₦airaland Forum

"On-site ATMs: A charge of N100 per N20,000 withdrawal.

Off-site ATMs: A charge of A100 plus a surcharge of not more than N500 per N20,000 withdrawal.

On-Us (customer withdrawing at the ATM of the customer's financial institution) in Nigeria: No charge"

What this actually mean is that u will make loss if you have multiple ATM cards from Uba, GTB, fidelity, Access etc.

So POS people who can withdraw with 7 ATM cards in same ATM machine are the most affected and not the customers cos u won't compete with others that has on-us banking

It's a good development cos we will start seeing money in ATM machines

More explanation

Oga, I run POS services as my side hustle, I have never for one day gotten cash from the bank (ATM or not)..

Also, most people prefer to use POS terminal to withdraw cash rather than ATM terminals. Because it is faster and also readily available at every corner of the country..

It is still the consumer that this new policy will affect the most.

In fact, if this new policy is binding to ONLY ATM terminals, then almost everyone will abandon ATM for POS.

Policies upon policies; zero implementation

I no even understand the explanation. As much as I find ATMs more convenient due to the N30 charge for withdrawal and N50 for transfer, the machines are always empty. POS operators don chop my money. I’ve resigned now to whichever machine has money to dispense — POS or ATM.

ImmaculateJOE:


Oga, I run POS services as my side hustle, I have never for one day gotten cash from the bank (ATM or not)..

Also, most people prefer to use POS terminal to withdraw cash rather than ATM terminals. Because it is faster and also readily available at every corner of the country..

It is still the consumer that this new policy will affect the most.

In fact, if this new policy is binding to ONLY ATM terminals, then almost everyone will abandon ATM for POS.

How does the POS business work? How do operators get money? How much profit do they make on average daily? Who are their bosses?

Hello
Pls what biz can I do with a korope bus,
I don't want to become a Lagos commercial bus driver,
Any ideas will be appropriately appreciated

ImmaculateJOE:


Oga, I run POS services as my side hustle, I have never for one day gotten cash from the bank (ATM or not)..

Also, most people prefer to use POS terminal to withdraw cash rather than ATM terminals. Because it is faster and also readily available at every corner of the country..

It is still the consumer that this new policy will affect the most.

In fact, if this new policy is binding to ONLY ATM terminals, then almost everyone will abandon ATM for POS.

people do not prefer POS, the problem is that POS people no deh allow money to rest for ATM