First City Monument Bank introduces Instant Funds Transfer via its Electronic Channels
Are you having issues with online / ATM usage of your Nigerian issued Visa Card or MasterCard?
Let us have your say; stating the problem(s) you encounter, if possible, also kindly state the name of the receiving agent or website where you experienced the issues. Also, do not forget to state which Nigerian Bank issued the card to you.
I am here to assist you with any issues especially when it requires a technical solution!
I had to bring up this topic with regards to the charges I get to pay whenever I make an ATM withdrawal using my dollar denominated Visa Card in Nigeria.
I use Intercontinental Bank’s dollar denominated VISA Debit Card and whenever I use the automated teller machine (ATM), I get automatically debited to the tune of US$2 per transaction, plus additional 1% of the total withdrawal per transaction.
Intercontinental Bank allows a maximum withdrawal of N20,000 per transaction, therefore if you want to withdraw the naira equivalent of N60,000 (Sixty Thousand Naira) from your dollar Visa Card; that means you would have to make 3 (three) withdrawals of N20,000 each and you would be charged US$2 + 1% of each N20,000 Meaning, if withdrawing the max of N20,000 per transaction, you would also be debited an equivalent of N516 (Five Hundred and Sixteen Naira) for each transaction as bank charges.
Lets know what your bank charges for withdrawing using your dollar denominated VISA Card on naira-based Automated Teller Machines (ATMs).