holluwai: This man has just said nothing but nonsense!!! I don't get any explaination from this.

redcap:


Pls you read again and show me if there is any mention of day or month.

ajaerochyms: if u dont get any thing out of wat he said,is jst becos u are daft no brain in that ur skull

Anacksunamun: Then who allowed you to access NL? You need a new brain!!

femcruz:
no you don't, case close closed!

holluwai: This man has just said nothing but nonsense!!! I don't get any explaination from this.

KingAdeOluomo1: What Eva

lat4real: CBN is still saying the same thing but with better explanation this time. You can withdraw thrice in a day without being charged, but your subsequent withdrawal will attract N65 charges.

Decryptor:

Corrected. Now whose english is shitty?

Onwe101: LAGOS—The Central Bank of Nigeria, CBN, yesterday said it has not
reintroduced charges on the use of Automated Teller Machines, ATMs as
being speculated.
The Director, Banking & Payments System Department of CBN, Mr. Dipo
Fatokun, who explained this to Vanguard after his remarks at the
meeting held by Nigeria Electronic Fraud Forum in Lagos, said: “It is
not a reintroduction per se . You have to agree with me that when the
amendment was made in November 2012, it used to be a N100 for any
remote-on-us withdrawal that you did. And you know that the remote-
on-us is when you as a card holder goes to the ATM of a bank other
than your bank to withdraw cash. It was removed then so that people
would be encouraged to go to other ATMs without paying for it.
But the truth is that as we said in the circular on the Introduction of
Fees on Remote-On-Us ATM Withdrawal Transactions recently, that
N100 included the N35 that goes to the issuing bank, which has now
been completely waived. The issuing bank does not make any thing, but
in going to other ATMs to make withdrawal , your bank, that is, the
acquirer bank incurs cost of N65 which they pay to the switches and the
owner of the ATM that you are using.
Continuing, he said: ”Between 2012 and recently when the review was
done, it was discovered that people have actually turned ATMs into their
personal purses because nothing is charged. Somebody needs N500, or
N1000, he will go to ATM and withdraw, he needs N2000, he will go to
ATM and withdraw, so that in a day some people can patronise ATM
for up to four or ten times. That has created a huge cost burden for the
banks that issue the cards. It was becoming discouraging to them.
“So that is why we said, you can go to an ATM other than your bank
ATM to withdraw up to three times and no charges would be imposed
on you, but it is when you make the fourth withdrawal that you will
pay the N65 that ordinarily your bank would have paid on your behalf.
But of course if you go to your bank’s ATM, the issuer, for withdrawal
you can withdraw as many times as you like without being charged. So,
it does not discourage financial inclusion. You should bear in mind that
when you talk of cashless regime, you are encouraging people to do
their transactions electronically other than the use of cash. So it is a
motivation for people to patromise the ATM. “ source http:// http://www.vanguardngr.com/2014/08/weve-reintroduced-atm-charges-cbn/#sthash.vMZRrOVF.dpuf

Onwe101: LAGOS—The Central Bank of Nigeria, CBN, yesterday said it has not
reintroduced charges on the use of Automated Teller Machines, ATMs as
being speculated.
The Director, Banking & Payments System Department of CBN, Mr. Dipo
Fatokun, who explained this to Vanguard after his remarks at the
meeting held by Nigeria Electronic Fraud Forum in Lagos, said: “It is
not a reintroduction per se . You have to agree with me that when the
amendment was made in November 2012, it used to be a N100 for any
remote-on-us withdrawal that you did. And you know that the remote-
on-us is when you as a card holder goes to the ATM of a bank other
than your bank to withdraw cash. It was removed then so that people
would be encouraged to go to other ATMs without paying for it.
But the truth is that as we said in the circular on the Introduction of
Fees on Remote-On-Us ATM Withdrawal Transactions recently, that
N100 included the N35 that goes to the issuing bank, which has now
been completely waived. The issuing bank does not make any thing, but
in going to other ATMs to make withdrawal , your bank, that is, the
acquirer bank incurs cost of N65 which they pay to the switches and the
owner of the ATM that you are using.
Continuing, he said: ”Between 2012 and recently when the review was
done, it was discovered that people have actually turned ATMs into their
personal purses because nothing is charged. Somebody needs N500, or
N1000, he will go to ATM and withdraw, he needs N2000, he will go to
ATM and withdraw, so that in a day some people can patronise ATM
for up to four or ten times. That has created a huge cost burden for the
banks that issue the cards. It was becoming discouraging to them.
“So that is why we said, you can go to an ATM other than your bank
ATM to withdraw up to three times and no charges would be imposed
on you, but it is when you make the fourth withdrawal that you will
pay the N65 that ordinarily your bank would have paid on your behalf.
But of course if you go to your bank’s ATM, the issuer, for withdrawal
you can withdraw as many times as you like without being charged. So,
it does not discourage financial inclusion. You should bear in mind that
when you talk of cashless regime, you are encouraging people to do
their transactions electronically other than the use of cash. So it is a
motivation for people to patromise the ATM. “ source http:// http://www.vanguardngr.com/2014/08/weve-reintroduced-atm-charges-cbn/#sthash.vMZRrOVF.dpuf

sharks776: Let me remind you that it is not just going to the
ATM once in a day that matters or they are
talking about, but how many withdrawals you make.
for instance, assuming you organize yourself
properly like you said and decided that you need
N100,000. Tell me is there any ATM machine that
will allow you to withdraw N100,000 at once? the
answer is NO, you will need to make at least 5
withdrawals (on average) which counts or translate
to using the ATM FIVE TIMES ( a limitation on how
many withdrawal we can make) so why say people
make multiple withdrawal when u don't allow them
to withdraw N100,000 at once. greed at its peek!

lat4real: CBN is still saying the same thing but with better explanation this time. You can withdraw thrice in a day without being charged, but your subsequent withdrawals will attract N65 charges.

tete7000:

I don't think the limit is per day but 'per month'.

it was discovered that people have actually turned ATMs into their
personal purses because nothing is charged. Somebody needs N500, or
N1000, he will go to ATM and withdraw, he needs N2000, he will go to
ATM and withdraw, so that in a day some people can patronise ATM
for up to four or ten times.

Youngzedd:

This made me

Eyop:
You are also not sure and it was never stated that it's per month.

tete7000:
What was earlier published seems to mention 'per month'

@ bolded: Probabilistic statement. You are still not sure

Eyop:
@ bolded: Probabilistic statement. You are still not sure

“The new charge shall apply as from the fourth remote-on-us withdrawal (in a month) by a card holder, thereby making the first three remote-on-us transactions free for card holders, but to be paid for by the issuing bank.”

tosinhtml:

LOL !!! Am sure you patronize those old Banks...Like W*M* , UN*I*N B*Nk where no one is in the banking hall when you want to receive money, else you would know its not comfortable walking into a bank waiting in a long list of line just for 60k

Ahmeduana:
CONFIRMED "EWU"

kunmis1:

poor man mentality

u for kuku dey live with the machine.

wen u start ya own biz u go no how va


quoted d whole post cos of wateva

high level mumuness

pwajul: . Chairman must u qoute d whole news. Jus coment ad pass. Pls tak note next tym.