1. Cash withdrawal at the ATMs of
a customer’s bank is free
2. The first three transactions in a
month by the customer of another
bank are FREE for the card holder
but PAID FOR by the issuing bank 3. The N65 charge only applies when
a customer withdraws cash from
another bank’s ATM. The N65 starts
to apply from the 4th transaction
at another banks’ ATM in a month.
4. The ATM charge is not intended to discourage financial inclusion
5. Charging of fees on interbank
networks is a widely acceptable
practice globally
6. The CBN will not endorse any
anti-customer policy
7. ATMs are deployed to ensure
that customers enjoy banking
convenience.
www.nigeriacommunicationsweek.com.ng/e-financial/7-things-you-need-to-know-about-n65-atm-charge