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CBN slashes banks’ ATM withdrawal fee from N65 to N35

The Central Bank of Nigeria has issued new guidelines to banks in Nigeria.

According to the new guidelines, charges on ATM withdrawals in a separate bank’s machine after a third monthly transaction will now be N35 as against the former N65.

This means that customers who use their ATM cards to withdraw cash in machines other than those of their banks, will now pay N35 per withdrawal after the first three withdrawals in a month. The apex bank also fixed N1,000 to replace or renew a debit card.

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