13th November 2012, approved the immediate removal of the N100 charge
on customers who use the Automated Teller Machines of banks other than
theirs.
This is coming after lots of complains over the N100 charge especially
since the introduction of the CBN's cashless policy.
The Managing Director of First Bank, Bisi Onasanya told Channels TV at
the end of the Bankers' Committee meeting in Abuja that the decision
was in line with "popular trends" in other parts of the world.
"Presently when you use the ATM of a bank other than your bank, there
is a charge of N100 which is borne by the account holder. We have
decided that we will work out the modality and ensure that with
immediate effect we would pass on this cost to the respective banks
which bear the cost of providing services. No matter where you are
withdrawing your money from, you will not be subjected to any charge
for using the ATM."
According to him, the new policy does not cover withdrawals inside the
banking hall when the ATMs are off.
"But for transaction on what we call "not on us", when you are an FBN
customer and you use the ATM of a GTB bank, it is free and it will no
longer bear any cost.''
Mr. Onasanya said the free inter-bank ATM regime would become
effective immediately, pointing out, however, that the banks would
have to agree on the modalities for the implementation of the new
decision.
This sounds like good news and would go a long way in reducing long
queues at ATMs of banks who tend to have lots of customers.
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