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Nairaland Forum / Nairaland / General / Politics / CBN Cancels N100 Monthly ATM Maintenance Fee... (19636 Views)
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CBN Cancels N100 Monthly ATM Maintenance Fee... by Jerryjat(m): 3:09pm On Mar 29, 2013 |
The Central Bank of Nigeria on Thursday announced the cancellation of the N100 monthly Automatic Teller Machine card maintenance fee introduced by some banks recently and which generated public condemnation. The CBN in a circular titled, ‘Revised guide to bank charges,’ posted on its website, however, pegged the maintenance fee at N100 annually. Also affected is the mandatory cost of Short Message Service alert which has been pegged at N4 subject to the Nigerian Communication Commission’s directives. The circular, which takes effect from April 1, read, “In order to reflect current developments in the market and provide clarity on banking terms, the CBN recently conducted a review of the guide in consultation with all the banks and discount houses, Bankers’ Committee, financial experts and also considered inputs received from other stakeholders to produce the revised guide to bank charges.” On electronic transfer, the bank said N70 would be charged on transactions below N500,000 while N100 should be charged on transactions between N500,000 and N1m. Transactions above N1m will attract a charge of N500. It said issuing fee of a debit card should exceed N1,000, while international withdrawals per transaction on debit cards should be charged at N240 rather than N1,000 being currently charged by almost all the banks. The CBN pegged the interest on savings deposit accounts at a minimum of 30 per cent of the Monetary Policy Rate per annum. It would be recalled that following the Bankers’ Committee meeting in November 2012 which scrapped the N100 interbank charge on the use of ATM cards, some banks went ahead to introduce the N100 monthly maintenance fee on ATM cards... http://www.informationng.com/2013/03/cbn-bows-to-public-outcry-cancels-n100-monthly-atm-maintenance-fee.html 9 Likes
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Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by Pizzanatty(m): 3:19pm On Mar 29, 2013 |
Good one... Bt Op,nah lamido picture attached 2 ATM b ur source of dis info? 3 Likes |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by Nobody: 3:46pm On Mar 29, 2013 |
They shld jst scrap it 1 Like |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by Nobody: 4:42pm On Mar 29, 2013 |
And firstbank debited me for Verve Card charges last night? Damn! 15 Likes |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by Nobody: 4:58pm On Mar 29, 2013 |
First bank should give me back my money o! c how dey don clear throat,sidon calculate how much dey will be makin from us every month. God don catch dem.dey should better return my 100 naira o! 8 Likes |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by sammyyoung2(m): 5:02pm On Mar 29, 2013 |
halleluyah |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by jude33084(m): 5:04pm On Mar 29, 2013 |
Pizzanatty: Good one... I hope you can see very well @the topic: Unionbank debited ♍e on thurs They must refund that N100 1 Like |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by koolguy88(m): 5:06pm On Mar 29, 2013 |
this is a welcome development. welldone to the CBN governor 4 Likes |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by mactoni91(m): 5:06pm On Mar 29, 2013 |
ECOBANK debited me 200naira lastweek... They say for POS... GOD knws i neva used their POS |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by aieromon(m): 5:06pm On Mar 29, 2013 |
Implementation! Implementation!! Implementation!!! |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by pendusky(m): 5:06pm On Mar 29, 2013 |
Still waiting for ATM wey go comot Coins, wey sanusi bin want introduce kwa.. 1 Like |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by Nobody: 5:07pm On Mar 29, 2013 |
Sanusi always kills it. . . You know, when he stopped the regular N100 ATM charge, i was thinking it would affect lotsa jobs. Now I realize these banks make a lot of money with very poor services. . . Good one! 1 Like |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by pekelepekele(m): 5:07pm On Mar 29, 2013 |
Well that is just too bad of CBN . I don't own a bank or either a bank staff but one thing I have noticed is that since they canceled the N100 charge on different bank cards on a particular ATM machine the banks are no longer loading all their ATMS and ATM machines are becoming much more non reliable . They should just reduce the price to N50 because the banks won't carry out their proper duties in any area they are not earning from. 6 Likes |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by koolguy88(m): 5:07pm On Mar 29, 2013 |
@jude, they said with effect from april 1,2013, ode! 2 Likes |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by 80million1: 5:08pm On Mar 29, 2013 |
Hope users won't start complaining when ATM Service Delivery drops too? Because according to the post,it is called MAINTAINANCE FEE! 1 Like |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by Emyogalanya: 5:08pm On Mar 29, 2013 |
Did i just make front page i said it this easter will be great for me *dashes out to buy cow to celebrate front page * 3 Likes |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by Nobody: 5:08pm On Mar 29, 2013 |
dy wil stil com up wit anoda strategy. Dz institutions n companies luv xploitation. Dey neva consida d interest of d poor who dey say dey serve. Gud one 4rm cbn 1 Like |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by rcb34: 5:08pm On Mar 29, 2013 |
Gud to knw |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by clockpause(m): 5:08pm On Mar 29, 2013 |
wat of me wey no get money in d bank? |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by bright007(f): 5:09pm On Mar 29, 2013 |
Oya 10 Likes |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by coldgate(f): 5:10pm On Mar 29, 2013 |
Very well! One of the laudable policies of SLS. 1 Like |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by Nobody: 5:10pm On Mar 29, 2013 |
Emyogalanya: Did i just make front page i said it this easter will be great for me *dashes out to buy cow to celebrate front page * I don catch you today. So you have two accounts abi? |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by Nobody: 5:10pm On Mar 29, 2013 |
Emyogalanya: Did i just make front page i said it this easter will be great for me *dashes out to buy cow to celebrate front page *bush boy |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by Sicozone(m): 5:10pm On Mar 29, 2013 |
Ope oooo....at least dat #100 go recharge my fone every month....#dancing galala |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by Nobody: 5:11pm On Mar 29, 2013 |
na all of u na get ATM card 1 Like |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by Nobody: 5:11pm On Mar 29, 2013 |
#80million: What are they maintaining |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by SporoX: 5:11pm On Mar 29, 2013 |
Imagine using 2 banks.....or even more, how much dem go dey chop for our head. Nice one, IF TRUE |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by Pizzanatty(m): 5:12pm On Mar 29, 2013 |
jude33084:it was just modified 2 include d source...cant u see i was first 2 comment and by that d OP modified it b4 u start sayn trash? |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by Nobody: 5:12pm On Mar 29, 2013 |
Please does our politians use ATM? I m very sure the answer is NO.. cos they spend big.... My friend once told me that his dad never touched the following denomination , 5naira,10 naira, 50 naira, 20 naira, ... he's father thinks they re meant for the poor... By the way , he's dad is a politician.. I personally don't like seeing such notes in my wallet...wetin man go do.. they re useful sometimes oh... 5 naira for sachet water.... |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by ademega(m): 5:14pm On Mar 29, 2013 |
gud president in embrayo.... |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by Nobody: 5:14pm On Mar 29, 2013 |
Ah... ah... these Banks are just becoming something else. Uncontrollably greedy. They just make arbitrary charges without giving a damn on the economy of their customers. thank God Nigerian government is beginning to rise up to our defense. That's a good one. I hope they keep it up! |
Re: CBN Cancels N100 Monthly ATM Maintenance Fee... by blessed4ril(f): 5:17pm On Mar 29, 2013 |
Imanuelle: And firstbank debited me for Verve Card charges last night?me2,plus additional 90 naira they deducted jus now which they called alert fee! This ppl r nt smilin! |
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