Banks begin charging N100 for ATM withdrawals today

Nigerian banks have started implementing new ATM withdrawal charges as directed by the Central Bank of Nigeria (CBN).

Recall that March 1, 2025, had been marked as the start date for this new policy

Same Bank Withdrawals: Customers withdrawing cash from their own bank’s ATMs will not be charged.

Other Bank Withdrawals: A fee of N100 per N20,000 withdrawal will apply when using an ATM from a different bank.

On-Site vs. Off-Site ATMs: Withdrawals from ATMs located within bank premises will attract a N100 charge per N20,000, while those from off-site ATMs (such as malls or fuel stations) may incur an additional surcharge of up to N500.

No More Free Withdrawals: The previous policy allowing three free withdrawals per month on other banks’ ATMs has been removed.

The CBN says these adjustments aim to cover rising operational costs and improve ATM service efficiency across the country.