Encomium
The Central Bank of Nigeria (CBN) is receiving knocks from bank customers for the reintroduction of ATM Service fee of N65 (if you withdraw from other ATM aside their bank’s). Denouncing the policy as another form of exploitation after some other Cost of Transactions (COTs), they urged the CBN governor to revert to the no- service charge regime.
‘IT’S NO BIG DEAL’
– Emeka Umejei
I don’t really see any problem with that since you only pay the service charge when go to other banks after a number of transactions per month. But CBN should check other banks’ hidden transaction fees (COTs).
‘THAT’S REALLY UNFAIR’
– Venerable Enyioma Nwosu
I don’t support it at all. Very soon, some of us will stop patronizing banks who charge for use of ATMs. Nothing is free in this country.
‘CHARGE IS AN EXTORTION’
– Isaac Oguntayo
To start with, I’m not against bank charges but the ATM N65 charges is an extortion because banks have been surviving since Sanusi stopped this charge. Now, Sanusi left and everything he’s achieved is beginning to crumble.
This current CBN Governor needs to wake up from his slumber as banks have other charges like SMS charges, Tariff on international trade, transfer charges, bank draft and others that need to be reviewed rather than disturbing the free access of ATM.
‘I THINK THERE SHOULD BE A DRASTIC REDUCTION IN THE CHARGE TO N10…’
– Muhammad Gabadeen, 100L Elect/Elect. UNILAG
Change is always said to be constant. However, when it comes with a sense of inconvenience and utmost exploitation, you get the feeling that it’ll be hard for people to adjust to such a change. This is the case of the N65 ATM charge upon using other bank’s ATM machine.
I also feel the change is ill-timed in the sense that the new CBN chief has hardly settled on the new job, only for us to wake-up to the reality that we’ll pay ATM charge when using other ATM. I think there should be a drastic reduction in the charge to N10 if at all it won’t be scrapped totally, and there should be an account of charges generated and what and how it’ll be used.
‘IT’S VERY UNREASONABLE’
– Omotola Okeowo
It’s very unreasonable. It’s not even N5 on every transaction. How about if someone decides to make use of the ATM about five times in a day? That’s about N325 and the person use the ATM daily I will say the charge is a rip off.
These days, everyone is being advised to get an ATM because of the cashless policy but it looks like another way of stealing from people. If it can be N65 per month or N100 per month, I’m sure no one will complain.
‘IT’S JUST UNREASONABLE’
– Fimihan Adebiyi
Basically, I feel it’s just an unreasonable way to extort the general public. Asides the usual bank charges for transactions and all, paying the service fee every time one uses the ATM is unfair and should be revisited we are paying for services that don’t exist.
Using the ATM in your country should be free, it’s a service provided by the banks and they should figure out another way to cover up the cost of maintenance rather than charging people for a service that is supposed to be free.
It’s just like walking to the cashier to deposit money into your bank account and the cashier charging you for the service. It’s just unreasonable.
‘IT IS LIKE TAKING A STEP FORWARD AND TAKING THREE STEPS BACKWARD’
– Anino
It is really not a good idea. This policy will bring inconveniences, especially in places where your bank ATM isn’t there. Thought they wanted to bring in this cash less policy but I say this is going to be a hindrance to that. It is like taking a step forward and taking three steps backward.
‘IT WOULDN’T BE FAIR TO INTRODUCE IT AT ALL’
– Babatunde Owokoniran
The ATMs were working well without charges and everyone can use whichever bank is available. Introducing it is just out of my imagination, I am not into it at all. I believe it is going to be reversed soon.
There are some areas in the country where you will find just one ATM for a specific bank, you have to go miles before you get your bank’s, this can’t work for small Account holders. Students, for example, save small and withdraw several times. It wouldn’t be fair to introduce it at all.
‘I THINK IT’S MORE OR LESS A FRAUD’
– Olayiwola Jubril Popoola
I think it’s more or less a fraud because they will still charge us the COT and we have been using the ATM for like two years or more during the time of Lamido Sanusi at no extra cost and we are uses to that. I think the status quo should remain.
‘WHAT MATTERS TO ME IS GOOD SERVICE’
– Adekunle Olayemi
I’m indifferent to the policy. What matters to me is good service delivery, availability of cash whenever I want to use ATM.
‘I AM NOT PLEASED WITH IT’
– Hannah Sodiya
I don’t think the re-introduction of ATM service fee is what we need at the moment. I am not pleased with the deduction of any ATM tariff at all. I think the decision should be reverted.
‘IT’S AN ANTI-NIGERIANS POLICY’
– Rukayat Owoseni
It’s anti-Nigerians policy. The new CBN governor should have a rethink about the decision. There is no need compounding the problem the country is facing right now. Charging N65 ATM service fee is like daylight robbery and that should be stopped.
‘THEY ARE RIPPING US OFF’
– Taiwo Sowunmi
It is uncalled for, they are ripping us off. That charge is way too much. I don’t support it.
‘I SUPPORT IT BECAUSE THAT WILL DISCOURAGE LARGE WITHDRAWAL’
– Bankole Omotosho
I don’t think it will have negative impact on customers, I still withdraw and nothing was deducted from my account. I support it because that will discourage large withdrawal at times.
