Review of Automated Teller Machine Transaction Fees

The Central Bank of Nigeria has reviewed ATM transaction fees to improve efficiency and address rising costs in the banking industry. The new fees, effective March 1, 2025, include charges for on-us and not-on-us withdrawals, with specific rates for on-site and off-site ATMs, while international withdrawals will be subject to cost recovery charges. The three free monthly withdrawals previously allowed for remote-on-us transactions have been discontinued.

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Central Bank of Nigeria
Financial Policy and Regulation Department Central Business District, Cadastrol Zone AO, P.M.B 0187, Garki-Abuja Telephone: +234 (0) 9 462 37401 E-mail:
fprd@cbn.gov.ng Website:
www.cbn.gov.ng February 10, 2025 FPR/DIR/GEN/CIR/001/002 CIRCULAR TO ALL BANKS AND OTHER FINANCIAL INSTITUTIONS REVIEW OF AUTOMATED TELLER MACHINE TRANSACTION FEES In response to rising costs and the need to improve efficiency of Automated Teller Machine (ATM) services in the banking industry, the Central Bank of Nigeria (CBN) has reviewed the ATM transaction fees prescribed in Section 10.7 of the extant CBN Guide to Charges by Banks, Other Financial and Non-Bank Financial Institutions, 2020 (the Guide).

This review is expected to accelerate the deployment of ATMs and ensure that appropriate charges are applied by financial institutions to consumers of the service. Accordingly, banks and other financial institutions are advised to apply the following fees with effect from March 1, 2025:

ATM Transaction Fees
On-Us (customer	No charge
withdrawing at the ATM of
the customer's financial
institution) in Nigeria	On-site ATMs: A charge of N100 per N20,000
Not-On-Us (withdrawal	withdrawal. Off-site ATMs: A charge of N100 plus a
	surcharge of not more than N500 per N20,000
from another institution's
ATM) in Nigeria	withdrawal.
	The surcharge, which is an income of the ATM
	deployer/acquirer, shall be disclosed at the
	point of withdrawal to the consumer.
International Withdrawals	Cost Recovery - exact charge by international
(per transaction) whether
debit/credit card	acquirer

Furthermore, the three free monthly withdrawals allowed for Remote-On-Us (other bank's customers/Not-On-Us consumers) in Nigeria under Section 10.6.2 of the Guide shall no longer apply.

Please be guided accordingly.

JOHN S. ONOJAH
AG. DIRECTOR, FINANCIAL POLICY AND REGULATION DEPARTMENT l :
exe B n

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Review of Automated Teller Machine Transaction Fees

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