Business A.M
No Result
View All Result
Tuesday, March 31, 2026
  • Login
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
Subscribe
Business A.M
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
No Result
View All Result
Business A.M
No Result
View All Result
Home Banking

Customers lament banks’ non-compliance with CBN’s guidelines on ATM charges

by Admin
July 29, 2025
in Banking, Finance, Frontpage

Customers lament banks' non-compliance with CBN’s guidelines on ATM charges

Some bank customers have frowned at their banks for not complying with the new guidelines for charges on automated teller machine, released by the Central Bank of Nigeria.

Some of the customers who spoke in Abuja, regretted that banks had now devised a means of deducting ATM charges without sending the alert to their customers.

CBN had on Dec. 22, 2019, released new guidelines for banks, other financial and non-bank financial institutions, to take effect from Jan 1.

The guidelines involved reduction in the amount payable for cash withdrawals from other banks’ ATMs as Remote-on-Us transactions.

The reduction is from N65 to N35 after the third withdrawal within one month.

Tony Iruu, a customer with one of the old generation banks, told NAN on Thursday, that the bank had refused to adhere to the CBN guidelines.

Iruu appealed to the apex bank to take decisive action against any bank that was found wanting.

“When I heard about the new CBN guidelines, I was impressed because my bank charges me for virtually everything I do, but I have noticed that most times, banks do not adhere to some guidelines, except the ones that favour them,’’ he said.

Joy Akpakuma, a customer with one of the new generation banks said that though her bank did not send a debit alert for the ATM charge, it had, however, reflected in her account.

“I withdrew money from an ATM that is not my bank on Jan. 1, but they only sent me alert of the money I withdrew without the charges.

“I was happy thinking that they have complied with the guidelines, but

when I checked my balance, I knew that there was something wrong.“I had about N194, 000 in my account, I withdrew N5, 000 but I did the withdrawal three times to see if they will remove N35 at the third withdrawal.

“When the alert came, my money was remaining N188, 263. It means that the bank charged me about N800 for the transaction.”

Admin
Admin
Previous Post

NLNG pays $7bn tax, $15bn dividend to FG

Next Post

Aliko Dangote became $4.3bn richer in 2019 – Bloomberg

Next Post

Aliko Dangote became $4.3bn richer in 2019 – Bloomberg

  • Trending
  • Comments
  • Latest
Igbobi alumni raise over N1bn in one week as private capital fills education gap

Igbobi alumni raise over N1bn in one week as private capital fills education gap

February 11, 2026

CBN to issue N1.5bn loan for youth led agric expansion in Plateau

July 29, 2025

How UNESCO got it wrong in Africa

May 30, 2017

Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

November 20, 2017

6 MLB teams that could use upgrades at the trade deadline

Top NFL Draft picks react to their Madden NFL 16 ratings

Paul Pierce said there was ‘no way’ he could play for Lakers

Arian Foster agrees to buy books for a fan after he asked on Twitter

Crash-test scores vs. real life: The surprising truth about family cars

Crash-test scores vs. real life: The surprising truth about family cars

March 31, 2026
Africa banking revenues hit $107bn, outpacing global peers despite FX pressures

Africa banking revenues hit $107bn, outpacing global peers despite FX pressures

March 31, 2026
AFC propels Africa’s GDP by $50bn, creates 7m jobs through scalable infrastructure model

AFC Summit to unlock domestic capital for Africa’s industrial drive

March 31, 2026
The souls of our ancestors will now rest in peace!

The souls of our ancestors will now rest in peace!

March 31, 2026

Popular News

  • Igbobi alumni raise over N1bn in one week as private capital fills education gap

    Igbobi alumni raise over N1bn in one week as private capital fills education gap

    0 shares
    Share 0 Tweet 0
  • CBN to issue N1.5bn loan for youth led agric expansion in Plateau

    0 shares
    Share 0 Tweet 0
  • How UNESCO got it wrong in Africa

    0 shares
    Share 0 Tweet 0
  • Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

    0 shares
    Share 0 Tweet 0
  • Insurance-fuelled rally pushes NGX to record high

    0 shares
    Share 0 Tweet 0
Currently Playing

CNN on Nigeria Aviation

CNN on Nigeria Aviation

Business AM TV

Edeme Kelikume Interview With Business AM TV

Business AM TV

Business A M 2021 Mutual Funds Outlook And Award Promo Video

Business AM TV

Recent News

Crash-test scores vs. real life: The surprising truth about family cars

Crash-test scores vs. real life: The surprising truth about family cars

March 31, 2026
Africa banking revenues hit $107bn, outpacing global peers despite FX pressures

Africa banking revenues hit $107bn, outpacing global peers despite FX pressures

March 31, 2026

Categories

  • Frontpage
  • Analyst Insight
  • Business AM TV
  • Comments
  • Commodities
  • Finance
  • Markets
  • Technology
  • The Business Traveller & Hospitality
  • World Business & Economy

Site Navigation

  • Home
  • About Us
  • Contact Us
  • Privacy & Policy
Business A.M

BusinessAMLive (businessamlive.com) is a leading online business news and information platform focused on providing timely, insightful and comprehensive coverage of economic, financial, and business developments in Nigeria, Africa and around the world.

© 2026 Business A.M

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us

© 2026 Business A.M