Independent NG
This was disclosed in the CBN new ‘Guide to Charges by Banks Other Financial and Non-Financial’ according to findings by DAILY INDEPENDENT.
The apex bank said the guideline applies to charges by Banks Other Financial and Non-Financial under its licence or regulation.
The document revealed that the CBN has reduced the charges on some transactions including Standing Order Charge (In-Branch); ATM Maninance Fees; Electronic Fund Transfers and Bulk Payments among others.
In the latest guideline, CBN said Standing Order Charge for intra-bank will be free compared to the N300 in the 2017 guideline.
For Interbank Transfers, the CBN cut the charges to a maximum of N50 per transaction compared to the N300 held in 2017.
Bills Payment (Including Bills Payment through other E-channels) is Negotiable subject to a maximum of N500 per beneficiary payable by sender, a review from the…
