hollandis:
You guys are both saying the same thing.Englishhhh,engrish

What are you saying? Re-read his post and tell me if it's the same thing with after the third withdrawal.

Learn to read and comprehend.

omodapson: Charges should apply after the fourth withdrawal. I don't know where Ecobank is getting their interpretation from.

But N65 come money wey person go dey complain? Smh.

korel9: I don't know why Nigerians always want everything for free.
You have no idea how much we're charged here in the states for such transactions.

It is only when you pay for something that you can demand for continuous and effective running of such service.

AND DO U KNOW HOW MANY JOB OPPORTUNITY IS IN THE STATE, when the masses are suffering, why would they complain.

WarHorse1:


Please answer these questions?

1. Do you know how much money banks make with our deposits?

2. Do you know that with the down-sizing of most banks, this service can be offered free?

3. Do you know that bank have obligation to give deposits at request from customers without charge?

pathetic Abi,as a banker is it ur father that will pay the staff or is it ur father that will pay the running and total operations of the bank,people like u are the type that cause scene in the banking hall Becos u want to withdrawal 2k instead of using the atm

lincolnj88: when people are talking u better kip ya mouth shut.......rbs charges 5 pounds monthly for using own atm, even standard charted, barclays is d worst on a nigerian perspective..... Please come out from ogbomosho, ode

Then you should start using HSBC. HSBC never charged me on 1 cent. I ensured they made that clear to me. I have used other bank atm so many times but none charged me.

lat4real: I don't really care, nah to go back to my old system of keeping my money...

Inside KOLO

i dey come ur house by 12 midnite. Make u surrender dat money to me.

delastbishop: Sanusi I love.

off course because you are not a Banker

What is the problem with we nigerians, do you know that each Atm machine costs about 5million naira, and count how many of it a bank has in all there branches, where do u think they will get money to service all d machines. 65 naira is not 2much for d service a month.

Yes 65 is too much for bank withdrawal from other banks.

jidxin: hmmm days nija 4 u.....lie is dia watch ward

gbagauns how far for this one na?

akpanikpe: But N65 come money wey person go dey complain? Smh.

we students can use it and soak garri dat will last us a whole day

Poverty is bad!
Chai! See as men dey cry for jux 65 naira!

2n2k: @OP. Nobody lied to you. You misled yourself. Most people would just read the topic title and make comments without bothering about the content or comments/clarification by other posters.

The original letter from the cbn was uploaded in the previous thread and I upload it again here for your information.

Like in football, everybody, to your club bank. We will know which bank satisfies its customers more in ATM service. Opportunity for banks to differential their ATM services. Maybe the following can help the differentiation

1. Cozy conditioned ATM facility

2. Sanitizer dispensers

3. Soft drinks vending machine

4. Shoe Shinning service at entrance (lol ) I don out of suggestions

5. Mirrors for waiting ladies to make-up

so and so. That kind thin.

If we continue to want everything for free then it means we are not ready to move forward, how on earth do we expect them to manage and maintain the ATMs we are in a capitalist economy and not a socialist type, and how much is 65 naira by the way, and if u're not good with it y not use ur Bank's

lafuria1: Yes 65 is too much for bank withdrawal from other banks.

Don't worry bro, we will review it after Jonathan wins 2015 election, possibly take it back to normal N100. I will ensure I bring it up at the Federal Executive council meeting in 2015. Pls jus bear with us. Thank you

tobyemmanuel: Not my business. I don open account for every bank in nigeria. Anywhere I see atm na to put their card in.

Lol. Funny guy. So you'll carry all the bank ATM cards around with you everywhere you go?

NaLaugh: Wait, were all ATM transactions free in Nigeria?

Correct me if i'm wrong, but by my math - this adds up to about 40 cents ONLY WHEN you use a 3rd-party ATM 3 times a month.
I understand the economic climate in Nigeria is rough, but come on.. that's a pretty sweet deal if you ask me.

If it makes you feel any better, here is what it costs each time i use a 3rd-party ATM.

ATM fee: $2.50 -$4 (could be up to $20 in some establishments like clubs etc)
PLUS
Out of network charge: $4 (charged by my bank- for having the audacity to use any other ATM)

Therefore, most times i use the ATM, it costs the Naira equivalent of about NGN1,050 - NGN1,300 ($6.50 - $8 ).

While i am not advocating the CBN's move, i'm just saying- it could be worse. Interconnectivity costs money.

Then again, they probably should have done their sustainability study a little better, to know if or not they could keep that up in the first place.

U must be silly to compare banks and dia operations in watever God-forsaken-country you are with the kind of the one rendered plus lots of hidden charges we pay here. My organization is still in court with a bank who has been charging a client indiscrimately since the past 5 years.

NaLaugh: Wait, were all ATM transactions free in Nigeria?

Correct me if i'm wrong, but by my math - this adds up to about 40 cents ONLY WHEN you use a 3rd-party ATM 3 times a month.
I understand the economic climate in Nigeria is rough, but come on.. that's a pretty sweet deal if you ask me.

If it makes you feel any better, here is what it costs each time i use a 3rd-party ATM.

ATM fee: $2.50 -$4 (could be up to $20 in some establishments like clubs etc)
PLUS
Out of network charge: $4 (charged by my bank- for having the audacity to use any other ATM)

Therefore, most times i use the ATM, it costs the Naira equivalent of about NGN1,050 - NGN1,300 ($6.50 - $8 ).

While i am not advocating the CBN's move, i'm just saying- it could be worse. Interconnectivity costs money.

Then again, they probably should have done their sustainability study a little better, to know if or not they could keep that up in the first place.

On point bru, on point

blink182: Some weeks ago after news of reintroduction of atm charge appeared, the CBN was quick to say it will be after three times of withdrawing and they gave no time limit if it was for thrice a day or month.

Nigerians in their minds assumed it had to be 3 times a day. How wrong we were for it is three times a month. The CBN expects situations where we withdraw from other bank atms to only happen three times a month?

Emefiele has given us a taste of the sort of economic management to expect from him. One built on lies, deceit and putting unnecessary financial burden on the common man.

This is a lie against CBN. CBN made it so clear that its after three withdrawals in a month

Nigerians sha.... Always looking for free things.



Its only the student i'm more concern about,the rich can afford it.


Opening a bank account is not a tedious task,you can easily open an account with any bank closer to you..

Don't get stuck with one bank,spread ya tentacle

I don't care if CBN makes it 100naira. I'm only concerned about all these money going into one man's purse because one can do bribery and corruption in Nigeria and go away with it.

korel9: I don't know why Nigerians always want everything for free.
You have no idea how much we're charged here in the states for such transactions.

It is only when you pay for something that you can demand for continuous and effective running of such service.

I no want fight but I go yarn my mind. If you dey states this matter no concern you

Because why ? States I no sure say network dey disappear for ATM

Every corner every shop , every mall ATM dey there , visa , master , amex , simple , Walmart ATM dey full everywhere

Why you even mention US ? My uncle is a citizen and I know a bit , if your account is domiciled in US , you are charged less per transaction but if you operate a domiciliary account based in Nigeria they charge 1k+ which is less than $9 per transaction


US you have credit as citizen , no strike , no delayed salary and no pension scam and absolutely less robbery , you can keep your cash at home and not even lock your door , can you do that in NG ?

Ng salary is barely enough to pay for house rent , kids and personal expenses , you can't cash out your salary at once via ATM. So , if you need 1 k to fuel your car but don't want to travel with cash , perhaps from Lagos to Ibadan to pay for some stuff but don't want to carry cash , people use ATM as much as thrice a day , that's 65 x 3 =195 x 20 days a month =3,900 out of 17,500

More importantly , no ATM network , unable to dispense cash , no debiting your account when ATM did not give you any cash , SMS charges nko ? and like a million people on queue because your own bank's network isn't available , does that happen in US ?

Minimum balance Na 1k for first bank savings acct , if you withdraw twice that's 130 , ATM no go dispense 870 or 500 especially for students ,and parents won't calculate ATM charges when they send you pocket money or school fees


My take is , abeg no put mouth for this matter , if US news dey you fit comment anyhow but 9ja news ? No even try am

Meanwhile join the campaign

@CBN #revertATMcharges. Until world standard ATM / banking services is provided

korel9: I don't know why Nigerians always want everything for free.
You have no idea how much we're charged here in the states for such transactions.

It is only when you pay for something that you can demand for continuous and effective running of such service.

It doesnt necessarily have to be free, it would have been better if CBN made this clarification. CBN mislead us purposely. When i said this in the office this morning, everyone were arguing with me that the deduction is daily not monthly.

princefunmi:

Because of 65 naira.

Nigerians sha! They only think with their noses.

Go to the UK and see how much they charge.

Mtcheeeeeeeeeeeeeeewww!!!!!!

Wetin concern me with UK ba? If they like make them charge £10 per transaction, that's none of my biz

Charging #65 after 3 transaction from other bank's atm is still fair enough. Common people how do we expect em to maintain the maintain the atm machines. Just been fair though

omodapson: Charges should apply after the fourth withdrawal. I don't know where Ecobank is getting their interpretation from.

Not AFTER d fourth witdrawal, ON d fourth withdrawal..dats after d third. Its clearly stated by CBN...where r u getting ur interpretation frm??

theking5: What is the problem with we Nigerians, do you know that each Atm machine costs about 5million naira, and count how many of it a bank has in all there branches, where do u think they will get money to service all d machines. 65 naira is not 2much for d service a month.

Before you start forming rich here, answer this question

65naira multiplies by the number of on-us-ATM with-drawer transactions in a month, what will it come to?

If there are 6410 of such transactions in a month on an ATM machine, in a year, the banks gets back its =N=5m. Now what is the useful life of an ATM machine? Also compared with the number of terminated staff, I don't see why they cannot continue as usual. They done a lot of cost shedding. They should now see their ATM as staff.

And for your notice, the fee is not because of cost of ATM machine. It is said to be for offsetting inter-switching and processing cost.

blink182: Some weeks ago after news of reintroduction of atm charge appeared, the CBN was quick to say it will be after three times of withdrawing and they gave no time limit if it was for thrice a day or month.

Nigerians in their minds assumed it had to be 3 times a day. How wrong we were for it is three times a month. The CBN expects situations where we withdraw from other bank atms to only happen three times a month?

Emefiele has given us a taste of the sort of economic management to expect from him. One built on lies, deceit and putting unnecessary financial burden on the common man.

funny CBN

korel9: I don't know why Nigerians always want everything for free.
You have no idea how much we're charged here in the states for such transactions.

It is only when you pay for something that you can demand for continuous and effective running of such service.

dont mind them bunch of lazy peeps i get charged for nothing less than $3

TUNFOL: U must be silly to compare banks and dia operations in watever God-forsaken-country you are with the kind of the one rendered plus lots of hidden charges we pay here. My organization is still in court with a bank who has been charging a client indiscrimately since the past 5 years.

Have you ever heard of punctuation? It helps you sound less like an illiterate.

I will not grant you the satisfaction of an exchange beyond this one, as your point (or the lack thereof) has nothing to do with the topic.

I'm not on this site to pick a fight with anyone. If you do not agree with my comment, then simply say so without name calling. You know.. like an educated person.

By the way, the U.S has its flaws- but is far from a "God-forsaken-country" as you put it.

WarHorse1:

Before you start forming rich here, answer this question

65naira multiplies by the number of on-us-ATM with-drawer transactions in a month, what will it come to?

If there are 6410 of such transactions in a month on an ATM machine, in a year, the banks gets back its =N=5m. Now what is the useful life of an ATM machine? Also compared with the number of terminated staff, I don't see why they cannot continue as usual. They done a lot of cost shedding. They should now see their ATM as staff.

And for your notice, the fee is not because of cost of ATM machine. It is said to be for offsetting inter-switching and processing cost.

and is 65 too much?