@nairabytes:
Profit from atm commissions cannot be tax-free, I wonder where you got that notion from. No bank makes 'billions' from rubbish atm charges in Nigeria.

Your N100 by 100 people analogy is grossly misleading; Do you know how many Nigerians can ill afford that N100, which is why they will ignore 5+ atms in their locality and rather queue at their banks' atm. I daresay that on a queue of say 15 customers, only 3 on the average are other bank customers. Reevaluate your stats .

Your N100 cannot cover maintenance so don't even go there. The fee is for a middle man like you rightly pointed out- the bulk of the money goes to interswitch and banks get a token.

How do you know banks deploy tokunboh atms? Have you purchased any before? And since when are warranty seals displayed on the exterior of atm machines ANYWHERE in the world? The biggest challenge banks face in running atms is getting fit naira notes. How do you handle our currency? The naira is one of the most abused, germ infested , disease laden legal tender you will ever handle. Are banks supposed to mint new notes as well ? Good notes = fewer cash jams and optimum atm performance.
PS- the OS of the terminals have zilch to do with their OUTPUT.

The whole banking system in Nigeria inc CBN is a fraud is too lame a statement; please provide proof. How come you still maintain accounts with them when Bank of America is available to you?

The primary reason many banks have many branches is because nigerians insist on lugging cash around instead of e-channels. No bank makes profit from building brick n mortar branches. Why would anyone use an atm to withdraw his annual house rent, when he can effect an instant transfer?

You ask if money saved in an account yields any interest, how many times a day do you withdraw from the account? People use their savings account like danfo, then expect the bank to dash them interest @ month end. Please don't tell me you fall into the 80% of non profitable customers that complain and bicker endlessly....

In the end people will still complain when the charge is removed and the ATMS now start choosing card with bias to the host bank cards. Lets not rob Peter to pay Paul.

All said and done, when will their "immediately" be?
I was still subjected to d N100 fee yesterday when I used my GTB mastercard on FBN's ATM machine

dayohope1:
I am not surprised that the MD of First Bank championed it. By the time banks restrict their ATMs to their customers, the likes of First Bank, UBA, and Ecobank will gain more customers because of the number of branch network at the expense of the likes of Standard Chartered, Stanbic IBTC, Citibank, FCMB etc. It is simply a strategy but many do not know.

. Do I dare say u've veered off point.Wat u're saying has no basis in d topic watsoever.

ACM10: The bad side of this new policy is that no one can withdraw money from any ATM machine which is not owned by his parent bank. I tried to withdraw from Access bank, First Bank and Zenith bank with my GTB ATM card and was rejected. While people with the parent bank ATM card withdrew easily. I have to locate GTB ATM machine for me to withdraw. Even GTB denied withdrawal to people with other banks ATM card. This happened throughout this week in Enugu.

Its very possible interswitch was having issue at that time- issuer or switch inoperative.
I made withdrawal today from another bank ATM so ur experience was temporary.

For me, I can pay any amount to get effecient service, I don't know abt u.
An ATM cost abt N3M. The inverter and battery for back up cost from N1.2M and above depending on the number of hours or days of backup. For offsite atm, they pay between 240k to 800k for link.
Atm house with network points cost between N200k to N1m if its offsite and located in Lag.
Quaterly maintenance cost of ATM range between N200k to N300k, when some parts get damages, they get replaced. The cheapest part is 80k.
Banks are in business. They invest shareholders fund to make profit so as to pay dividends.
If ATM business becomes unprofitable, banks will stop deploying it, making services unavailable.

mercylicious:

Its very possible interswitch was having issue at that time- issuer or switch inoperative.
I made withdrawal today from another bank ATM so ur experience was temporary.

I don't know what you are trying to say. I could not withdraw this evening with my GTB ATM mastercard @ First Bank, Zenith Bank, Access Bank(All @ Okpara Avenue, Enugu). It's frustrating and annoying when you are denied or discriminated of basic financial services because you banks with another bank. This is analogous to introducing the discriminatory services of the telecommunication companies to banking system.

Fatdon: We don't have to be
happy with this news,because
one thing is so sure that once
they stop the ATM charges the
ATM machines will no longer be
effective as it used to be. The ATM situation will be worst than what we are experiencing
now. And the issue of Debiting
will increase. if they the banks
can make the ATM more
effective and maybe charge let's say N50 Fifty Naira per
transaction I think that is very
reasonable too. There is
nowhere ATM transaction is
free even in the developed
world. If we are happy that they stop the charges today
we will still come back to this
forum to cry for the
ineffectiveness of the ATM
machine in no time. I see this as
a Greek gift.

I understand the angle you are coming from. But do you think it's because of the N100 charges that the ATMs are working fine now? Definitely NO! How many Nigerians use banks other than theirs for ATM service? only on rare occurrence. A Naija person will walk miles just to get to his bank's ATM to avoid that N100. Note: the main reason our ATMs are working perfectly is because it is more advantageous for the banks when we use ATMs, they want to reduce counter service to the minimum for effective operations.