6 days ago · With the new CBN ATM withdrawal charges taking effect on March 1, 2025, Nigerians should plan their transactions strategically to avoid unnecessary fees. The policy change is expected to impact customers who rely on other banks’ ATMs, making digital banking alternatives more appealing.

Feb 11, 2025 · On-site ATMs (within bank premises): A fee of N100 per N20,000 withdrawal will apply. Off-site ATMs (outside bank premises): A fee of N100 per N20,000 withdrawal, plus an additional surcharge of up to N500, will be charged. International withdrawals: The charge will be based on the exact amount imposed by the international acquirer.

5 days ago · The directive follows CBN’s revised ATM withdrawal charges proposed to take effect from March 1, 2025.. The policy has sparked reactions among Nigerians as a result of some gray areas. In an ...

Feb 12, 2025 · According to the latest directive from the Central Bank of Nigeria (CBN) effective March 1, 2025, bank customers will no longer enjoy the three free ... CBN Introduces N100, N500 Charges On ATM ...

5 days ago · In the document, the CBN also said withdrawals from the ATMs of one’s bank would remain free of charge. Read also. CBN instructs Access, Zenith, UBA, other banks on ATM withdrawal limits below N20,000 ... International ATM withdrawals will be subject to cost recovery charges, reflecting the exact fees imposed by international acquirers, Punch ...

Feb 11, 2025 · Under the new directive, withdrawals made from a customer’s bank ATM will remain free. However, customers using another bank’s ATM will now be charged N100 per N20,000 withdrawal when...

6 days ago · To minimize transaction fees, the CBN has advised customers to prioritize withdrawing money from their own bank’s ATMs. It also recommends exploring alternative payment methods such as mobile banking apps, POS transactions, and electronic transfers to reduce reliance on cash withdrawals.

6 days ago · The Central Bank of Nigeria (CBN) has issued a clarification on the newly revised N100 charge for withdrawals at Automated Teller Machines (ATMs) belonging to other banks, commonly referred to as “Not-On-Us” transactions. While initially met with some confusion, the CBN has emphasised that this fee applies to each N20,000 withdrawn, regardless of …

6 days ago · For international ATM withdrawals, charges will be based on cost recovery, meaning customers will bear the exact fee applied by the international acquirer. ... The CBN stated that the charge on ...

Feb 11, 2025 · Similarly, for withdrawals made at off-site ATMs—those located outside bank branches, such as in shopping malls, airports, petrol stations, and convenience stores—a charge of N100 per N20,000 ...