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CBN To Introduce Lower Denominations On Atms - Business (4) - Nairaland

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Banks Reduce Withdrawal Limits On Atms - Vanguard / How Many Will Be Able To Withdraw Money If Atms Did This (photo) / CBN Reintroduces N65 Charges On Cash Withdrawals On ‘other Banks’ Atms (2) (3) (4)

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Re: CBN To Introduce Lower Denominations On Atms by bigtt76(f): 10:06am On Dec 03, 2014
You de complain ....wait till they introduce coins dispensing. Nor forget say they never repeal that requirements for the banks to ensure part of every withdrawal is made in coins grin

sweettease:
Really? That's their best idea? undecided
This is just a bad idea on so many levels.
You can't withdraw certain amounts over the counter and now they want to torture us with smaller denominations... Imagine withdrawing just 10k when an ATM is dispensing N100 notes, not to talk of a higher withdrawal.

2 Likes

Re: CBN To Introduce Lower Denominations On Atms by Shaw007(m): 10:08am On Dec 03, 2014
Interesting, even the 500n sef, most atm's don't dispense, so this should be worse still... Anyhows, students will enjoy this
Re: CBN To Introduce Lower Denominations On Atms by eunisam: 10:12am On Dec 03, 2014
ATM should be programme in a way that you have the option to select the dinomination you want starting from N20,N50,N100,N200,N500 and N1000. At least 20,50 notes for weding things.
Re: CBN To Introduce Lower Denominations On Atms by BRAV0O(m): 10:23am On Dec 03, 2014
The 65naira atm charge make me to loose about 1k in 3-4 days a week, yes it encourage one to be using one bank but not all bank plant their atm machine around and the funny part is the same 65naira deduction for air time re charging via atm , no wahaala nau


I dey here sidown dey look



Shaybi dey say everyday is for the thief ni ?
Re: CBN To Introduce Lower Denominations On Atms by bigass(f): 10:27am On Dec 03, 2014
countsparrow:


Then wats d use putting a lower denomination if u can't withdraw less than 500 naira, it is senseless considering the amount it takes to print lesser denomination, and d space it takes in d machine...
What if my bank aint around my vicinity and I need to withdraw' Do I walk to wer my bank is

What if you need to deposit don't you walk down to your bank?
Re: CBN To Introduce Lower Denominations On Atms by gbodimowo(m): 10:28am On Dec 03, 2014
This will not stop atiku and moisture dim carrying 22million cash home from the bank
Re: CBN To Introduce Lower Denominations On Atms by Samgreguc(m): 10:29am On Dec 03, 2014
eleojo23:
The good side is that it will reduce this problem of 'no change' that has always arisen when one withdraws 1000 naira notes and intends to buy things that cost lower denominations.

Most times you will just have to buy something you don't need at the moment ( recharge card for instance) just to get change.
I was broke yesterday and needed to withdraw but, felt so reluctant to withdraw then because, the ATM I was close to pays in #1000s and having a #1000s most times is like having nothing.
Re: CBN To Introduce Lower Denominations On Atms by gbodimowo(m): 10:31am On Dec 03, 2014
eunisam:
ATM should be programme in a way that you have the option to select the dinomination you want starting from N20,N50,N100,N200,N500 and N1000. At least 20,50 notes for weding things.

Sorry mate can't do that the machines are loaded by cartridges each cartridge has only one denominations in it
Re: CBN To Introduce Lower Denominations On Atms by Samgreguc(m): 10:34am On Dec 03, 2014
countsparrow:
500 naira is okay, but anything less, is a waste of resources...

I collect #200 they charge me #65...

What of withdrawing #10,200 where the #200 serves your transport fair
Re: CBN To Introduce Lower Denominations On Atms by gbodimowo(m): 10:35am On Dec 03, 2014
philo3:
i cant comment here...
my dad (d cbn governor) might be reading this thread

If u can't then u are hypocritical in your ways of lide
Re: CBN To Introduce Lower Denominations On Atms by philo3(m): 10:37am On Dec 03, 2014
gbodimowo:


If u can't then u are hypocritical in your ways of lide
undecided undecided undecided
Re: CBN To Introduce Lower Denominations On Atms by gbodimowo(m): 10:41am On Dec 03, 2014
QuiverBox:
.

Well, Banks can decide to make some ATM denomination Specific , but just imagine a Specific ATM that dispenses only N100 Mint Note; in Nigeria we abuse everything some people will just go there and empty the whole ATM because of MINTS or 'Change" as we call it.

This can be remedied we reprogramme the machine to give maximum of 5k per day if u r in the platform of 5 withdrawals a day
Re: CBN To Introduce Lower Denominations On Atms by Samgreguc(m): 10:41am On Dec 03, 2014
gbodimowo:


Sorry mate can't do that the machines are loaded by cartridges each cartridge has only one denominations in it
Since the machine is loaded by cartridges and each cartridges contain on denomination; is the machine that dull that it can't select a certain amount to withdraw from a particular catridge and another amount from the other cartridge at same withdrawal?
Re: CBN To Introduce Lower Denominations On Atms by countsparrow: 10:43am On Dec 03, 2014
bigass:


What if you need to deposit don't you walk down to your bank?

We are talkin of withdrawals not deposits... So if I have an emergency now, let's say I misplaced my wallet, I need to walk 5kilometres to my bank to withdraw money cos of #65

1 Like

Re: CBN To Introduce Lower Denominations On Atms by bigass(f): 10:47am On Dec 03, 2014
countsparrow:


We are talkin of withdrawals not deposits... So if I have an emergency now, let's say I misplaced my wallet, I need to walk 5kilometres to my bank to withdraw money cos of #65

It cant be free because it costs money. You have a choice walk 5km to your bank ATM or pay 65
Re: CBN To Introduce Lower Denominations On Atms by dharn10(m): 10:52am On Dec 03, 2014
sweettease:
Really? That's their best idea? undecided
This is just a bad idea on so many levels.
You can't withdraw certain amounts over the counter and now they want to torture us with smaller denominations... Imagine withdrawing just 10k when an ATM is dispensing N100 notes, not to talk of a higher withdrawal.

Gues there should be a room to select denomination, else itz gonna be rubbish
Re: CBN To Introduce Lower Denominations On Atms by countsparrow: 10:54am On Dec 03, 2014
bigass:


It cant be free because it costs money. You have a choice walk 5km to your bank ATM or pay 65

I think we have lost the plot ere, we are digressing...
Re: CBN To Introduce Lower Denominations On Atms by eunisam: 10:56am On Dec 03, 2014
gbodimowo:


Sorry mate can't do that the machines are loaded by cartridges each cartridge has only one denominations in it
and so? How is that my fault?
Re: CBN To Introduce Lower Denominations On Atms by Nobody: 11:01am On Dec 03, 2014
sweettease:
Really? That's their best idea? undecided
This is just a bad idea on so many levels.
You can't withdraw certain amounts over the counter and now they want to torture us with smaller denominations... Imagine withdrawing just 10k when an ATM is dispensing N100 notes, not to talk of a higher withdrawal.

This is how it works! For example, if you are to withdraw 10,000.00. 5% would be N100/Note, 10% of N200/Note, 15% of N500/Note and 70% of N1000/Note, this was how it was done before, and this what I think CBN want to revert.

1 Like

Re: CBN To Introduce Lower Denominations On Atms by niggi4life(m): 11:05am On Dec 03, 2014
shaggy007:
Good development.

At least a niga can withdraw his last card.

E dey pain me when I have N1400 in my account, where N1000 belongs to the bank and N400 belongs to me but cannot be withdrawn.

That's so annoying.
As a MAN, its not good to withdraw or spend your LAST CARD.. mama used to tell me not to eat with all my ten fingers
Re: CBN To Introduce Lower Denominations On Atms by Nobody: 11:12am On Dec 03, 2014
I think it's really a good idea.. Considereing the fact that many people these days are complaining of this "change" wahala. So with the introduction of dis, I can easily withdraw 100 naira and pay a cab man. Than waiting on the road for over an hour because of taxi men complaining they don't have change cos I have 1000
Re: CBN To Introduce Lower Denominations On Atms by Ajalekoko76(m): 11:18am On Dec 03, 2014
More queue becos of #100. Driver,conductor, and passengers would Av to wait at ATM
Re: CBN To Introduce Lower Denominations On Atms by queebeediva(f): 1:03pm On Dec 03, 2014
It meaningless to me what we want is for our naira note to appreciate in value not further abusing of it. My question is , even when Atm make despences of lower domination like 5naira note what will it purchase ? And don't also forget the 65naira bill we pay for 3withrawer one makes. I hope the CBN governor wants to help nigerians? Hmmmm another challege ooo!
Re: CBN To Introduce Lower Denominations On Atms by Nobody: 2:02pm On Dec 03, 2014
var red = [0, 100, 63];
var orange = [40, 100, 60];
var green = [75, 100, 40];
var blue = [196, 77, 55];
var purple = [280, 50, 60];

var myName = "Kingsley";
letterColors = [red, orange, green]
if (10>3) {
bubbleShape = "circle";
}
else {
bubbleShape = "square";
}


drawName(myName, letterColors);
bounceBubbles()
Re: CBN To Introduce Lower Denominations On Atms by shaggy007(m): 2:04pm On Dec 03, 2014
niggi4life:
As a MAN, its not good to withdraw or spend your LAST CARD.. mama used to tell me not to eat with all my ten fingers

My brother, mama wants is not to spend our last card...on wants.

We are free to spend our last card...on needs.
Re: CBN To Introduce Lower Denominations On Atms by psalmuelwater(m): 2:14pm On Dec 03, 2014
Na rubbish be this, if u withdraw #200 and dem charge u #65 ao much ur money remain?
Re: CBN To Introduce Lower Denominations On Atms by sipicilia(f): 2:18pm On Dec 03, 2014
Opeeee o, nw I can withdraw evry last kobo in my acnt. grin
Re: CBN To Introduce Lower Denominations On Atms by KLand(m): 2:28pm On Dec 03, 2014
Lower bills in ATM? I don't want it.
Re: CBN To Introduce Lower Denominations On Atms by Nobody: 2:43pm On Dec 03, 2014
gideonedwards:
.FP things!!! shout out to my mom, dad uncles n Aunts .




brother n sisters





I see u




n I know u see me too. . . . cheesy cheesy

Ode
Re: CBN To Introduce Lower Denominations On Atms by gideonedwards(m): 2:49pm On Dec 03, 2014
Stelvin101:


Ode
you're such a fool.

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