The Central Bank of Nigeria has issued a revised guide to drive financial inclusion
- Bank charge of N10 on transfers below N5,000
- N25 for transfers between N5,000 to 50,000
- N50 on transfers above 50,000
- ATM bank charge revised to N35 from N65 when you use other banks’ ATM
- The revised Guide to Charges by Banks, Other Financial and Non-Bank Financial Institutions takes effect on January 1, 2020
The Central Bank of Nigeria on Sunday reduced the withdrawal fee charged for the use of other banks’ Automated Teller Machines from N65 to N35.
The N35 ATM fee according to the CBN should be imposed on customers after the third withdrawal within one month.
The new directive is part of the major highlights of the new Guide to Bank Charges released by the CBN on Sunday.
