New ATM charge: Sterling Bank deploys additional ATMs to protect customers

Sterling Bank has announced the deployment of additional ATM points nationwide with a view to protect its customers from the effect of the reintroduction of the ATM charge of N65 by the Central Bank of Nigeria (CBN) on Remote-on-Us ATM transactions.
A statement from the bank said that additional ATMs will be added to existing branches while ATM Galleries will be put in place in strategic locations nationwide.
A robust infrastructure to support the expansion has also been put in place, the Bank said..
Remote-on-Us transaction occurs when a card holder goes to the ATM of a Bank other than his or her own bank to make a withdrawal.
The card holder will be charged N65 after making three withdrawals from such ATMs after a given month.
The Bank where his or her account is domiciled will be responsible for the payment of the charge of N65 for the first three withdrawals from another bank’s ATM.
While speaking against the backdrop of insinuations that the charge was initially removed by the apex bank in December 2012, Sterling Bank’s Group Head, Strategy & Communications, Mr. Shina Atilola explained that “the charge payment was never suspended by the CBN.
Rather, the responsibility for absorbing the charge was transferred to the commercial banks to pay on behalf of their customers” to encourage the use of ATMs by Nigerians.