CBN Announces New ATM Transaction Fees

The Central Bank of Nigeria (CBN) has unveiled new ATM transaction fees, effective March 1, 2025, to address rising operational costs.

Under the revised structure, withdrawals at an individual’s own bank’s ATM remain free.

However, a ₦100 fee will apply for every ₦20,000 withdrawn from on-site ATMs.

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Withdrawals from other banks’ ATMs will incur a ₦100 fee plus up to ₦450 per ₦20,000.
International ATM withdrawals will attract a “cost-recovery charge” matching the fee set by the international acquirer.

Additionally, the previous three free monthly withdrawals for remote-on-us transactions will be removed.

The CBN has urged financial institutions to comply with the new charges, outlined in its 2020 Guide to Charges, starting on the specified date.