National Economy
Monday, July 7, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Business

Banks Raise ATM Cash Withdrawal Limit to N200,000

by Bukola Idowu
2 years ago
in Business
Reading Time: 2 mins read
withdrawal limit
Share on FacebookShare on TwitterShare on Telegram

 

Months after banks restricted withdrawals on automated teller machines(ATMs), commercial banks in the country are beginning to increase the maximum amount of cash customers can with withdraw on a daily basis to N200,000, NATIONAL ECONOMY  learnt.

In an emailed notice to customers yesterday,  Zenith Bank said, customers can now ‘perform cash withdrawals of up to N200,000 per day’ at its ATM terminals across the country.

This, it said, is irrespective of the bank that issued the card.

The bank, however, upheld that the N500,000 weekly cashless policy withdrawal limit for individuals still stands.

You May Like

FAAN Seeks Investment In Cargo, Aviation Industry

Mouka Rewards Top Business Partners With Trip To Cape Town

There are insinuations that other banks in the country may have followed this path, by allowing their customers to withdraw, through ATM terminals, large amount in the region of N200,000, even though, they did not make it public.

Before now, most banks had put a limit of N20,000 daily withdrawal on their ATM terminals mainly for cards issued by other banks. The limit had been put in place during the naira redesign policy.

The Central Bank of Nigeria(CBN) had, last December, limited weekly cash withdrawals over the counter to N100,000 for individuals and N500,000 for organisations. It also set daily cash withdrawals at point of sale (POS) and ATM terminals at N20,000 per day, with the directive taking effect from January 9, 2023.

Customers had resorted to seeking out their bank ATMs where they can make more withdrawals or making cash withdrawals over the counter.

A circular issued by the apex bank during the period, stated that, “the maximum cash withdrawal per week via Automated Teller Machine (ATM) shall be N100,000 subject to a maximum of N20,000 cash withdrawal per day.

“Only denominations of N200 and below shall be loaded into the ATMs. The maximum cash withdrawal via point of sale (POS) terminal shall be N20,000 daily.” The limits on POS as well as denomination part of the statement has however not held ground as cash withdrawals limit through POS has since been in excess of N20,000 while all ATM are dispensing only N1,000 and N500 notes.

Tags: atmBANKSWithdrawal limit increase
ShareTweetShare
Previous Post

Wemabod Estate Commits To Housing Initiative For Nigerians In Diaspora

Next Post

Russian Oil Flow To Africa Up To 420,000 Barrels Daily In March 

ANOTHER GOOD READ

FAAN Seeks Investment In Cargo, Aviation Industry
Business

FAAN Seeks Investment In Cargo, Aviation Industry

2 weeks ago
Mouka Rewards Top Business Partners With Trip To Cape Town
Business

Mouka Rewards Top Business Partners With Trip To Cape Town

1 month ago
Union Bank Hosts Math Contest For Hearing-impaired Students
Business

Union Bank Hosts Math Contest For Hearing-impaired Students

1 month ago
Blue Sands STEM Lab, Others Take Top Prize At MarkHack 4.0
Business

Blue Sands STEM Lab, Others Take Top Prize At MarkHack 4.0

1 month ago
Asharami Energy Commits To Local Capacity Devt, Sustainable Growth
Business

Asharami Energy Commits To Local Capacity Devt, Sustainable Growth

1 month ago
Foreign Investor Reveals Plan To Invest Multi-billion Dollar In Nigeria
Business

Foreign Investor Reveals Plan To Invest Multi-billion Dollar In Nigeria

1 month ago
Next Post
Russian Oil Flow To Africa Up To 420,000 Barrels Daily In March 

Russian Oil Flow To Africa Up To 420,000 Barrels Daily In March 

Most Recent

ECS: NSITF Compensates 2 Beneficiaries With N23m

ECS: NSITF Compensates 2 Beneficiaries With N23m

July 1, 2025
Labour Institute’s DG Hails Tinubu On Rights Protection, Nigeria First Policy

Tinubu Seeks Visa Waiver Deal With OECS Countries

July 1, 2025
Senator Jibrin Barau @66: Footprints Of A Political Powerhouse And Philanthropist

Senator Jibrin Barau @66: Footprints Of A Political Powerhouse And Philanthropist

June 30, 2025
Obasa: Chronicling A Decade Of Commanding Legislative Tour De Force   

Obasa: Chronicling A Decade Of Commanding Legislative Tour De Force  

June 30, 2025
17 States Confirm Plans To Host Olympic Day

17 States Confirm Plans To Host Olympic Day

June 30, 2025
NSC Commends Akeredolu For Driving Nigeria’s Flag Football Success

NSC Commends Akeredolu For Driving Nigeria’s Flag Football Success

June 30, 2025
We Are Ready To Host CAA U18/U20 Championships – LOC

We Are Ready To Host CAA U18/U20 Championships – LOC

June 30, 2025
PFL  Event: Ukah Eyes Thrilling Debut Against South African Ceileigh

PFL Event: Ukah Eyes Thrilling Debut Against South African Ceileigh

June 30, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy