Nigerians Urge CBN to Stop Charges on ATM Transactions

0 DAVID GODSTIME November 28, 2018

Nigerians have urged the Central Bank of Nigeria (CBN) to stop charges on Automated Teller Machines (ATM) transactions.

Noting that the charges were "worrisome and fraudulent, they made the call in Abuja on Monday during an interview with NAN.

The bank users noted that customers’ withdrawals with the ATMs of other banks had been unattractive because of the continued charge of N65 for every transaction, while commercial banks in the Federal Capital Territory had re-programmed their ATM.

The customers also lamented that if they had cause to withdraw N100,000 or more through other banks’ ATMs, it meant they would be made to part with more cash under the guise of ATM charges.

Godwin Onmonya, a Zenith Bank customer in Gwagwalada, said the ATMs of virtually all the banks in the neighbourhood dispensed a maximum of N10,000 per transaction.

“If you want to make withdrawals, you will discover that only a few ATMs are dispensing and they only dispense N10,000 per transaction. Recently, I wanted to withdraw above N100,000 and I went to another bank, only to discover that its ATM was dispensing only N10,000 per transaction. I also discovered I was charged N65 for every transaction, as I had exceeded the mandatory three withdrawals limit; this is outrageous,” he said.

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