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Nairaland Forum / Nairaland / General / Business / Banks Reduce Withdrawal Limits On Atms - Vanguard (65275 Views)
Firstbank ATMs – Accounts For 37% Of Bills Payment Services On ATMs In Nigeria / CBN Reviews Limits On Mobile Money Transaction, Balance / Banks Reduce Lending To Economy By N292bn In Q2 – Nbs (2) (3) (4)
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Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by sniperwolf(m): 7:53am On Aug 11, 2015 |
How will this bring about the change in the economy? |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by hazyfm1: 7:53am On Aug 11, 2015 |
NAH NAH NAH CLOSING MY A/CS LOOKING FOR A FOREIGN BANKER |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by donholy28(m): 7:53am On Aug 11, 2015 |
Freemanan:As long as na my money limit no supposed dey in addition to d money dem charge 4 using ATM |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by Nobody: 7:53am On Aug 11, 2015 |
SPG4U: |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by brightleave(m): 7:54am On Aug 11, 2015 |
main while mchewwwwwww :-Xmain while mchewwwwwww |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by slap1(m): 7:54am On Aug 11, 2015 |
MrCuddles:You've led the way. |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by Nobody: 7:54am On Aug 11, 2015 |
donholy28:Okay. Sorry... I thought you know what the topic is about... Apologies... |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by grandstar(m): 7:56am On Aug 11, 2015 |
fatdon2: its wrong to call someone brainless. The man is a good banker but a lousy economist. He should be replaced 2 Likes |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by ZUBY77(m): 7:56am On Aug 11, 2015 |
Nonsense.. Great that I have 7 Atms here in Asia. Always ahead. |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by Nobody: 7:56am On Aug 11, 2015 |
sniperwolf: For now....it would hold down inflation....and buffer the value of the naira. 1 Like |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by Nobody: 7:57am On Aug 11, 2015 |
fatdon2:THERE IS NO NEW CBN MAN. ITS STILL THE SAME PERSON 1 Like |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by easyfem(m): 7:57am On Aug 11, 2015 |
let keep praying for buari |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by zicoraads: 7:57am On Aug 11, 2015 |
Adesiji77:Am still trying to understand it, how is online banking to the rescue? |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by donholy28(m): 7:57am On Aug 11, 2015 |
Freemanan:u never dey situation way u need like 500k and d fastest way to withdraw na ATM den dem come say na only 60k u fit withdraw 4 d day...person wey u keep 4 hospital fit die sef 1 Like |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by Nobody: 7:58am On Aug 11, 2015 |
fatdon2: Well,you would STILL be able to withdraw up to N150000 on a card that is enabled for domestic transactions only. The policy affects ATM cards used for local and foreign transactions. 2 Likes |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by Nobody: 7:59am On Aug 11, 2015 |
What is the economic importance of this crazy policy. Abeg cbn make I no vex for una ooo |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by Nobody: 7:59am On Aug 11, 2015 |
donholy28: But before you could not withdraw up to N500000 in one day on an ATM in Nigeria. And anyway.....use a chequebook. 1 Like |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by Nobody: 8:00am On Aug 11, 2015 |
dapyd1: My thoughts exactly. The Big picture is quite blurry. This is more like throwing the baby with the bath water. CBN has consistently turned a blind eye to the real cause of all this mess. Banks are heavily engaged in round tripping and everyone pretends like they dont know. The banks have consistently heated up the financial atmosphere in Nigeria and now the whole thing is about to go burst and yet here again is CBN putting a hedge around them. This does not sound good at all. Businesses that are still struggling to cope with the unusual terrain in Nigeria have finally being given the death kneel. Did they forget that people engage in normal transactions. N60,000. What is that supposed to do? 4 Likes |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by rexel99: 8:00am On Aug 11, 2015 |
[b]In the new arrangement, all ATMs that were hitherto enabled for domestic and foreign transactions have been restructured to limit Naira cash withdrawal at ATMs to N60,000 per day while foreign currency is $300 per day. Hitherto, the domestic withdrawal limit was N150,000 per day.[/b) Junk journalism. It's sad that this came out fron a mainstream media company not an online medium. The withdrawal limit is still N150,000. The N60,000 on applies to withdrawals abroad. It's foolhardy to think the CBN would reduce the local withdrawal limit when the are trying to push forward the cashless policy.reducing local withdrawal has no bearing on tightening the naira freefall in the forex market. 8 Likes 1 Share |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by donholy28(m): 8:01am On Aug 11, 2015 |
bushdoc9919:it seems u wr d one that didn't read |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by eunisam: 8:01am On Aug 11, 2015 |
mad policies, good for students. bad for business. carrying my cash with me joor
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Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by cehnigeria: 8:03am On Aug 11, 2015 |
lets give Emefiele a benefit of doubt Read Customer Relationship Management articles @www.cehnigeria.com |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by shadowripper(f): 8:03am On Aug 11, 2015 |
Best way forward You ask me why? Ask China. This is another way of imposing what China did some years back. By pegging how we spend, we will focus on other areas that has been laying there just looking. Now, all attention will go to Aba made shoes instead of buying the italian one online for $1,298. On the long run, we are making this country a better place forcefully. |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by Reference(m): 8:03am On Aug 11, 2015 |
What kind of rubbish news is this. I've not been able to withdraw more than N60,000 cash a day for ages. I've gone completely cashless since late last year. My token has now become my new atm card as those around me know. 'Sorry, no cash. Give me your account number.' Hopefully for me the days of stinky, filthy currency will be over. They can limit it to N100 for all I care. 2 Likes |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by sexycristabel: 8:03am On Aug 11, 2015 |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by Sinbad2(m): 8:03am On Aug 11, 2015 |
This will increase robbery as those rogues now knows people will have money at home 1 Like |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by Nobody: 8:04am On Aug 11, 2015 |
donholy28: I did... From the article... In the new arrangement, all ATMs that were hitherto enabled for domestic and foreign transactions have been restructured to limit Naira cash withdrawal at ATMs to N60,000 per day while foreign currency is $300 per day. Hitherto, the domestic withdrawal limit was N150,000 per day Your original comment implied that you could withdraw up to N500000 in one day from your account via ATM cards (which is not possible unless you have up to 3 cards attached to the account). And like I said....you can still withdraw the N500K.....via your chequebook. 2 Likes |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by anigold(m): 8:05am On Aug 11, 2015 |
ELVISHOT: Are they fighting inflation or what? is this how to fight devaluation of the naira.. What a primitive and ineffective measure instead of working on diversifying the economy and not dependent on crude oil revenue... The problem is that our economy basically depends on the prices of crude oil on the international market... Until when we improve other sectors like Agriculture, Technology,tourism etc; the value of the naira will still crash down like a pack of cards... |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by Progressive15: 8:05am On Aug 11, 2015 |
This is another unfair policy on the part of banks.This is my mone and why now? |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by Atlantian: 8:06am On Aug 11, 2015 |
I dont really understand why the Buhari administration is making life very difficult for the people. There is permanent scarcity of Petrol, now one can not even access own money. So, what am I supposed to do with 60k a day ? We are forced to go into the branch again when ATM was supposed to reduce the queues in the banking halls. 2 Likes |
Re: Banks Reduce Withdrawal Limits On Atms - Vanguard by Progressive15: 8:07am On Aug 11, 2015 |
This is another unfair policy on the part of banks.This is my money and why now?There is God ooooo! |
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