UBA Customers Decry High ATM Charges

Customers of United Bank for Africa (UBA), say that the proposed upward review of Automated Teller Machines (ATM) transaction charges was outrageous.

Our correspondent recalls that that UBA recently in text messages to customers said that new charges of N30 per withdrawal from its ATM will come into effect on July 1, 2012.

The new charges profile announced by UBA also includes a reduction to N500 for the replacement of ATM cards from the earlier charge of N750 and the cancellation of the monthly flat rate transaction charge of N100 on ATM transactions.

Mrs. Bimbo Olulana said that the proposed new charges would discourage people from automated transactions.

Olulana said that the new charges would have a negative effect on the ongoing Central Bank of Nigeria (CBN) cashless policy.

She described the proposed new charges as “technical sabotage” of the CBN current campaign and mass enlightenment on the use of ATM and Point of Sales (PoS) machines for miscellaneous transactions.

She urged UBA to drop the proposed charges, stressing that the flat rate charges of N100 per month was more customer friendly.

Mr. Gbenga Suleiman, a businessman, said that banks were now reneging on the free services the banks used to woo customers at the introduction of automated transaction in Nigeria.

Suleiman said that there was need for the CBN to intervene and save customers from the excessive charges.

Mr. Akeem Lasisi, a mechanic, said that bank’s policy of making money through the backdoor was not healthy for the nation and the economy.

Mr. Moses Adebayo expressed joy at the bank’s removal of the N100 flat rate monthly charge but described the proposed N30 per withdrawal charges as astronomical.

An official of the bank at the Customer Client Desk in UBA, who pleaded anonymity, confirmed the proposed new charges.

She said the proposal was in response to complaints by customers, adding that she was not sure if the new charge was ordered by the CBN.