LeJeun3:

No more ATM for me jare.....

tete7000:



The quoted is from the earlier publication. Check the bolded for clarification.

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

Chuksprince: Nice explanation given... This is stop abuse of ATM use I believe.. You can withdraw from any bank without charge but it shouldn't exceed 3 times for that day.. Or you will be charged. #65..but you are free to use your bank ATM and withdraw from your bank for as many time as possible. Without charge

onatisi: but wait ooo,tthere is a funny tangle here. Eg, the 3 free times is it on any other bank atm or on a particular bank? What I mean is supposing I have a uba card and I use it 3 times on firstt bank atm , can I use it another 3 free times on gtb atm ,or does the law cuts across all the banks at once

Eyop:
If you use your UBA card 3 times on First Bank ATM,you have exhausted your limit for the month. Another usage on GTB ATM will attract the #65 charge except you stick to your UBA for the rest of the month.

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

Eyop:
Ok now a realistic statement

tk4rd: And I keep asking.. Would the banks now stop destroying ATMs of other banks that got trapped in their machines.??

stexsy: are you that dull?

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

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

onatisi: don't worry , they won't miss ur 65 naira

True...

Harzan: All na still trash!
I was a player in the payment industry, infact, a Switch + proccessing company.

I jst know dey gonna bring back this charges because d players+ banks have bn crying foul since 2012 it was removed.
For all U saying itood move, I bet u don't know wat u are talking abt¤ yeah, to d banks, its awesome, buh to masses like u n I, its officail extortion.
Come to think of it, U ar their customer n u pay ur charges. This bank use ur savings and yet they dont wanna pay anytin, asin, any kobo for the services rendered to dem by oda service provider or banks.? Buh, now we av to pay for collecting our money, pay d acquirer, swith n terminal owner... Like seriously, are dey giving me commission wen making d deposit! Well, no wahala, cbn shud kontunu... Buh emefiele shud know diariz God in anytin he's doin.. Dancing to tune of the cabals, kontunu!
1st tree withdrawal is free, dey are sick in d head... Knowing fully well ATMs dispense 20K @ a go.. So, 4 100K now, will b charged twice + all oda trail thru dat month! D banks dat can pay for d 1st three, cannot pay.... *AngryWithSteam*
God bless Nigeria!

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

CBN: 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.

onatisi: you can keep ur money in ur house and not use the bank atm . I don't think there is any law mandating ppl to use the atm by force

Harzan:

Smh 4 nigerians like u!

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.

unmask: where did the three times a month come in?

onatisi: you can keep ur money in ur house and not use the bank atm . I don't think there is any law mandating ppl to use the atm by force

onatisi: how many atm cards of urs has been destroyed ?