2 Weeks after Directive, Some Banks are Still Charging N100 for ATM Card Use. Are You Still being Charged?

It will be recalled that about two weeks ago, banks operating in the country were ordered to stop the N100 charges for the use of other banks’ ATM cards their ATMs. Surprisingly, as of now, some banks in the country have not deemed it fit to abide by the order.

This is despite the fact that the Nigeria Deposit Insurance Corporation (NDIC) and the Central Bank of Nigeria (CBN) have indicated their resolve to monitor compliance. According to the Sun, some bank workers, who spoke to Daily Sun, said the process of adjusting the machines to reflect the new order may take some time.

Meanwhile, bank customers, who received the cheery news scrapping inter-bank ATM charges two weeks ago, found it hard to believe that banks were not to comply with the new directive, after it was unanimously agreed by their directors.

So, when next you visit an ATM other than that of your bank to withdraw money, do not be surprised when the machine tells you that: “Be informed that N100 charges apply for these transactions.”