Connect with us

Business

Central Bank of Nigeria reduced ATM withdrawal fee from N65 to N35 for the use of other banks.

Published

on

The Central Bank of Nigeria on Sunday reduced the withdrawal fee charged for the use of other banks’ Automated Teller Machines from N65 to N35.

The N35 ATM fee according to the CBN should be imposed on customers after the third withdrawal within one month.

The new directive is part of the major highlights of the new Guide to Bank Charges released by the CBN on Sunday.

It also removed Card Maintenance Fee on all cards linked to current accounts, and also asked banks to charge a maximum of N1 per mille for customer induced debit transactions to third parties and transfers or lodgments to the customers’ account in other bank on current accounts only.

Check Out  Amazon boss Jeff Bezos regains tittle of world richest man fews hours after loosing it to Bill Gate.

The guidelines also pegged the Advance Payment Guarantee to a maximum of one per cent of the APG value in the first year and 0.5 per cent for subsequent years on contingent liabilities.

The CBN warned banks to ensure full compliance to the new guidelines adding that any bank that violate the provisions of the guidelines would be sanctioned.

Team the360reporters is aimed at providing useful and valuable information such as News, entertainment updates, Job Updates, articles and many more, to the audience.

Popular Posts

error: Content is protected !!