CBN put ATM Fee at N65

Business News:

The Central Bank of Nigeria (CBN) has reinstated the Automated Teller Machines (ATMs) transaction fees it scrapped some months back. The CBN announced the development in a note to banks dated August 13, 2014, pegging the new fee at N65 per transaction for withdrawals from ATMs not operated by the bank that issued the debit card. Cash withdrawals on the ATMs of issuing banks shall be at no cost to the card holder. The directive takes effect on September 01, 2014. The apex bank had in December 2012 suspended the payment of N100 fee per transaction by customers.