Vunderkind
Social Member
Bank account holders in Nigeria are extremely displeased with the new CBN directive that makes it so that there is a deduction of N65 per cash withdrawal on Automated Teller Machines.
The apex bank had on Wednesday announced that the policy would take effect from September 1, 2014.
Explaining why it is reintroducing the policy, CBN in a circular released on Wednesday noted that the fee will cover the remuneration of the switches, ATM monitoring and fit-notes processing by acquiring banks.
“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 hol
Click here to read more
Source: #DailyPost
The apex bank had on Wednesday announced that the policy would take effect from September 1, 2014.
Explaining why it is reintroducing the policy, CBN in a circular released on Wednesday noted that the fee will cover the remuneration of the switches, ATM monitoring and fit-notes processing by acquiring banks.
“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 hol
Click here to read more
Source: #DailyPost
