lekadornis: Hmm....someone is dancing to the tunes of the CABALS in the banking industry already

Emefiele this one too early ooo

I think we shouldn't blame eme for this ,this decision is a decision reached and taken by all parties in the banking industry but I don't see it materialising,the fg can use it to score a political point buy wading it and telling cbn to hold on or stay action until further notice

All Sanusi's good policies will be overturned before you say Jack we are back to square one

Missing SLS

Don't worry dis is just d beginning

I tink we all have de right to complain. But remember COT has gradually move down 4rm 5 per mill to 2 naira very soon dia will be ZERO COT in all transanction, so many bank charges has been trim down, how do we expect dem to succeed, expand and employ more workforce 65 is big yet we did not complain wen we ar bin charge 100 a liter of diesel is 125 some branches burn diesel 4rm morning till night, pls let encourage dem. Remember many has gone under.

This is totally wrong! This shows the complete lack for vision of the administration. The best way to have imposed the cashless policy would have been the way SLS left it. Obviously they have their aim to make us suffer!

This is wrong! Sincerely nothing has made me happy about this administration except when GEJ made a law against gays. that's d only positive thing I see.

As far as I'm concerned you have not convinced me enough. I don't see any concrete reason. Seriously!

It is OK. It is even very risky to use other banks ATM in case of card getting trapped. Moreover, the new policy said the first three in a month is free.

konga82: I tink we all have de right to complain. But remember COT has gradually move down 4rm 5 per mill to 2 naira very soon dia will be ZERO COT in all transanction, so many bank charges has been trim down, how do we expect dem to succeed, expand and employ more workforce 65 is big yet we did not complain wen we ar bin charge 100 a liter of diesel is 125 some branches burn diesel 4rm morning till night, pls let encourage dem. Remember many has gone under.

noone is saying they shouldn't charge for atm withdrawals but that the charges are too high , does that mean that someone who wants to withdraw 1000 will be charhed 65 naira ?in order to make ppl use the atm more ,reduce the fees to 10naira or 20 naiara per transaction on another bank atm ,remove the 3 free transactions. Believe me ppl won't complain

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.

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/

Just a year ago

ayukdaboss: Our banks may pay for our ATM services but they steal much more secretly or openly. Every month FirstBank charges me about 160naira for SMS charges and some other things I don't even understand yet I don't get any messages at all from them.

My folks who use more services at the bank complain about secret minor deductions regularly etc. yet this man wants us to start paying for out atm services. These banks are clearly getting more gain from us than this 65 naira we're about to start paying them. So if I wan withdraw 1k for another bank I go pay 65naira??

Oh Sanusi where art thou?? Come and save your people

What do you expect? He came from zenith bank so iam not surprised

I just wonder why those in "authority" in Nigeria, are always so inclined to institute more poverty on the people?

From FRSC - New Plate Number to New Driver's License!
From NERCD - Regular increase in Electricity Tarrif and Fixed Charge, yet power supply is dwindling on a daily basis!
From the 'Telecoms Regulator" - We still pay the highest amount per minute call, all over Africa!

Now, its one more additional banking charge.... when banks all over the world are doing away with these extortionist fees!

Why are these people so GREEDY AND WICKED TO NIGERIANS......

...and WHY ARE NIGERIANS SO DOCILE, GULLIBLE AND READY TO ACCEPT ANY UNDUE PUNISHMENT METED TO THEM?

And for those of you saying "Sanusi this, Sanusi that", l think you need to examine your heads because Sanusi is part and parcel of these thieving elites! Its like using Kettle to replace Pot ....al na "black"!

****shakes head in disbelief****

Lastpage!

How does the charges burden the bank? This does not stop them from churnning out impressive turnover every quarters.

Oh mean c gobe

from the recent financial reports i ve been hearing,i personally dont think the new CBN governor has something special to offer us(Nigeria). Missing Soludo and Sanusi already.

I believe this is a welcome development: I'm saying this because when the N100 charges was suspended, most banks that have ATM outside their premises feel reluctant to fund the machines. Every organization is run with the aim of making profits, so why will they spend their resources building ATM at remote areas, fund it and not make a profit?
With this re-introduction, we are likely to see more ATM installed all over the street corners, markets and shops.

That's the way I see it.

During Sanusis last lap as CBN governor, it was a tale of crucify him, now a capitalist minded CBN governor (Emefie?) is out to strangle the common man.Yesterday it was gradual devaluation of the naira (forex rate has hit the roof), today it is re-introduction of ATM charges, tomorrow does not look bright.I think we will come to regret all we did to Sanusi because of religion, politics and ethnicity.

[size=19pt]That is what happens when u use a senseless major stakeholder to head their governing body.[/size]

So, how do we protest?

Do they ever get anything right in this country

Really? Ok na. *TROW AWAY MA ATM AND JOIN THE QUE*

onatisi: noone is saying they shouldn't charge for atm withdrawals but that the charges are too high , does that mean that someone who wants to withdraw 1000 will be charhed 65 naira ?in order to make ppl use the atm more ,reduce the fees to 10naira or 20 naiara per transaction on another bank atm ,remove the 3 free transactions. Believe me ppl won't complain

I believe the article says the charges will be on a 4th withdrawal within same month. Proper planning will save you the stress and charges of using an ATM 4 times in a month.

Honestly, most ATM outside the bank premises don't have cash on weekends because the banks don't see any need to fund their machines for others to use it up. This new policy will encourage banks to open more outlets and it will be easier for us the users.

Its this kind of policy that Nigeria institutions implement Asap,, but if its to the advantage of the common Man it would b delayed in implementing...or not implemented at all....
I'm going to withdraw my Money before September ..lolz.

Naija!!! A single step forward, million step backward. What a country!!!

Does this stop the destroying of cards that got trapped in other-banks ATM machines.??

imhomoh: The Central Bank of Nigeria (CBN) yesterday directed deposit money banks in the country to re-introduce a charge of N65 per transaction on remote-on-us Automated Teller Machines (ATMs) cash withdrawals.
The policy takes effect from September 1, 2014.

Remote-on-us are transactions done by a card holder on another bank’s ATM. The central bank stated this in a circular addressed to all banks, dated August 13, 2014.

A circular of the document titled: “Circular on the Introduction of Fees on Remote-on-Us ATM Withdrawal Transactions,” signed by the Director, Banking and Payment System Department, CBN, Mr. Dipo Fatokun, was posted on the regulator’s website yesterday.

The CBN in collaboration with the Bankers’ Committee had in December 2012 transferred the payment of N100 remote-on-us ATM cash withdrawal transactions to issuing banks. This fee used to be shared between the acquirers, issuers and switches.

However, on the commencement of the arrangement in December 2012, banks (issuers) decided to waive the issuer fee (N35), which should have ordinarily been an income to them. Consequently, banks only bore the cost of N65 each time their customers use another banks’ ATM.

However, the central bank explained that it took the latest decision as a result of the unintended consequences on banks. This, it said had resulted in substantial cost burden incurred by banks in defraying the cost for the service.

According to the CBN, the re-introduction of the fee was to cover the remuneration of the switches, ATM monitoring and fit-notes processing by acquiring banks.

“The new charge shall apply as from the fourth remote-on-us withdrawal (in a month) by a card holder, thereby making the first three remote-on-us transactions free for card holders, but to be paid for by the issuing bank.

“September 1, 2014 shall be the effective date for the implementation of the new fee,” it added. To this end, it urged banks to conduct adequate sensitisation of their customers on the policy.

“All ATM cash withdrawals on the ATM of issuing banks shall be at no cost to the cardholder,” it explained.

Meanwhile, in a separate circular on the review of the operation of the NIBSS Instant Payment (NIP) system and other electronic payment Options with similar features, the CBN expressed its preparedness to further strengthen the risk aversion measures put in place for the operations of the NIP system and other electronic payment options.

“The CBN has directed the categorisations of online transfer from low security to highly secured transfer with specified limits. Banks are expected to achieve “Highly Secured Online Funds Transfer” status within six months, that’s, with a deadline of December 2014.

“Limits of N1 million (instant value) and N10 million (next day value) shall be applied for NIP and other electronic payment options with similar features, initiated by individuals with effect from 18th August, 2015,” it stated.


Source : http://www.thisdaylive.com/articles/cbn-reintroduces-charges-on-cash-withdrawals-on-other-banks-atms/186280/

THIEVES

That CBN governor.. is from ZenithBank.. and if u use zenithbank service u will know that the only thing they know is charges upon charges.
The early days of atm craze in 9ja. Zenithbank charges it own customer for using the zenithbank atm machine.

I am not surprise.

Hi guys, remember its on the fourth withdrwal in the same month... I don't think its a bad idea. If u notice u can not use some bank ATMs on some oda banks machines, because of the banks bearing all d cost... With dis intro I think u will be able to use your ATM anywhere any time....

Ekans: During Sanusis last lap as CBN governor, it was a tale of crucify him, now a capitalist minded CBN governor (Emefie?) is out to strangle the common man.Yesterday it was gradual devaluation of the naira (forex rate has hit the roof), today it is re-introduction of ATM charges, tomorrow does not look bright.I think we will come to regret all we did to Sanusi because of religion, politics and ethnicity.

That's 9ja's major problem, always using religion and tribe to judge someone, more especially if the person is from the northern part!!! This is just the beginning. May God save us. Missing HRH SLS

Which kain con3 be dis self
They never do anything good that lasts
A senseless, thievery and fooling policy
Thunder faya emewayray
GEJ and PDP at it again.
clueless m0rons.
My people!
We need to SAY NO!!! to this nonsense
Riot
Fight
protest

Yungwizzzy: And I follow jubilate when sanusi was removed

God please forgive me

better