With effect from April 1, 2013, there would be a new fee structure regarding automated teller machine (ATM) transactions in Nigeria. In the Revised Guide to Bank Charges issued by the Central Bank of Nigeria (CBN) this week [see here] and which will become effective on April 1, 2013, some far-reaching provisions have been made regarding ATM charges in Nigeria. Some of the provisions include the following:
- ATM card issuing fee: N1,000 (one-off charge).
- ATM bill payment: N100
- ATM card maintenance charge: N100 per annum.
- ATM transaction within the same bank: No charge.
- ATM transactions using other banks’ ATMs: No charge.
- ATM transactions on approved independent ATMs: N150 per transaction.