Nigerian Banks have started charging N100 for ATM transactions on March 1.
This follows the Central Bank of Nigeria (CBN)’s directive for revised ATM transaction fees in a circular dated February 10, 2025.
Under the new fee structure, withdrawals from one’s bank ATMs will be free of charge.
Meanwhile, customers using ATMs of other banks will be subjected to a charge of N100 per withdrawal of N20,000 or less at on-site ATMs that are located within or directly affiliated with a bank branch.
Off-site ATMs, which are located outside bank premises such as shopping malls, fuel stations, and other public spaces, will attract an additional surcharge of up to N500 per transaction.
For international ATM withdrawals, charges will be based on cost recovery. This means that customers will bear the exact fee applied by the international acquirer.
The apex bank also clarified that Nigerians withdrawing less than N20,000 from another bank’s ATM will still be charged N100 per transaction.
