Guarantee Trust Bank, and Ecobank are still charging customers 52.50 kobo per electronic transaction despite new CBN policy.
A customer of guarantee trust Bank plc told CONSUMERS’ ASSEMBLY recently in Lagos that, the bank charged her 52.50 kobo for transferring transferring 10 thousand to another person on the 3rd of January 2020.
In another development, a customer of Ecobank plc also told CONSUMERS’ ASSEMBLY that he was charged 52.50 kobo for transferring one thousand naira to his friend on the 4th of January, 2020. A development CONSUMERS’ ASSEMBLY find disturbing as it contravene the CBN policy on bank charges on transaction.
Recall that CBN reduces charges applicable to bank accounts, electronic transfers, and Automated Teller Machines (ATM).
According to the new policy, electronic transfers below N5,000 will attract a maximum charge of N10; transfer from N5001 – N50,000 – N25; and transfers above N50,000- N50.
CBN says the new charges will further allow bank customers to embrace electronic banking channels and improving financial inclusion. The policy will take effect from 1st of January, 2020, CBN noted
In all this, some banks in Nigeria are still in the habit of charging customers the old rate.
