Sincerely, u av spoken well. In my own perspective they are trying to protect there selfish interest. For instance, they do deduct conveniency fee or charges from atm withdrawal from other banks or any online or mobile transfer.
2ndly, they want to use style to reduce cost by laying off workers if less people come to bank for transactions by implication leads to increase in unemployment.
They shd also try and solve the issue of all these atm withdrawal error. So I submit

What the h..l is going on in this country?
Every policy is set to siphon the masses dry, no policy or law from any agency, either government or private has favored the common man, it's always increasing the hardship.

Mind you, this has started way before Gej or PMB.

Increased:
Call tariff
PHCN bill
Transport fare
Custom duties
House rent
Exchange rate


Haba! Walahi I am tired.

Lovetinz:
The Problem: N10,000 limit. The Solution: Withdraw N9,500 Ten times.

9500 50 times jare

.

I pray they won't implement it because more bank Tellers will be sack. Secondly if this will happen then the ATM limit per day should be like 300,000 (which make no semse)

So you people want my retiree parents to queue at the ATM till someone scams dem of their savings by fraud eh?
Una dey mad!if dis one hapun,i go relocate dem oh!
10k is less dan 300 dollars!
Iti boribo everywhere!

I will only comment on charge back called dispense errors on ATM because I don't have facts regarding the reduction on ATC (across the counter) limit. I trust CBN to ensure customers complaints/fears as per TAT on dispense errors resolution is addressed before approving further reduction. The major concern as highlighted by OP is failed transfers and delayed resolution. Intrabank resolution of dispense errors are within 24hours while interbank is 5days but they will lie to you that it 3 weeks! Some banks have been able to make it immediate reversal. The various platforms used for electronic transfer has improved and will continue to be.

Nigeria one day one problem

timilehing:
They should also limit over the canter deposit to 10000

Was about to say this too, I wanted to buy something in mushin today and was going from anthony village to mushin,
All 8 atm banks in anthony didn't pay, I journeyed to mushin, I got there, from idioro to olosha bustop are about6 banks and none paid,
Tell me if stuffs like this happen , whst will people do?
To me internet banking is dangerous

maximunimpact:
We reported earlier on “a proposal to limit the over the counter cash withdrawal by bank customers to N10,000 which has been tabled before the Central Bank of Nigeria (CBN). The Sub-committee on Payments Systems and Infrastructure of the Bankers Committee last week sent the proposal to the CBN. The proposal was presented at the committee’s meeting but it is not clear whether it was considered. The CBN is expected to “give feedback on the request”.

The banks by the proposal want to further compel bank customers to use e-banking channels, e.g. ATMs, internet banking etc. However when there is a dispute involving transactions on any of those channels it takes a long time before they are resolved and customers often go through harrowing experiences before a resolution is reached. For instance in cases of ATM dispense errors (i.e. ATM fails to dispense cash but customer account is debited) involving the ATMs of two different banks, it takes sometimes over a month before there is a reversal of the debit and in some instances there is no reversal at all and the banks will go to court insisting that there was a withdrawal without providing conclusive evidence of such withdrawals like ATM camera footages as required by CBN guidelines. See for e.g. the cases of KUME BRIDGET ASHIEMAR vs. GUARANTYTRUST BANK PLC (GTB) & UNITED BANK FOR AFRICA (UBA) PLC, Suit No: MHC/198/14 and BARR. TIMOTHY TION vs.FCMB LTD & UBA PLC. (Suit No. MHC/161/16), pending before the Benue State High Court of Justice, Makurdi.

Further evidence of how it takes long for ebanking disputes between banks and customers to be resolved can be found in my own case where I sent an email to the Central Bank of Nigeria’s (CBN’s) Consumer Protection Department (cpd@cbn.gov.ng) over a disputed ATM withdrawal since December, 2015 and I did not get any response whatsoever from the Consumer Protection Department till date.

It is even doubtful if there are enough ATMs to service customers who will have to resort to ATM withdrawals if across the counter cash withdrawal is limited to N10,000.

I therefore, call on the CBN and bank customers to reject the proposal by Deposit Money Banks to limit over the counter cash withdrawal by bank customers to N10,000.

The following stories illustrate the suffering bank customers in Nigeria go through using e-banking channels especially ATMs:

http://www.financialwatchngr.com/2016/06/13/reject-n10000-withdrawal-limit/

There are pros and cons to the idea of 10k withdrawal limit . most important thing is to doing first thing first by :
- Ensuring and enforcing prompt resolution of dispense error
- High level security on payment cards and alternate channels
-friendly usage of alternate channel which will require little or no assistance e.g ATM in local language
-availability of ATM machines etc .

maximunimpact:
We reported earlier on “a proposal to limit the over the counter cash withdrawal by bank customers to N10,000 which has been tabled before the Central Bank of Nigeria (CBN). The Sub-committee on Payments Systems and Infrastructure of the Bankers Committee last week sent the proposal to the CBN. The proposal was presented at the committee’s meeting but it is not clear whether it was considered. The CBN is expected to “give feedback on the request”.

The banks by the proposal want to further compel bank customers to use e-banking channels, e.g. ATMs, internet banking etc. However when there is a dispute involving transactions on any of those channels it takes a long time before they are resolved and customers often go through harrowing experiences before a resolution is reached. For instance in cases of ATM dispense errors (i.e. ATM fails to dispense cash but customer account is debited) involving the ATMs of two different banks, it takes sometimes over a month before there is a reversal of the debit and in some instances there is no reversal at all and the banks will go to court insisting that there was a withdrawal without providing conclusive evidence of such withdrawals like ATM camera footages as required by CBN guidelines. See for e.g. the cases of KUME BRIDGET ASHIEMAR vs. GUARANTYTRUST BANK PLC (GTB) & UNITED BANK FOR AFRICA (UBA) PLC, Suit No: MHC/198/14 and BARR. TIMOTHY TION vs.FCMB LTD & UBA PLC. (Suit No. MHC/161/16), pending before the Benue State High Court of Justice, Makurdi.

Further evidence of how it takes long for ebanking disputes between banks and customers to be resolved can be found in my own case where I sent an email to the Central Bank of Nigeria’s (CBN’s) Consumer Protection Department (cpd@cbn.gov.ng) over a disputed ATM withdrawal since December, 2015 and I did not get any response whatsoever from the Consumer Protection Department till date.

It is even doubtful if there are enough ATMs to service customers who will have to resort to ATM withdrawals if across the counter cash withdrawal is limited to N10,000.

I therefore, call on the CBN and bank customers to reject the proposal by Deposit Money Banks to limit over the counter cash withdrawal by bank customers to N10,000.

The following stories illustrate the suffering bank customers in Nigeria go through using e-banking channels especially ATMs:

http://www.financialwatchngr.com/2016/06/13/reject-n10000-withdrawal-limit/

There are pros and cons to the idea of 10k withdrawal limit . most important thing is to doing first thing first by :
- Ensuring and enforcing prompt resolution of dispense error [b][/b]
- High level security on payment cards and alternate channels
-friendly usage of alternate channel which will require little or no assistance e.g ATM in local language
-availability of ATM machines etc .

omojoshy:
Make we reject the 10k withdrawal limit?

As if we get choice...2nd base jare....

soak away de or under mattress.bank run every pay day will reset their brain

kolnel:
Who still go to banking hall to withdraw less than 140k ?
Cashless is the way to go

you never do come today come tomorrow bfor na in de gi you mouth to talk. you think say errybody de farm six figures like you

Zenith Bank defrauded me three thousand Naira at one of their ATM machines in Enugu state. I pressed ten thousand naira button but it only paid me seven thousand naira. I complained and was told to write formal letter to the branch manager which I did immediately but till today since last year, they have not refunded my money. It's really disgusting and disappointing to say the least

Like... is it by force to put your money in the bank at all?
E-banking is the way to go...
I won't patronise you if you don't use a POS. I actually ask for it prior to making any transaction else, I pay you with my phone.
Thing is, you are not ready to do business or work in the corporate world if you're not ready to upgrade to E-banking.

globatop:
What can naija do successfully?

..wail successfully and still do nothing!

Icemany:
So you people want my retiree parents to queue at the ATM till someone scams dem of their savings by fraud eh?
Una dey mad!if dis one hapun,i go relocate dem oh!
10k is less dan 300 dollars!
Iti boribo everywhere!

boss, 300 dollars is more than 100k naira now, one hundred thousand bro not 10k

mikolo80:
soak away de or under mattress.bank run every pay day will reset their brain

LOL

Banks have no right to limit the amount a customer can withdraw over the counter. It is even illegal.

PapiDShipCapt:
on a second thought still, why don't we bank customers limit our cash deposit into the bank to #10,000 weekly or monthly. or better still we close our account with the bank.

Nonesense bank people, all I see is laziness in the banking sector and a way of reducing their work load as they r sacking their staffs. If we don't lodge our hard earned funds in d bank there won't be business for them. so why stressing customers over their hard earned money?

You're making sence bro...

this is the 4kt system of Nigeria. I'm going back to using my safe box, abi nah bottle şef.

On Thursday evening b4 a public holiday on Friday and Monday (Easter). An ATM debited me my last N20k without paying. It was a very very terrible experience.

Nigeria is screwed. Even some banks in USA $800 per day, Malaysia 5k ringgit 250k naira, SA 5k rands. Buhari e no go take style better for you o.

gmaribel:
On Thursday evening b4 a public holiday on Friday and Monday (Easter). An ATM debited me my last N20k without paying. It was a very very terrible experience.

sometimes they will say u'll get a reversal within 24hrs, 24hrs will turn to a month no show, later 3months and counting. follow that matter up with wahala if possible cause trouble coz thats d only way u'll get ur funds back.

PapiDShipCapt:
on a second thought still, why don't we bank customers limit our cash deposit into the bank to #10,000 weekly or monthly. or better still we close our account with the bank.

Nonesense bank people, all I see is laziness in the banking sector and a way of reducing their work load as they r sacking their staffs. If we don't lodge our hard earned funds in d bank there won't be business for them. so why stressing customers over their hard earned money?

this is y d westerners will always b ahead of us! Even if there r gnna b shortcomings that doesn't mean it's a bad idea. We must start frm somwhr even if there r gnna b stumbling blocks, buh we wuld get over it overtime.
It a gud 1.

This policy kinda sucks asssss.

1. Not enough ATMs.

2. Might lead to unemployment as the banks will need lesser staffs to be ran.

3. I cant count how many times i have had to help people use the ATM.

lrguru:
boss, 300 dollars is more than 100k naira now, one hundred thousand bro not 10k

Thanks mate! Meant 30 dollars!

maximunimpact:
We reported earlier on “a proposal to limit the over the counter cash withdrawal by bank customers to N10,000 which has been tabled before the Central Bank of Nigeria (CBN). The Sub-committee on Payments Systems and Infrastructure of the Bankers Committee last week sent the proposal to the CBN. The proposal was presented at the committee’s meeting but it is not clear whether it was considered. The CBN is expected to “give feedback on the request”.

The banks by the proposal want to further compel bank customers to use e-banking channels, e.g. ATMs, internet banking etc. However when there is a dispute involving transactions on any of those channels it takes a long time before they are resolved and customers often go through harrowing experiences before a resolution is reached. For instance in cases of ATM dispense errors (i.e. ATM fails to dispense cash but customer account is debited) involving the ATMs of two different banks, it takes sometimes over a month before there is a reversal of the debit and in some instances there is no reversal at all and the banks will go to court insisting that there was a withdrawal without providing conclusive evidence of such withdrawals like ATM camera footages as required by CBN guidelines. See for e.g. the cases of KUME BRIDGET ASHIEMAR vs. GUARANTYTRUST BANK PLC (GTB) & UNITED BANK FOR AFRICA (UBA) PLC, Suit No: MHC/198/14 and BARR. TIMOTHY TION vs.FCMB LTD & UBA PLC. (Suit No. MHC/161/16), pending before the Benue State High Court of Justice, Makurdi.

Further evidence of how it takes long for ebanking disputes between banks and customers to be resolved can be found in my own case where I sent an email to the Central Bank of Nigeria’s (CBN’s) Consumer Protection Department (cpd@cbn.gov.ng) over a disputed ATM withdrawal since December, 2015 and I did not get any response whatsoever from the Consumer Protection Department till date.

It is even doubtful if there are enough ATMs to service customers who will have to resort to ATM withdrawals if across the counter cash withdrawal is limited to N10,000.

I therefore, call on the CBN and bank customers to reject the proposal by Deposit Money Banks to limit over the counter cash withdrawal by bank customers to N10,000.

The following stories illustrate the suffering bank customers in Nigeria go through using e-banking channels especially ATMs:

http://www.financialwatchngr.com/2016/06/13/reject-n10000-withdrawal-limit/

This is a proposal that is very inappropriate. This is where we are:

1) Nigeria still has a very high percentage of her populace uneducated and unbanked;
2) this unbanked percentage still rely on cash transactions. Inter and intra-bank transfers are impossible for this group;
3) ATM is grossly inadequate, and where they are, some banks hardly load them regularly;
4) power supply for electronic devices is still epileptic thus timely execution of e-payments would be a big challenge;
5) POS is not widely deployed. Many businesses are yet to employ them due to fear of technical difficulties;

What we must do:

1) ensure that at least 90% of the unbanked gets banked;
2) provide at least 80 percent of SME customers with POS machines;
3) improve on power supply to support e-devices such as POS, smartphones, computers and ATMs;
4) deploy ATM galleria in every 10-30km radius of cities and rural areas;
5) implement a strict regime of ATM functionality across banks. CBN must sanction defaulting banks;
6) drastically reduce or eliminate ATM withdrawal charges and outrageous interbank transfer charges.

Conclusion:

I know our banks are looking at the seamlessness of banking in most western nations but Rome was not built in a day. We are a nation in darkness as per electricity, so a lot of things won't be seamless yet. We need time to fix the problems I stated above. We need time to build that cashless attitude.

General Advice for ATM Users

When you go to an ATM booth and notice that a machine is standing idle while people are queuing on others, DON'T use it because chances are that it might debit you, especially if it had a cash jam.

Secondly, if you have to fill a dispense error form in a branch of a bank, keep an update on them by calling a head office customer care line (find a way of getting it). Some banks would simply "file" your complaints and keep posting you for several weeks or months without doing the needful reconciliation.

dey dia dey waste ur tym. even if they bring am down to 5k u no get option cos weting the gvt approv na im b ultimate

[quote author=maximunimpact post=46539997]

Do we have an explanation/reason for move, nay, suggestion?
So if say person wan touch base for villa to see how im project dey waka and ran out cash, im go drive enter city to the nearest ATM to withdraw such huge sums to pay for labour and materials.

Is it not huge cash transactions that take most people to the ATMs?
If it is my money, why shouldn't I use it as I wish?
Most of our policy makers do not read/research issues widely before going into conclusions.

I wil not agreet with that nosen,in situation u have a wife that labour and u need a cash of fifty thousand neira how can u do