will no longerpay N100 on withdrawals whenever they use banks other than theirs, the Central Bank of Nigeria said on Tuesday. The decision was taken at the end of a meeting inAbuja between the CBN and the Bankers Committee. Managing directors of some banks also attended the meeting. The Group Managing Director, First Bank Plc, Mr. Bisi Onasanya, told newsmen that the charge as well as others associated with the use of ATMs would be scrapped soon. He said it was meant to encourage the use of ATMs. Onasanya said the decision would help to increase the patronage of ATMs, thus deepening the financial inclusion strategy of the apex bank. He said the modalities for the stoppage is being worked out adding that within the shortest time possible, the adjustments would be reflected in all the ATMs. “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,” he explained. According to him, the new policy does not cover withdrawals inside the banking hall when the ATMs are off. “But for transaction on what we call ‘not on us,’ when you are an FBN customer and you use the ATM of a GTB bank, it is free and it will no longer bear any cost,” he added. http://www.punchng.com/business/banks-to-stop-n100-atm-charge/ 9 Likes |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by luvinhubby(m): 7:10pm On Nov 13, 2012 |
Good riddance to a rubbish banking charge !!! |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by RedLight1: 7:18pm On Nov 13, 2012 |
Thats a welcome development.. The 100 naira charge can be a pain in the azz sumtimes..cus it destroy my bank figures 12 Likes |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by wesley80(m): 7:38pm On Nov 13, 2012 |
Wondering how soon the "soon" would be. 11 Likes |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by sessydoo(m): 7:43pm On Nov 13, 2012 |
ope oooo 7 Likes |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by adonisyung(m): 7:46pm On Nov 13, 2012 |
luvinhubby: Good riddance to a rubbish banking charge !!!can U̶̲̥̅̊ nigerians ever appreciate anything gud? Gush! 3 Likes |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by redcliff: 7:46pm On Nov 13, 2012 |
he sed soon. by then we for all don grow pink bia bia. That FBN is the most useless bank in Nigeria. Ther is no day their atm at ENITAN, AGUDA WORKS. Infact everywhere.. they would be happy cos e no concern them 2 Likes |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by redcliff: 7:47pm On Nov 13, 2012 |
adonisyung: can U̶̲̥̅̊ nigerians ever appreciate anything gud? Gush!plx wats there to appreciate with bank charges of 100 when using atm? 11 Likes |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by camcor(m): 7:48pm On Nov 13, 2012 |
Welcome development but how soon? 1 Like |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by naffysa(f): 7:50pm On Nov 13, 2012 |
Hope it will take effect before next year |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by cpacash: 7:56pm On Nov 13, 2012 |
Great news. Kudos to CBN. 1 Like |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by princemedico: 7:58pm On Nov 13, 2012 |
Nice development. This charge can make you walk a long distance (in order to get to your bank) when you don't have N100 to give a bank when withdrawing. 5 Likes |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by Nobody: 7:58pm On Nov 13, 2012 |
Even tho' we arent there yet. Our banking sector has bn doing fairly well. This is a good development if it works. It will definitely encourage banks to deplore more ATMs |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by slimyem: 7:59pm On Nov 13, 2012 |
Good one.. But let the soon be very soon o... I use other banks ATM a lot and the N100 dey always pepper me for body... I await the "soon"... 1 Like |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by Nobody: 8:00pm On Nov 13, 2012 |
![]() ![]() ![]() 8 Likes |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by danduchi(m): 8:00pm On Nov 13, 2012 |
It's a welcome development....These banks have used this medium to make unnecessary profit and still charge for monthly ATM maintenance.More monetary policies should be made in the banking sector.WELDONE Sanusi and pls,#1000 note should not be implemented. 2 Likes |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by godstino(m): 8:01pm On Nov 13, 2012 |
adonisyung: can U̶̲̥̅̊ nigerians ever appreciate anything gud? Gush!can u ever undastand a simple written sentence??read with ur cerebrum nt ur spinal cord... #ITK 11 Likes |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by Lawconfessor(f): 8:03pm On Nov 13, 2012 |
iOmoge: True Talk |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by Nobody: 8:03pm On Nov 13, 2012 |
![]() iOmoge: And they do not charge Card maintainance fee too :d |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by ideee03(f): 8:07pm On Nov 13, 2012 |
Goodnews... |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by jodam: 8:09pm On Nov 13, 2012 |
Some ATM machines are gonna stop working very soon. That N100 charge is the main reason some of these ATM machines have been working. Naija banking sector? There must be conditions attached 5 Likes |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by icceva(m): 8:17pm On Nov 13, 2012 |
billante: Users of Automated Teller Machines will no longerpay N100 on withdrawals whenever they use banks other than theirs, the Central Bank of Nigeria said on Tuesday.I̶̲̥̅̊ love that! ΨђåƮ about the §☺̴̩̩̥̩̩̩ called SMS charges? 1 Like |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by Nobody: 8:18pm On Nov 13, 2012 |
Hmmnn |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by IdeasDrive(m): 8:19pm On Nov 13, 2012 |
jodam: Some ATM machines are gonna stop working very soon. Exactly bro. My thoughts too. Why bother about 'maintaining' the ATM, since we now have a plethora of 'alternatives'.. As if to say, "you can go anywhere..I don't mind". *Thinking from the bank's perspective*. Its a good one though. I appreciate the motive. Blessings. |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by lekzy007(m): 8:22pm On Nov 13, 2012 |
ok......waiting mode activated |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by Nobody: 8:23pm On Nov 13, 2012 |
are u sure abt †ЂΞ info on diamond bank? i've bn gettin loads of custormer friendly news from ∂α† bank, i may av τ̅o change bank very soon. 1 Like |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by kollybay4u: 8:25pm On Nov 13, 2012 |
Believe me most of those bank ATM will not be available again because they will prefer that #100 on the counter than loading the ATM where no fees wil not be charge even when someone from another bank use it. 1 Like |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by tremor86: 8:28pm On Nov 13, 2012 |
at least d 100naira go go along way ... Even if na 3cups of garri...at al at all na winch 1 Like |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by gen2briz(m): 8:31pm On Nov 13, 2012 |
hummm when dis is fully implemented, am very sure dat 85% of wema atm's will stop working |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by Nobody: 8:32pm On Nov 13, 2012 |
jodam: Some ATM machines are gonna stop working very soon.i dnt think so... |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by Nobody: 8:36pm On Nov 13, 2012 |
I dont think its a good idea. Banks will stop loading their ATMs that are not within their periphery and they will stop building more ATM stands because they actually gain nothing from such investments. What I expected them to do was to reduce the levy to 20 Naira and encourage private business men to erect ATM stands and apply to Banks to use it for a fee so we can have more ATM machines everywhere. 3 Likes |
Re: Users Of ATM Will No Longer Pay N100 On Withdrawals - CBN by webizone(m): 8:39pm On Nov 13, 2012 |
danduchi: It's a welcome development....These banks have used this medium to make (b)unnecessary profit(/b) and still charge for monthly ATM maintenance.More monetary policies should be made in the banking sector.WELDONE Sanusi and pls,#1000 note should not be implemented. Unnecessary profits? Really? More like unnecessary charges, but actual profits. Not the inflated end of the year types. |
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