N100 ATM Charge: Finally Banks Comply

Over a month after the Bankers’ Committee announced that banks would no longer charge N100 ATM fee for withdrawals made by customers of other banks, compliance to the directive has begun.

This was after the December 17, 2012 deadline given by the Central Bank of Nigeria for banks to upgrade their systems and comply with the directive.

Visits by LEADERSHIP to ATMs around commercial areas in Lagos showed that many banks have complied to the directive as the N100 ATM fee was not deducted after withdrawals. Some of the banks visited include First Bank, Zenith Bank, Guaranty Trust Bank, UBA, Fidelity Bank, Access Bank, Skye Bank, Union Bank, Diamond Bank.

In the branches where this reporter made withdrawals, the charge was not deducted, although there were network failures at some of the ATMs.

Customers who spoke with LEADERSHIP on the development applauded the CBN for ensuring that the banks comply. Sola Bakare, a First Bank customer noted that “if the CBN had not intervened I am sure some of the banks would not have complied, but thank God that they have and the N100 charge will no longer be deducted and I can be confident to make withdrawals anywhere and not think of the N100 that they will take from my money.”

Another customer, Tokunbo Martins, called on the CBN to keep tab on the banks to ensure that the N100 cost is not transferred back to the customers via some other means.

The governor of the CBN had at the Bankers’ Committee retreat held recently in Calabar made the announcement of the December 17 deadline.

Source: Leadership

Finally, I can have saving from plenty N100 deductions on my Accounts.

abi o, no more thinking about where to withdraw again