In a significant move to comply with the directive from the Central Bank of Nigeria (CBN), First Bank has announced a revision of its ATM withdrawal charges, effective March 1, 2025. The bank has decided to eliminate fees on withdrawals made at its own ATMs, ensuring that customers can access their funds without incurring charges.
However, the policy shift also introduces new charges for withdrawals from other banks’ ATMs. Customers will now face fees for the first three withdrawals made at these ATMs. The specifics are as follows: withdrawals from ATMs located within bank premises will incur a fee of ₦100 for every ₦20,000 withdrawn, while those from ATMs outside bank premises will attract the same fee plus an additional surcharge of up to ₦500. For international withdrawals, customers will be subject to fees determined by the respective international bank processing the transaction.
First Bank has reassured its customers of its ongoing commitment to delivering superior banking services while implementing robust security measures to safeguard users against fraud. The bank urges its customers to remain vigilant and avoid disclosing sensitive banking information, including passwords, token responses, card numbers, and ATM PINs.
As the banking landscape evolves, First Bank’s proactive adjustments reflect its dedication to customer satisfaction and adherence to regulatory guidelines.
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