By Alexis Uchendu
The Central Bank of Nigeria (CBN), has discontinued the three free monthly ATM withdrawals for customers using ATMs outside their bank’s network, effective March 1, 2025.
Under the new policy, withdrawals from a customer’s own bank’s ATM remain free, but using ATMs from other banks will incur fees.
On-site ATMs will charge ₦100 per ₦20,000 withdrawal, while off-site ATMs will carry an additional ₦500 surcharge.
International ATM withdrawals will attract charges based on the acquirer’s rate.
The policy aims to improve ATM efficiency and reduce operational costs, while encouraging digital banking and expanding ATM access across Nigeria.
