. The Bankers
Committee said yesterday that users of ATMs will no longer pay N100 on
withdrawals whenever they use banks other than theirs. The MD of First Bank,
Bisi Onsanya told journalists that the decision was in line with 'popular
trends' in other parts of the world.
“Presently when you
use the ATM of a bank other than your bank, there is a charge of N100 which is
borne by the account holder. We have decided that we will work out the
modality and ensure that with immediate effect we would pass on this cost to
the respective banks which bear the cost of providing services. No matter
where you are withdrawing your money from, you will not be subjected to any
charge for using the ATM. But for transaction on what we call “not on us”, when
you are an FBN customer and you use the ATM of a GTB bank, it is free and it
will no longer bear any cost.’’
The
free inter-bank ATM regime would become effective immediately after banks agree
on the modalities for the implementation of the new decision.
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