afam4eva: Was any deadline given? If not then let's have a little patience cos they'll need to reconfigure the software on the ATMs.

Reconfigure ko software ni!
When the 100 charge was agreed it was implemented within 24hrs, how come removing it would take 24 months.
Naija no ni.

Does it include online transfer to another bank?

*My opinion on the proposed removal of inter-bank ATM withdrawal charges*

For example, if you use a GTB-issued ATM card on an ATM serviced by First Bank, your account will be charged N100. There has been a directive that no charges will be incurred for such transaction anymore, and it's expected its implementation will soon commence.

Even though it's a welcome development from a consumer's standpoint, I am not completely in support of the policy for one reason.

The reason is that it's capable of reducing the efficiency of the ATMs. By this, I mean that banks will not be motivated to fund their machines, and they may also be lazy about doling out new machines.

Imagine. Banks A, B, C and D have ATMs in an area. Bank E does not have an ATM in the area. Banks A, B, C and D will spend their money to replenish their ATMs while customers from Bank E that has no ATM in the area will collect money from the ATMs, at no cost. What incentive does Bank E have with regard to installing an ATM in the said area, since her customers can freely make withdrawals from ATMs installed by other banks?

binger: Implementation of policies take time in Naija.So,give it time

Yea, particularly if it is for the benefit of the people. If CBN had raised the interbank ATM charges, the banks would have imoplemented it within 24 hours. Nonsense!

Ds case Ȋ̝̊̅§ lk whn govt say fuel price hs bn rduce, whn U̶̲̥̅̊ gt 2filling station D̶̲̥̅̊ε̲̣̣̣̥γ̲̣̣̥ wil say we sy wait 4our engineer wy D̶̲̥̅̊ε̲̣̣̣̥γ̲̣̣̥ portharcourt 2cm aΩ̴̩̩̩̥d̶̲̥̅̊ change †ђξ meter price 4us. Bt if †ђξ price increase by †ђξ govt no engineer Ȋ̝̊̅§ rquired 2change it 4dm. So, ds banks r no diff 4rm ds filling station, al D̶̲̥̅̊ε̲̣̣̣̥γ̲̣̣̥ r afta Ȋ̝̊̅§ †ђξ money D̶̲̥̅̊ε̲̣̣̣̥γ̲̣̣̥ r mking 4rm ds ATMs

Bidexnoni: Hope they will nt come out wit sumtin worster dan dat?

yes! with something greater than your grammar!

The news said it's implementation is DECEMBER, guys pls be patient

engineerd:

Buhahahahah....How long does it take to reconfigure software?? Just to edit a line that probably looks like: >> Current Balance = Previous Balance-(amount withdrawn + 100)??.
If it were to "reconfigure" the atm to >>> >> Current Balance = Previous Balance-(amount withdrawn + 1000), it would have been done even before the announcement was made!!!
It's just plain greed.

Don't mind dem jare..jus to change a code that will be replicated across all domains naim hard? #smh

If it were to a situation of changing the ATM withdrawer charges to 200h, dem for don implement am since,abi?

I had noticed Diamond bank does not deduct N100 from my account when using others bank ATM since 5 weeks ago. But suddenly my ATM card has an Issue " Transaction not Valid " on Diamond Bank ATM and " CARD not smart" in other ATM. The card is Expiring the year 2015. I complained to Customer care, they said the PIN is damage. "HOW COME" I asked,They replied, Pls apply for another card. And I did, N1000 was deducted for that

charlsecy4: *My opinion on the proposed removal of inter-bank ATM withdrawal charges*

For example, if you use a GTB-issued ATM card on an ATM serviced by First Bank, your account will be charged N100. There has been a directive that no charges will be incurred for such transaction anymore, and it's expected its implementation will soon commence.

Even though it's a welcome development from a consumer's standpoint, I am not completely in support of the policy for one reason.

The reason is that it's capable of reducing the efficiency of the ATMs. By this, I mean that banks will not be motivated to fund their machines, and they may also be lazy about doling out new machines.

Imagine. Banks A, B, C and D have ATMs in an area. Bank E does not have an ATM in the area. Banks A, B, C and D will spend their money to replenish their ATMs while customers from Bank E that has no ATM in the area will collect money from the ATMs, at no cost. What incentive does Bank E have with regard to installing an ATM in the said area, since her customers can freely make withdrawals from ATMs installed by other banks?

I agree with you. I blogged about this here albeit with other reasons.

http://naijashaun..com/2012/11/the-100-naira-atm-charge-and-its.html

if the private sector can't get it right then what hope is there for Nigeria?.... There must have been considerable momentum before the announcement was made. I don't expect intellects at such high positions to act without thinking it through. The funny experience i had was that i used my ATM card on a 3rd party's equipment and didn't get the usual N100 warning; only for me to later get alert of N100 withdrawal after my transaction.......

Maybe the announcement was to DEACTIVATE the messages on ATM... We may never know

Which way Naija... God help all of us