Banks’ Customers Carpet CBN Over N65 ATM Charge

The Central Bank of Nigeria (CBN) has been lashed over the re-introduction of N65 per withdrawal at Automated Teller Mechine ( ATM) of banks other than the customer’s own.
Some customers, who spoke with The Tide last weekend in Port Harcourt said that the re-introduction of N65 charge per withdrawal was against the anti-corruption fight of President Muhammadu Buhari led administration.
They regretted that some banks now programme their ATM to only allow N500 per transaction as to enable them make more profit.
A bank customer, Mr Igwe Monday who spoke with The Tide at Rumuokoro, lamented over how his reasonable time was spent on the queue in an attempt to make some transactions.
He said that the worst hits are Saturdays and Sundays when families want to attend to some issues of urgent importance.
Monday pointed out that the CBN must address the issue, if it is serious in its plans of monitoring commercial banks in the country.
Another customer, Faith Nyeche, said that the situation is worth restructuring due to the level of stress it poses to customers.
She noted that the system is only a ploy to frustrate customers at weekends.
According to Nyeche, bank transactions should be devoid of difficult conditions, especially at weekend.
In her suggestion, Gladys Odum, maintained that ATM services, especially withdrawal must be free of charge.
She pointed out that since equity leans against double portion, that it would be criminal for commercial banks to make profits both from the customers’ deposit and withdrawals.
Odum regretted that Nigerians would only copy a foreign practice or system half way without following it to the fullest.
It would be recalled that the CBN has sometime in the past, suspended the N65 charge for transaction at ATM by commercial banks.