pannigeriannews 
Nigerian banks have increased Automated Teller Machine (ATM) withdrawal charges following the implementation of a new policy by the Central Bank of Nigeria (CBN).
Customers will now face higher fees when withdrawing cash from ATMs, especially outside bank premises and for international transactions.
In a message sent to customers on Tuesday, United Bank for Africa (UBA) said customers will continue to enjoy free withdrawals when using its ATMs.
However, withdrawals from other banks’ ATMs will now attract a fee of N100 per transaction. This change affects all customers who use ATMs that do not belong to their primary bank.
In a more significant increase, customers withdrawing cash from ATMs located outside bank premises will now be charged N600 per transaction. This fee applies regardless of the bank involved and is expected to impact customers who rely on off-site ATMs for convenience.
For international transactions, withdrawal charges will be determined by the policies of the foreign banks handling the transactions. This means that Nigerian customers withdrawing cash abroad may experience varying fees, depending on the terms set by the international banks they use.
The new charges reflect the banking sector’s adjustments to regulatory policies and operational costs.
Customers are advised to take note of these changes and plan their transactions accordingly to minimise additional expenses.
