GTB, Zenith, UBA, others shun CBN’s order on ATM withdrawal fee

Money Deposit Banks (MDB) have continued to act in defiance of the Central Bank of Nigeria (CBN) guidelines specifically reducing the payable charge for Remote-on-Us transactions.

For clarity, Remote-on-Us transaction is when a bank customer withdraws from another bank’s ATM.

The guidelines, released in January 2022, had among other reviews pegged bank service charge for such transaction at N35, and only after the customer must have used the specific ATM three times within a month.

However, Consumertrics investigations show that majority of banks no longer comply with the directive and are wont to debit customers immediately after each withdrawal.

Our survey of ATM transactions by various customers revealed banks culpable in this act to include Guaranty Trust Bank, United Bank for Africa, First City Monument Bank, Union Bank of Nigeria, Diamond Bank, and First Bank.

What to do if you have been noticing this debit in your bank accounts
  • Approach your bank through its customer’s help desk to lodge a complaint
  • Wait for two weeks to see whether your bank will resolve your complaint.
  • If after lodging your complaint, your bank still fails to engage you and resolve the complaint within 2 Weeks, you should contact the Consumer Protection Department (CPD) of the CBN.
This is how to report a complaint to the CBN’s CPD
  • You can choose any of the following channels:
  • Send an e-mail to, or write a letter: Director, Consumer Protection Department, Central Business District, Abuja.
  • Your letter of Complaint should be addressed to the Director, Consumer Protection Department.
  • You can submit your letter at the CBN Head Office OR at any of the Central Bank of Nigeria branches of nationwide.
  • The Complaint letter (petition) should contain amongst other things the following:
    Name, Address, Contact Phone Number & E-mail of the Complainant;
    • Name of your Financial Institution;
    • Personal banking details (Do NOT include PIN & Passwords, please;)
    • History/Date of the transaction in dispute;
    • Amount claimed (if any);
    • Attach relevant documents to support you claim and;
    • Evidence to show that you have first lodged the complaint at your bank.