Banks to stop N100 ATM charge

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Users of Automated Teller Machines will no longer pay N100 on withdrawals whenever they use banks other than theirs, the Central Bank of Nigeria said on Tuesday.

The decision was taken at the end of a meeting in Abuja between the CBN and the Bankers Committee. Managing directors of some banks also attended the meeting.

The Group Managing Director, First Bank Plc, Mr. Bisi Onasanya, told newsmen that the charge as well as
others associated with the use of ATMs would be scrapped soon.
He said it was meant to encourage the use of ATMs. Onasanya said the decision would help to increase the patronage of ATMs, thus deepening the financial inclusion strategy of the apex bank.
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