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CBN has warned banks not to limit ATM withdrawals to less than 20,000 per transaction.
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CBN said any bank that forces customers to withdraw less than 20,000 will be approved.
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Apex Bank also directs affected customers to file complaints against banks that constitute unnecessary restrictions.
The Central Bank of Nigeria (CBN) threatens to impose a penalty on banks that force customers to withdraw less than ₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦₦
This was disclosed in the “Q&A and Answer” interpreter released by the Supreme Bank on Thursday.
According to CBN, the ATM charges withdrawn from ATMs (on-site and on-site) from other banks are based on expectations that customers can withdraw up to 20,000 per transaction.
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“Any customer who forces customers to withdraw less than 20,000 per transaction in their account without having to have a higher payment will violate the regulations and will be properly approved,” CBN said.
Apex Bank also directs affected customers to file complaints against banks that constitute unnecessary restrictions.
The statement added: “Consumers are encouraged to deny using [email protected] to file a complaint with CBN, denying that the withdrawal rights of each transaction are up to 20,000.”
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