Central Bank of Nigeria What you Need to Know About the N65 ATM charge 1. Cash withdrawal at the ATMs of a customer’s bank is free 2. The first three transactions in a month by the customer of another bank are FREE for the card holder but PAID FOR by the issuing bank 3. The N65 charge only applies when a customer withdraws cash from another bank’s ATM. The N65 starts to apply from the 4th transaction at another banks’ ATM in a month. 4. The ATM charge is not intended to discourage financial inclusion 5. Charging of fees on interbank networks is a widely acceptable practice globally 6. The CBN will not endorse any anti-customer policy 7. ATMs are deployed to ensure that customers enjoy banking convenience.
Posted on: Tue, 26 Aug 2014 05:02:38 +0000
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