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Nairaland Forum / Nairaland / General / Business / CBN To Introduce Lower Denominations On Atms (21623 Views)
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 Mykcool(m): 8:48am On Dec 03, 2014 |
gideonedwards:all of them dey nairaland |
Re: CBN To Introduce Lower Denominations On Atms by bigass(f): 8:48am On Dec 03, 2014 |
countsparrow: So you talk as if ATMs that has ability to dispense 1000 500 and 200 would only dispense 200. besides Nobody charges you 65 if you use your banks ATM |
Re: CBN To Introduce Lower Denominations On Atms by OkikiOluwa1(m): 8:50am On Dec 03, 2014 |
The best thing to come from CBN this year. Atimes, I wonder where they v kept the good ideas & policy. 1 Like |
Re: CBN To Introduce Lower Denominations On Atms by philo3(m): 8:50am On Dec 03, 2014 |
i cant comment here... my dad (d cbn governor) might be reading this thread |
Re: CBN To Introduce Lower Denominations On Atms by fiverrwin(f): 8:51am On Dec 03, 2014 |
Make this work ohhh |
Re: CBN To Introduce Lower Denominations On Atms by Nelsman(m): 8:54am On Dec 03, 2014 |
smallJagaban:Dude, u've got a little mind. What has tribe got to do with issue of economy |
Re: CBN To Introduce Lower Denominations On Atms by QuiverBox(f): 8:55am On Dec 03, 2014 |
sweettease: Madam introducing lower denominations does not mean that higher denomination will not be placed in ATMs again, what is simply means is that you can now withdraw as low as a N100 from the ATM, if you are withdrawing 10k you will have a mix of all the denominations , with a higher percentage of the higher notes being dispensed 3 Likes |
Re: CBN To Introduce Lower Denominations On Atms by temitemi1(m): 8:56am On Dec 03, 2014 |
Nice steps mr governor!! |
Re: CBN To Introduce Lower Denominations On Atms by Elan83(m): 8:56am On Dec 03, 2014 |
shaggy007:God blss u, poverty no gud bro. |
Re: CBN To Introduce Lower Denominations On Atms by QuiverBox(f): 8:56am On Dec 03, 2014 |
QuiverBox: |
Re: CBN To Introduce Lower Denominations On Atms by KingAdeOluomo1(m): 8:57am On Dec 03, 2014 |
#65 out problem solve we want USe dis one do |
Re: CBN To Introduce Lower Denominations On Atms by Elan83(m): 8:58am On Dec 03, 2014 |
aanumama:No, its gonna b mixture of higher & lower denomnations, in dffrnt ATMs 1 Like |
Re: CBN To Introduce Lower Denominations On Atms by Remii(m): 8:58am On Dec 03, 2014 |
good idea especially for areas where people go to atm for N2k such as schools and rural areas, but how does that help cashless policy? will the N65 third party charge still apply? in that case its will amount to another revenue drive in disguise. |
Re: CBN To Introduce Lower Denominations On Atms by percyoats(m): 8:58am On Dec 03, 2014 |
I think this would also help address the issue of changes and all... Since most times the higher denominations are the most spent due to inadequate access to lower denominations. |
Re: CBN To Introduce Lower Denominations On Atms by An2elect2(f): 9:03am On Dec 03, 2014 |
femi4: Oh! okay. |
Re: CBN To Introduce Lower Denominations On Atms by sweettease(f): 9:03am On Dec 03, 2014 |
QuiverBox:That will work but I freaked out when I read from the article that the ATM will be reloaded more often and how they want to do it to discourage people from withdrawing huge amounts from the ATM, got me thinking if it's going to be a specific denomination in some ATMs thing or didn't you read that part? |
Re: CBN To Introduce Lower Denominations On Atms by Nobody: 9:05am On Dec 03, 2014 |
A welcomed development.As a matter of fact, all denominations should be included.I've to withdraw the #75 left in my Union Bank acct |
Re: CBN To Introduce Lower Denominations On Atms by QuiverBox(f): 9:07am On Dec 03, 2014 |
sweettease:. 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. |
Re: CBN To Introduce Lower Denominations On Atms by sweettease(f): 9:11am On Dec 03, 2014 |
QuiverBox:I guess you understand my worry now. |
Re: CBN To Introduce Lower Denominations On Atms by akoaki(m): 9:13am On Dec 03, 2014 |
Smaller denominations at atm should be the least concern of the cbn now. There are numerous issues currently bothering the minds of nigerians. Such issues are rising cost of living, falling living standards, unemployment, to mention just a few. |
Re: CBN To Introduce Lower Denominations On Atms by QuiverBox(f): 9:13am On Dec 03, 2014 |
sweettease: yep |
Re: CBN To Introduce Lower Denominations On Atms by onatisi(m): 9:24am On Dec 03, 2014 |
An2elect2:thanks for this contribution. It seems most people still don't understand how the 65naira rule works. |
Re: CBN To Introduce Lower Denominations On Atms by onyxo76(m): 9:27am On Dec 03, 2014 |
sweettease:well i see it this way, if you are withdrawing like 1000 or 2000 naira won't 200 naira notes be ideal? this issue of no change has really become something else, i can't even calculate how much i have as change being owed me now!! if you're making higher withdrawals then the higher notes will be ideal... i think its a good idea if well implemented. |
Re: CBN To Introduce Lower Denominations On Atms by watchindelta(m): 9:28am On Dec 03, 2014 |
rubbishhhh I need our coin n 5naira,10naira back, does money gat no single value. |
Re: CBN To Introduce Lower Denominations On Atms by countsparrow: 9:30am On Dec 03, 2014 |
bigass: 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 |
Re: CBN To Introduce Lower Denominations On Atms by shizzleStar: 9:34am On Dec 03, 2014 |
I dont like the idea, the least denomination one can withdraw should have been pegged at N500 |
Re: CBN To Introduce Lower Denominations On Atms by konjivity: 9:36am On Dec 03, 2014 |
I'm just imagining someone withdrawing N200 and being charged N65. The business no pay o. |
Re: CBN To Introduce Lower Denominations On Atms by Spydamannn(m): 9:37am On Dec 03, 2014 |
Coolito |
Re: CBN To Introduce Lower Denominations On Atms by An2elect2(f): 9:37am On Dec 03, 2014 |
onatisi: Ya. I grab now and others will do same in time. One kind NLDer has explained to me already. |
Re: CBN To Introduce Lower Denominations On Atms by khattab02: 9:37am On Dec 03, 2014 |
QuiverBox:korrect! Like your analogy. |
Re: CBN To Introduce Lower Denominations On Atms by goryorhal(m): 9:43am On Dec 03, 2014 |
wow !!! Upon hearing this vital news my friend go happy die ... Person wey like to go withdraw (500,700) go like this news ... |
Re: CBN To Introduce Lower Denominations On Atms by Howmon: 9:46am On Dec 03, 2014 |
Allow us to specify the denominations we desire. That's when the cashless thing makes sense. If na una go determine my denomination then you're fooling yourself. |
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