December 23, 2019
By Paschal IJEH InvestAdvocate
Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) on Sunday released a revised guide to bank charges on electronic banking transactions and other charges.
This is contained in the latest Guide to Charges by Banks and Other Financial Institutions just released by the CBN.
The CBN says the new charges show that electronic transfer below N5,000 by customers will attract a fee of N10., while for electronic transfers between N5,000 and N50,000 will attract a fee of N25.
Charges where slashed for cash withdrawal via Other bank’s ATM to “maximum of N35 after the third withdrawal within the same month” from “N65 after the third withdrawal within the same month”.
Also. the CBN removed Card Maintenance Fee (CAMF) on all cards linked to current accounts, a maximum of one Naira per mille for customer induced debit transactions to third parties and transfers or lodgments to the customers’ account in other banks on current accounts only.
