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Nairaland Forum / Nairaland / General / Business / Senate Asks CBN To Suspend ATM Card Maintenance Charges (21162 Views)
10 Banks Earn N22bn On Account Maintenance Charges (Names) / UBA Added N10 To Lady's N40 To Withdraw N52 For Card Maintenance / UBA Card Maintenance Multiple Charges (2) (3) (4)
Senate Asks CBN To Suspend ATM Card Maintenance Charges by 2mercy: 3:44pm On Oct 17, 2018 |
The Senate has urged the Central Bank of Nigeria (CBN) to look into the suspension of the Automated Teller Machine (ATM) maintenance and withdrawal charges by banks. This was after a motion on "illicit and excessive charges by Nigerian banks in customers accounts" was raised by Senator Gbenga Ashafa during the plenary session on Wednesday. Deputy Senate President Ike Ekweremadu seconded the motion, saying: "The ATM charge is not the only charge we get from the bank, there are VAT charges and so on; this is unacceptable. We have the Customer Protection Agency in Nigeria, but they are not living up to expectations." The issue generated much debate on the floor of the Senate and after much deliberations, a few resolutions were made. The Senate directed the committees on banking insurance and other financial institutions and finance to conduct an investigation into the propriety of ATM card maintenance charges in comparison with international best practices and report back to the Senate. It also mandated the committees on banking, insurance and other financial institutions and finance to invite the CBN Governor to appear before the body in order to explain why the official charges as approved by the CBN are skewed in favour of the banking institutions as against the ordinary customers of the banks. The lawmakers urged CBN to suspend the ATM card maintenance charges being deducted from customers accounts, just as they called on the CBN to instruct the commercial banks to configure their machines to extend to N40,000 per withdrawal, pending the outcome of the investigation by the committees. The Consumer Protection Council was called upon to be up and doing in taking up the plight of ordinary Nigerians by looking into the various complaints of excess and unnecessary charges by Nigerian banks. http://saharareporters.com/2018/10/17/breaking-senate-asks-cbn-suspend-atm-card-maintenance-charges 23 Likes 1 Share |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by redsquare(m): 3:50pm On Oct 17, 2018 |
Good. Let me see how all these Banks would be declaring bogus profits. What are they maintaining? UBA even charged me ATM maintenance charge when I do not have an active ATM. Crooks. 70 Likes 1 Share |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by badmrkt(m): 3:50pm On Oct 17, 2018 |
good...most active senate ever. 51 Likes 1 Share |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by obigenius(m): 3:51pm On Oct 17, 2018 |
FTC 1 Like |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by midolian(m): 3:51pm On Oct 17, 2018 |
Good one Even person wey no get ATM dey pay ATM charges. Saving money in the bank is a necessary evil. 16 Likes 2 Shares |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by oluwaahmed: 3:51pm On Oct 17, 2018 |
Unemployment looming in the banking sector 6 Likes |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by hucienda: 3:51pm On Oct 17, 2018 |
Way to go, Senate! Good one from Senators Ashafa and Ekweremadu. Crazy charges these commercial banks swindle folks with. Hope the CBN follows through to the latter. 43 Likes 2 Shares |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by Bawizzo(m): 3:51pm On Oct 17, 2018 |
Way forward, NASS the banking sector is the most fraudulent institute in nigeria. The incessant extortion of monies from customers is really mind boggling. The con3 sef tire me! 15 Likes |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by MrDexter(m): 3:51pm On Oct 17, 2018 |
Let’s wait and see 1 Share
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Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by Sonoyom(m): 3:51pm On Oct 17, 2018 |
Nice |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by fergie001: 3:51pm On Oct 17, 2018 |
Good for them Those people ehn |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by maxiuc(m): 3:52pm On Oct 17, 2018 |
![]() Skyepolaris own worst pass the moment 500h is remaining in my account the way it burns down to 50naira I don't know Chai ATM withdrawal 10k per withdrawal nonsense 1 Like 1 Share |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by Nobody: 3:52pm On Oct 17, 2018 |
And they should activate my first bank account o.... I no fit stress myself 1 Like |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by Bluecurtain: 3:52pm On Oct 17, 2018 |
Yes,,, I've been meaning to ask,, how is my bank helping me to maintain my ATM card that's resting in my wallet ![]() And again,, how come I'm the one that pays for SMS being sent to me. How can recipients be charged for messages being sent to them ![]() ![]() Bankers!!! Over to you. Modified - back in the days, when you keep your money with the banks,, it increases,, but these days, deposit 10k in your account, bank will destroy the money. SMS charges Card maintenance Using another ATM etc Before you know it,, 10k has turned to#8,980. Rendering the money almost useless for the intended purpose. 78 Likes 8 Shares |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by LZAA: 3:52pm On Oct 17, 2018 |
2mercy:Only in nigger area ![]() Cc immhotep justiceleague1 sarrkimyruv ![]() 3 Likes 2 Shares |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by xtravanganza: 3:52pm On Oct 17, 2018 |
that's good.... Waiting for implementation to take place 3 Likes |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by Koolking(m): 3:52pm On Oct 17, 2018 |
ATM card maintenance charge is one of the biggest scams by Nigerian banks. Good move by the Senate. The rip off is too much 17 Likes 1 Share |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by 1miccza: 3:52pm On Oct 17, 2018 |
Yes oo CBN oya let's go there... 1 Like |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by Ibrahim9090: 3:53pm On Oct 17, 2018 |
The bank charges is getting crazy good move 2 Likes 1 Share |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by truely: 3:53pm On Oct 17, 2018 |
Good move at least I see one better tin this Bleep up govt do... 1 Like |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by allanphash7(m): 3:53pm On Oct 17, 2018 |
Kli don't know the card they are maintaining Are they the one keeping my card for me Awon Olosi dede 2 Likes |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by pat077: 3:53pm On Oct 17, 2018 |
Good one. It's so annoying that u can't withdraw more than 10k from some atm and they will still charge you 65 naira after ur third withdrawal if it's not ur bank. 4 Likes 1 Share |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by afamaustin(m): 3:53pm On Oct 17, 2018 |
This is the best thing this govt HV said 2 Likes |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by Nobody: 3:54pm On Oct 17, 2018 |
LZAA:When finance minister dodged nysc and proceeded to forge certificates. SMH 3 Likes 1 Share |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by gen2briz(m): 3:54pm On Oct 17, 2018 |
I'll be very happy 3 Likes 1 Share |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by patrickbch(m): 3:54pm On Oct 17, 2018 |
This is long overdue. Na now day just break for their eyes? Though better late than never. 6 Likes |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by pacoson: 3:54pm On Oct 17, 2018 |
Can dey do i |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by hopexter(m): 3:54pm On Oct 17, 2018 |
Misplaced priorities. Of all the issues in Nigeria and the recent killings of kidnapped victims, this was all the useless senate committee could could deliberate on. ![]() 2 Likes |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by Sleekfingers: 3:54pm On Oct 17, 2018 |
Nice move... But is it gonna work? The way Firstbank and uba is deducting my money...i am tired.... |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by SOLUTION99(m): 3:55pm On Oct 17, 2018 |
UNION BANK OWN PLENTY |
Re: Senate Asks CBN To Suspend ATM Card Maintenance Charges by rhemiza(m): 3:55pm On Oct 17, 2018 |
Yea... Especially Eco bank they make their 10k per withdrawal. About 650 on hundred thousand. 1 Like |
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