Nigeria's premier electronic switching company, Interswitch Limited, is set to take advantage of the cashless policy to make life even easier for the banking public. This is courtesy of its partnership with an cashless banking backbone agency, Beyond Branches.

The impact of this latest "igede" is simple. People who need to make deposits in a particular bank need not labour or journey to locate their own bank to make the payments or deposit cash. They can pay money into any bank and the account will be credited. Simple as ABC! This is similar to being able to withdraw cash from ATM machines whether it belongs to your bank or not with no extra charge. Imagine lower transport costs, shorter journeys, and avoidance of banks with notoriously long queues among other benefits.

http://kizarofaro..com/2014/01/nigerian-bank-customers-soon-free-to.html

this sounds really interesting. how true is this please? and when is this likely to take effect? I presently do most of my banking with GTB and the queues could be crazy

coal_coal: this sounds really interesting. how true is this please? and when is this likely to take effect? I presently do most of my banking with GTB and the queues could be crazy

This is very true and it will take off soon. The people at Beyond Branches are trying to get it started as soon as possible. Its good business for them at the end of the day. There will be a service charge of course