30 results
- 1 Jul 2017
ATM Users Around the World Dislike ATM Fees - Survey
A global online poll conducted on the eve of the ATM's 50th anniversary has found that consumers in all countries expressed annoyance over ATM fees. It also found current priorities for ATM users…
- 23 Feb 2025
SERAP Drags CBN to Court over ATM Fee Hike
Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Central Bank of Nigeria (CBN) over the failure to reverse the increase in Automated Teller Machine (ATM)…
- 16 Feb 2025
SERAP Gives CBN 48-Hour Ultimatum to Withdraw ATM Fee Hike
Socio-Economic Rights and Accountability Project (SERAP) has called on the Central Bank of Nigeria (CBN) to immediately revoke its recent increase in Automated Teller Machine (ATM) transaction fees,…
- 11 Feb 2025
CBN Rolls out New ATM Transaction Fees Effective March 1
The Central Bank of Nigeria (CBN) has revealed new transaction fees for Automated Teller Machines (ATMs), set to take effect on March 1, 2025. A circular, signed by John Onojah, the acting director…
- 15 Apr 2015
ATM Fees on the Rise for Prepaid Debit Cards - Study
A new study of 31 prepaid debit cards from prominent issuers has found that, while fees for monthly service, activation and customer service calls have declined over the past year, fees involving the…
- 18 Oct 2018
Senate Orders Suspension of ATM Fee, Summons Emefiele
Central Bank of Nigeria (CBN) has been told to direct all Deposit Money Banks (DMBs) operating in the country to suspend the monthly N50 they charge their customers for the maintenance of Automated…
- 24 Apr 2026
ATM Card Fees Jump to ₦1,500 as CBN Scraps Maintenance Charges
Central Bank of Nigeria has increased the fee for the issuance or replacement of debit and credit cards from ₦1,000 to ₦1,500 as part of a revised framework governing bank charges. ATM Card In a…
- 6 Sept 2017
5 Interesting Ways to Cut Bank Charges When You Travel Abroad
Banking abroad is more than just using your card at an ATM or using Point of Sale. So, when you travel abroad and you want to perform any transaction, you must know how to avoid paying bank fees,…
- 16 Nov 2012
Diamond Bank Welcomes Removal of ATM Charges
Diamond Bank Plc has described the decision by the Bankers’ Committee to remove the N100 Automated Teller Machine (ATM) withdrawal fee as a welcome development that would further strengthen the…
- 23 Dec 2019
CBN Slashes ATM Withdrawal, eTransfer Charges, Warns Banks
Central Bank of Nigeria (CBN) has reviewed downward electronic transfer and ATM fees as well as card maintenance fees. Emefiele, CBN Gov The new charges were contained in the latest Guide to Charges…
- 3 Feb 2016
Life-Saving Tips for Travelling with ATM’s in Lagos
It’s no secret that Lagos is the actual heartbeat of Nigeria. Every tourist to the country prefers the city as it is the most developed in terms of technology and holds the best opportunities for…
- 21 Sept 2014
ATM Charge Will Boost Use of PoS - Ogungbade
Tunde Ogungbade, managing director and CEO, Global Accelerex Limited, a payment terminal service provider and a payment terminal application development company has about 19 years of global…
- 18 Mar 2013
Nigerian Banks and Killer Charges
The new N100 monthly maintenance fee on Automated Teller Machines (ATM) cards by some banks is a malevolent reflection of avarice of Nigeria’s financial institutions. Just like other charges, the…
- 2 Mar 2009
FCMB Deploys ATM for DStv Subscription Payment
DStv subscribers in Nigeria can now pay their subscription fees through FCMB’s automated teller machines (ATMs) across the country, as the bank has deployed a novel DStv bills payment solution.…
- 23 Mar 2016
Consumers Cry, Urge Regulators to Act
World Consumers’ Right Day has come and gone but the recently held consumer forum in Lagos offered an opportunity to discuss various issues which every consumer is daily confronted with while doing…
- 28 Aug 2018
Zenith Bank, 6 Others Rake in N244Bn in Fees, Commissions
Some 7 deposit money banks (DMBs) have reportedly raked in a total of N244.15 billion as fees and commission income in the first six months of this year. This is against the N208.38 billion…
- 14 Aug 2014
Bank Customers to Pay N65 for ATM Withdrawals
Central Bank of Nigeria (CBN) has directed deposit money banks in the country to re-introduce a charge of N65 per transaction on cash withdrawals made on other banks’ Automated Teller Machines (ATMs)…
- 12 May 2026
Fidelity Bank Hits N1trn Milestone as Earnings Surge 45%
Fidelity Bank Plc has reported a 45 percent increase in gross earnings for the 2025 financial year, as the lender’s shareholders’ funds crossed the N1 trillion mark following sustained balance sheet…
- 2 Jul 2012
UBA Slashes ATM Charges, Introduces Pay-as-You-Go
United Bank for Africa (UBA) has reduced the charges associated with ATM cards, significantly lowering the cost of transactions, particularly for its Verve Debit card customers in an unprecedented…
- 24 Nov 2025
Reps Decry Rising Fraudulent Activities Linked to POS
The House of Representatives has raised concern over a surge in fraud linked to Point-of-Sale (POS) operators nationwide. POS terminals are now a popular cash source for businesses and individuals…
- 6 May 2021
Banks’ Suffocating Charges on Customers
By Victoria Ngozi Ikeano SIR : It is no exaggeration to say that bank customers are about the most taxed group in Nigeria as they suffer not just double or treble taxation, but more than quadruple…
- 15 Nov 2016
Mastercard: 6 Tips to Avoid Blowing Your Budget this Holiday
Ahead of departing for your festive season break this year, don’t forget that planning your budget is just as important as planning what you will be packing. Mastercard shares a few tips on how to…
- 15 Aug 2016
History as SunTrust- Branchless Bank Opens Shop
SunTrust Bank will formally open for business today as it seeks to reshape the Nigerian banking space and the way consumers interface with their banks. SunTrust Bank will operate the branchless…
- 31 Aug 2014
Experts Welcome ATM Charges, Banks Deploy More Machine
Stakeholders in the e-payment space have commended the reintroduction of N65 inter-bank Automated Teller Machines (ATMs) charge while cautioning the Central Bank of Nigeria (CBN) against undue…
- 26 Aug 2014
7 Things You Need to Know About N65 ATM Charge
Divergent views greeted the recent re-introduction of a charge of N65 per transaction on remote-on-us Automated Teller Machines (ATMs) cash withdrawals by the Central Bank of Nigeria (CBN). In a…
- 20 Apr 2019
Helpful International Travel Tips for First-Time Travelers
By Adeniyi Ogunfowoke, You're excited, obviously because you're about to head off for your first international trip, and it's an amazing feeling. It's also a daunting feeling. How will you cope? How…
- 24 Oct 2025
Recapitalisation Reality Check: Uncovering the Truth Behind Nigeria’s Banking Boom
By Blaise Udunze When the Central Bank of Nigeria (CBN) announced a new round of bank recapitalisation in March 2024, many expected the leading banks, especially those boasting record-breaking…
- 27 Oct 2025
Erosion of Trust: How Hidden Charges, Downtime Are Bankrupting Confidence in Nigerian Banks
By Blaise Udunze In a society where trust is the lifeblood of finance, Nigeria’s banking sector seems to be bleeding credibility at an alarming rate. The relationship between banks and their…
- 17 Feb 2018
Concerns for Banks as WhatsApp Adds Payment
WhatsApp has introduced payments to its messaging app in India, making it the latest service to let users transfer money to one another with a text. After the pilot in India, this peer-to-peer…
- 28 Jan 2022
CBN Slashes Bank Charges
Central Bank of Nigeria (CBN) has announced a downward review of charges and rates on transactions across the banking ecosystem. This was contained in the CBN new ‘Guide to Charges by Banks Other…