CBN Reintroduces Commission Charges For ATM Withdrawals

The Central Bank of Nigeria has announced that it has re-introduced bank charges on Automated Teller Machines.

Customers will be charged N65 each time they make use of other bank's ATM machines and this new policy will take effect as from September 1, 2014.

CBN also stated in their published directive that the first 3 withdrawals in a month by a customer from other bank's ATM will be FREE but subsequently the customer will be charged the above stated fee.

Meanwhile, banks were initially charging N100 per transactions via ATM machines before CBN cancelled it in December 2012 but the system has now been re-introduced with a fair policy.

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