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CENTRAL BANK ISSUES NEW GUIDELINES, SLASHES AUTOMATED TELLER MACHINE WITHDRAWAL CHARGES

The Central Bank of Nigeria has issued new guidelines to banks in Nigeria which has it that charges on ATM withdrawals in a separate bank’s machine after a third monthly transaction will now be N35,contrary to N65 currently being charged

Penpushing reports that, the new guidelines are contained in a circular to banks and non-bank financial institutions dated December 20, while the Apex Bank also fixed N1,000 to replace or renew a Debit Card.

This news guidelines means that customers who use their ATM cards to withdraw cash in machines other than those of their banks will now pay N35 per withdrawal after the first three withdrawals in a month.

Lush Arena

Penpushing further reports that, the Central Bank of Nigeria(CBN) in the new guidelines explained that the first three withdrawals from a separate bank’s ATM per month will remain free of charge.

Details coming…

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