Banks have commenced the implementation of the new Automated Teller Machine (ATM) transaction fee charge on customers following the Central Bank of Nigeria, CBN’s directive.
A NAN correspondent who monitored some banks’ ATM galleries in Abuja and its environs on Sunday reports that some customers were lamenting about the increase.
It was observed that all the banks’ ATMs visited had money loaded in them.
Mr Luke Abudu, a customer seen at First Bank along Nyanya-Jikwoyi Road, said the implementation would only affect the poor masses who were struggling to make a living.
Abudu said the move would discourage customers from lodging money in banks.
“I came to withdraw N20,000 but found out that I was charged N100 for the withdrawal.
“This is too much for a small business owner like me,” he said.
Another customer, Mrs. Victoria Adejo, seen at Zenith Bank, Mararaba branch, said that withdrawing from a Point of Sale, PoS, agent was now cheaper than using an ATM.
“It is unfortunate that our government formulates policies without feeling the pulse of the people.
“I read that the CBN said the decision is in response to rising costs and to improve the efficiency of ATM services, but banks still bill us for service charges.
“They (banks) declare profits in billions and trillions from our money, and the CBN does not consider that.
“This is not good enough at all,” she said.
Mr Nurudeen Ehimotor, a customer at Guaranty Trust Bank, GTB, Asokoro, said he was at the bank to use the ATM due to the bank’s poor online network.
“I came to use the ATM because I tried to transfer money from my bank using USSD since yesterday, but it didn’t go through.
“I have an issue with my app, so I have been using USSD codes for my transfers.
“I think they (the banks) are trying to make people use ATMs now for them to make more money,” he said.
Ehimotor appealed to banks to reduce incessant charges on customers’ accounts.
NAN reports that the CBN had, on February 10, released a circular to all banks and other financial institutions to apply the fees with effect from March 1.
The CBN, in the circular titled “Review of ATM Transaction Fees,” said the move was in response to rising costs and the need to improve the efficiency of ATM services in the banking industry.