No more N100 Inter Bank ATM Transaction Charges From 17th December - CBN

Following the outcome of the Bankers Committee meeting where it was agreed that N100 ATM service charge would be stopped, the Central Bank of Nigeria has announced that starting from next week Monday, December 17, 2012, customers of deposit money banks will no longer pay N100 on withdrawals from Automated Teller Machines whenever they use banks other than theirs.

Mr. Lamido Sanusi, the governor of the CBN, gave the good news on Sunday at the fourth Annual Retreat of the Bankers Committee in Calabar. He said that the  bank would begin the effective implementation of the removal of bank charges associated with the use of other banks’ ATMs by customers from next Monday.

“We have agreed on a final date of Monday 17, December, 2012 for the kick-off, when every bank will remove the charges. We allowed some time for banks that have not configured their IT to do so and stop charging, and hopefully by 17th of December, you are not going to have any customer pay additional charges.” Sanusi announced.