slimyem: Good one..
But let the soon be very soon o...
I use other banks ATM a lot and the N100 dey always pepper me for body...
I await the "soon"...

mfm04622: Do Nigerians remember the saying that there is no free lunch anywhere? So who bear the rent for space, cost of construction, cost of ATM, cost of inverter, cost of power supply, cost of salary for the ATM custodian? What of the cost of providing switch? Who pay interswitch that make it possible for ATM machine of Bank A to see your account in Bank B? Or cost of network link? What will be the incentive for Banks to expand the ATM network? To me (my opinion) this is another big mistake from CBN. Let's wait and see how it works. The number of posts supporting this confirm that Nigerians love awoof.

groovie: that 100 naira isnt for atm maintenance, rather it goes to interswitch (i dont know what they use it for) so the banks dont really lose anything. and its no excuse for poor atm service abeg

kaysy: when Soludo was the gov of cbn we used to have atm around the metropolis even without having any bank residing around them, but banks are so fraudulent that they profiled some of them to alway have dispense error to lower cash withdrawals where the owner may just overlook it, when sanusi came in he ordered for the removal of all atm's that's not within a bank, so the illusion of adding private investors are out of it completely. people are just shouting here that no profit from using atm again, have they forgotten that current account holders also uses atm? what i see here is that saving account will soon be scrapped somehow and banks will make everyone to use the current account where atleast cot can be charged. its good for everyone to have a first hand knowledge of banking operations so that they can understand what is actually happeneing there

centje: i dnt think so...

doopsy: .
what you don't know is that a percentage goes to interswitch,the issuer's bank and the servicing bank.

adonisyung: can U̶̲̥̅̊ nigerians ever appreciate anything gud? Gush!

jodam:

Then, be ready for ATM card maintenance charges within a month.

centje: i dnt know abt other banks buh banks i transact with deduct the maintenance fee monthly.

billante: Users of Automated Teller Machines will no longerpay N100 on withdrawals whenever they use banks other than theirs, the Central Bank of Nigeria said on Tuesday.

The decision was taken at the end of a meeting inAbuja between the CBN and the Bankers Committee.

Managing directors of some banks also attended the meeting.

The Group Managing Director, First Bank Plc, Mr. Bisi Onasanya, told newsmen that the charge as well as others associated with the use of ATMs would be scrapped soon.

He said it was meant to encourage the use of ATMs.

Onasanya said the decision would help to increase the patronage of ATMs, thus deepening the financial inclusion strategy of the apex bank.

He said the modalities for the stoppage is being worked out adding that within the shortest time possible, the adjustments would be reflected in all the ATMs.

“When you use the ATM of a bank other than your bank, there is a charge of N100 which is borne by the account holder.

“We have decided that we will work out the modality and ensure that with immediate effect we would pass on this cost to the respective banks which bear the cost of providing services.

“No matter where you are withdrawing your money from, you will not be subjected to any charge for using the ATM,” he explained.

According to him, the new policy does not cover withdrawals inside the banking hall when the ATMs are off.

“But for transaction on what we call ‘not on us,’ when you are an FBN customer and you use the ATM of a GTB bank, it is free and it will no longer bear any cost,” he added.



http://www.punchng.com/business/banks-to-stop-n100-atm-charge/

gen2briz: hummm when dis is fully implemented, am very sure dat 85% of wema atm's will stop working

chux76: Are we not missing some vital info here..read the emboldened properly...banks can use that in their favor.

Emperor5c: Gudnews o! Imagine me trekin 4rm hiltop 2 UNN gate jst 2 withdraw #500 4rm darlin diamond bank.coz i dare nt withdraw 4rm UBA wich iz jst few steps away 4rm hiltop 4 fear of losin a “live savin“ #100 bucks
100bucks wey i go cari chop beta yam-beans 4 mama ebuka cateen

fatai2:

But Diamond bank machines don't accept all banks card.

fatai2:

But Diamond bank machines don't accept all banks card.

goldylock:

Only for diamond bank customers.

Jenams: are u sure abt †ЂΞ info on diamond bank? i've bn gettin loads of custormer friendly news from ∂α† bank, i may av τ̅o change bank very soon.