Nigerian banks and over the counter withdrawal charges

Posted by Felix Okoli on Friday February 15, 2013 at 12:38:38:

When it comes to making withdrawals at most banks in Nigeria, it happens that they have introduced a sort of withdrawal charge for funds you withdraw over the counter and no through your ATM.

From my experience, this is limited to customers who prefer to make withdrawals over the counter for sums below a specified value e.g. N20,000.

I saw the notice in my bank one time and when you consider between having to pay for bank charges for making over the counter withdrawals and simply making a cash withdrawal from an ATM, you would rather go for the latter. However, not all Nigerians have ATM or even prefer using it to the multiple issues and problems people have experiences in using those debit cards.

Some of the problems people have reported with using ATM cards include card seizures, interbank ATM fees, multiple debits for single withdrawals, card replacement fees,

ATMs are cool for withdrawing money from your bank account but must everyone use them if they would rather not? I believe that there are still a lot of people who would prefer having access to their money from the bank without having to be charged for doing so, afterall, those banks don't credit our account for making deposits so why charge us for making withdrawals.

If you are going to make withdrawals from your bank, one of the things you should get to know is if there are any charges you have to pay for making the withdrawal.