fittty: What is the full meaning of ATM??

At The Moment

I think its a good development.

Some of you guys dont really understand. There will still be charges involved when you use your ATM card in other banks but the goodnews is, the charges will not be paid by you but its your bank that will pay.

Looking at it from this perspective, i believe that instead of ATMs going offline, more ATMs will spring up. For example, GTB wont want to pay other banks for transactions made in location x, so what will they do? Mount an ATM there so that GTB users can use their ATM there, possibly other users will use it and GTB will get paid for those transactions.

The way i see it, no bank would want to be paying other banks for transactions so they will scatter as many ATMs as possible to care for the need of their customers...

Then all withdrawals has been suspended till then.

lekzy007: witth this policy about to implemented i can assure ATM users that most ATM machines will cease to have network.

nd mony go hard 2 dey d ATMs

I hope, this is not away of suffering Nigerians during this festive season, becos some BANKS don't like loading their ATM machine at all. And the Banks loading their ATM is for the charges they get.........Now where is the MOTIVATION? Nigerians.

Well done, Sanusi

femi4: Athletico Madrid

In a way u are kinda correct!

ziondaughter:


not having network isnt d issue but some bank's ATM will deny non customers access to withdraw cash. after all what is going to be their gain.

On point man

this is a welcome development although it isnt enough to sanitize the banking sector of the economy as well as reduce the rate at which customers are bn exploited.
Kudos to big broda sanusi.i hope he wl achieve much before the expiration of his tenure as cbn governor.THE PROBLEM WITH BB SANUSI IS THAT HE TALKS TOO MUCH AND ALWAYS FAIL TO MAKE GUD HIS WORDS.

femi4: Athletico Madrid

Lwkmd!!

IYA NGBALI: Thank God I will hold on till that time before I withdraw from my account

even from your own bank too??

ojoko1:

Automated teller machine

na you know book pass na. As if d meanin is not given in d main article. Shioooor

afam4eva: I hope all the banks comply with this. I don't know why they will still be charging ATM users when we didn't put a gun to their heads.

Na craz dey worri dia brain

ziondaughter:


not having network isnt d issue but some bank's ATM will deny non customers access to withdraw cash. after all what is going to be their gain.

that's not true. If you use other banks ATM,your bank pays for the service. So its left for them to deplore more machines to avoid such cost.

Let's see how it works out.

I guess some ATM machines will run out of network since there will be no more profit for the banks .but incase it did work ,it will be a welcome development.

fittty: What is the full meaning of ATM??

AUTOMATIC TELLER MACHINE. But popularly known as ANY TIME MONEY.

This is not new na.... Diamond bank has been doin it since june. I v been using my DIAMOND BANK ATM at any other place and no charges. So i think its tym other banks too follow d same thing.

I do not want to believe that bankers committee took this decision in consulation with the professional ebanking heads of their various banks. Sanusi must have as usual in his dictatorship manner arm twisted them to signing this memoradum just as he is giving deadline which typical of his style.

On the one hand going by our poor infrastructure total wipe out of the charges is an attempt to kill the zeal with which the banks have approached this service. Imagine that banks buy these machines at an average of 5M per ATM. They will provide power, pay staff who support the machines, deploy communication gadgets to connect the machines especially at offsite locations, pay the switching fee and yet they will be doing all this for free which one is CBN contributing to the survival of the bank and the ATM business.

This exercise will ultimately make banks concentrate in deploying ATMs at their bank branches only thereby taking us back to the era when cbn mandated banks to withdraw all offsite ATMs and ofcourse lay off those workers whose performance measures have to do with profitability of the ATM services.

Couldnt they just appeal to banks to reduce the charge from 100naira to fifty naira while those that can bear the charge go ahead and absorb it. Another thoughtless policy statement

emiye:

Why are you too concerned about the banks getting poor or poorer ? Do you own a bank?

What is important is you can use your ATM card at any bank at no charge! Kapish!!

I beg, tell them jare...

Has anyone withdrawn from other bank's ATM without being charged N100 as usual? I want to know how true their claim that the shit will stop today.

I didnt find 2day's experience 4ny at all. I went 2 use d ATM 2day, only 2 get der n saw a big crowd, i nearly fainted. Cards 4rm different banks. Evrybdy wntd 2 use dose ATM machines. 4ny enuf, dey wer jst 2 machines d bank has. One later broke down n pple 4rm dat machine had 2 join dose crowd of pple using d oda one. U can imagine close 2 50 persons trying 2 use one machine. See frustration. Not 4ny at all. Banks shd start making provisions 4 more dan 3 ATMs 2b used b4 pple collapse. It took me two good hours just to withdraw ordinary N5,000.

d-day has finally arrived hey?

Gee001: I didnt find 2day's experience 4ny at all. I went 2 use d ATM 2day, only 2 get der n saw a big crowd, i nearly fainted. Cards 4rm different banks. Evrybdy wntd 2 use dose ATM machines. 4ny enuf, dey wer jst 2 machines d bank has. One later broke down n pple 4rm dat machine had 2 join dose crowd of pple using d oda one. U can imagine close 2 50 persons trying 2 use one machine. See frustration. Not 4ny at all. Banks shd start making provisions 4 more dan 3 ATMs 2b used b4 pple collapse. It took me two good hours just to withdraw ordinary N5,000.

awoof they run bele

tundesto: Has anyone withdrawn from other bank's ATM without being charged N100 as usual? I want to know how true their claim that the shit will stop today.

it may be true cos of d crowd i saw 2day with cards 4rm different banks. I went to my bank though so i cnt tell.

Confirmed! I was at a Zenith Bank Branch yesterday and I withdrawn with my GTBank Naira Mastercard I was not charged the usual N100 ATM commission.

good to hear.looks like sanusi is working at last!

see dis peeps removed 100 naira from my withdrawal using my GTB ATM on a diamond bank machine...just now. I bliv dis should warrant 0.0 naira fee. I've sent a mail to GTB and I am definitely storming both banks tomorrow.