Money

CBN Reviews Bank Charges on E-Banking, ATM Transactions

BY NKECHI NAECHE-ESEZOBOR–Nigeria apex bank, the Central Bank of Nigeria (CBN) at the weekend released a revised guide to  bank charges on electronic banking transactions and other charges.

According to the CBN, the new charges indicated that electronic transfer below N5,000 by customers will attract a fee of N10., while for electronic transfers between N5,000 and N50,000 will attract a fee of N25.

The CBN disclosec this in its latest Guide to Charges by Banks and Other Financial Institutions just released by the CBN.

Charges where slashed for cash withdrawal via Other bank’s ATM to “maximum of N35 after the third withdrawal within the same month” from “N65 after the third withdrawal within the same month”.

Also. the CBN  removed Card Maintenance Fee (CAMF) on all cards linked to current accounts, a maximum of one Naira per mille for customer induced debit transactions to third parties and transfers or lodgments to the customers’ account in other banks on current accounts only.

Click here to read full PDF copy of revised Guide to Charges by Banks and Other Financial Institutions

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