ATM Withdrawal Charges in Nigeria (November 2026): ₦100 per ₦20,000 at Other Banks, Off-site Surcharge, ₦100,000 Daily Limit and How to Avoid the Fees

Many Nigerians only notice ATM charges when they check their statement and see several ₦100 or ₦600 debits they cannot explain. The rules are actually simple, and once you know them you can avoid most of the fees.

This guide uses only official sources: the CBN’s frequently asked questions on its February 2025 review of ATM transaction fees, the CBN’s FAQs on the revised cash policies that took effect on 1 January 2026, and a bank’s published 2026 price list to show how the charges look in practice.

ATM Withdrawal Charges at a Glance

Where you withdraw	What the CBN allows	Shown on screen?
Your own bank’s ATM (any location)	Free	Not applicable
Another bank’s ATM inside or at a bank branch (on-site)	₦100 per ₦20,000 or part of it	Charged by your bank
Another bank’s ATM outside a branch (off-site), e.g. mall or filling station	₦100 per ₦20,000, plus a surcharge of up to ₦500 per ₦20,000	The surcharge must be displayed before you approve
An ATM outside Nigeria	Cost recovery: the exact fee charged by the foreign ATM owner is passed to you	Depends on the foreign bank

The CBN says these are maximum charges. Banks are not allowed to charge more, but they may charge less if they choose. It also says the surcharge at off-site ATMs is the income of the company that owns the ATM, not your bank.

What “on-site” and “off-site” mean

The CBN defines on-site ATMs as machines inside a bank branch or on the bank’s premises. Off-site ATMs are outside bank premises, such as in shopping malls, filling stations and other public places. If an off-site ATM belongs to your own bank, there is still no charge. The CBN’s FAQ is clear that “the location of the ATM does not affect customers of the bank that deployed the ATM.”

How Much You Pay: Worked Examples

The ₦100 fee applies to every ₦20,000 or part of it. The CBN explains that this stops people from being forced to split withdrawals into smaller amounts. In practice it means even a ₦5,000 withdrawal at another bank’s ATM costs ₦100.

Withdrawal	Own bank’s ATM	Other bank, on-site	Other bank, off-site (maximum)
₦5,000	₦0	₦100	₦600
₦20,000	₦0	₦100	₦600
₦30,000	₦0	₦200	₦1,200
₦50,000	₦0	₦300	₦1,800
₦100,000 (daily maximum)	₦0	₦500	₦3,000

The difference adds up over a year. Someone who takes out ₦20,000 four times a month from other banks’ on-site ATMs pays ₦400 a month, or ₦4,800 a year. If those same withdrawals are at off-site ATMs charging the full surcharge, the cost rises to ₦2,400 a month, or ₦28,800 a year. At your own bank’s ATMs, it costs nothing.

Why your statement may show ₦107.50 or ₦645

Banks publish their own price lists in line with the CBN guide, and some show the fees with value added tax (VAT) at 7.5% included. Stanbic IBTC’s 2026 pricing guide, for example, lists ₦107.50 per withdrawal at another local bank’s ATM and ₦645 per withdrawal at an off-site ATM, both VAT inclusive. Those are the CBN’s ₦100 and ₦600 (₦100 plus the maximum ₦500 surcharge) with 7.5% VAT added. Check your own bank’s published tariff to see exactly what it charges.

The ₦100,000 Daily ATM Limit and ₦500,000 Weekly Cash Limit

A separate set of CBN cash rules took effect nationwide on 1 January 2026 for all deposit-taking banks, including commercial, microfinance, mortgage, non-interest and payment service banks. According to the CBN’s FAQs on the revised cash-related policies:

Rule	Individuals	Companies
Daily withdrawal limit at ATMs and PoS	₦100,000 per card or account	₦100,000 per card or account
Weekly cash withdrawal limit (all channels together)	₦500,000	₦5 million
Fee on cash withdrawn above the weekly limit	3% of the excess only	5% of the excess only
Limit on cash deposits	None, and no processing fee	None, and no processing fee

Key points from the CBN’s FAQs:

• ATM and PoS withdrawals count towards the weekly limit. Banks add up your cash withdrawals from all channels (ATM, PoS, over the counter and cheques) and only charge the fee when your total for the week goes above ₦500,000.
• The limits are per customer, across all your accounts in the same bank. Having two accounts at one bank does not double your limit.
• You can withdraw more than ₦100,000 in a day over the counter at your bank, but not from an ATM or PoS.
• The excess fee is only on the amount above the limit. The CBN’s own example: if you withdraw ₦700,000 in one week, you are ₦200,000 over the limit, so you pay 3% of ₦200,000, which is ₦6,000.
• You do not need to apply for a higher limit or bring any documents. The CBN says customers cannot apply for exemptions, and excess fees are not refundable.
• Third-party cheques: you can only cash up to ₦100,000 over the counter. A bigger third-party cheque must be paid into your account.
• Foreign currency withdrawals are not covered by these limits, but naira withdrawals with a foreign card are.

Remember that ATM fees and the weekly cash rules are separate. Every withdrawal at another bank’s ATM attracts the ATM fee, even if you are far below the weekly limit.

How to Avoid ATM Charges

The CBN’s own advice is to use your bank’s ATMs, limit your use of off-site ATMs and use other channels such as mobile apps and PoS payments. In practice:

1. Use your own bank’s ATMs. It is the only way to withdraw cash with no ATM fee. Check your bank’s website or app for its ATM locations near you.
2. Read the screen at off-site ATMs. The surcharge must be displayed before you approve the transaction. If it is high, cancel and find another machine.
3. Withdraw fewer, larger amounts. Because the fee is per ₦20,000 or part of it, taking ₦20,000 once costs the same as taking ₦5,000 once. Four ₦5,000 withdrawals cost four times as much.
4. Pay by transfer or card where you can. Transfers and card payments avoid ATM fees altogether. See our guide to GTBank transfer charges and limits for how much transfers cost.
5. Choose a bank with ATMs where you live and work. If you are always using other banks’ ATMs, it may be worth comparing banks. Our GTBank vs Access Bank vs Zenith Bank comparison is a good starting point.
6. Plan big cash needs. If you will need more than ₦500,000 in cash in a week, for example for a ceremony, the 3% fee applies to the excess. Paying vendors by transfer avoids it.

What to Do if a Bank Overcharges You

The CBN says banks may not charge more than the prescribed fees, and it also says the fees assume banks allow you to withdraw up to ₦20,000 in a single transaction. A bank that forces a customer with enough money to take out less than ₦20,000 at a time, against the customer’s wishes, would be breaking the spirit of the rules and could be sanctioned.

If you think you have been overcharged:

1. Check your statement and your bank’s published tariff to confirm what was charged and why.
2. Complain to your bank first through its customer care channels, and keep the complaint reference number.
3. Escalate to the CBN if the bank does not resolve it. The CBN’s ATM fees FAQ gives cpd@cbn.gov.ng as the address for complaints from customers denied the right to withdraw up to ₦20,000 per transaction.

If an ATM debits you without giving you cash, report it to your own bank immediately, with the date, time, amount and the ATM’s location. Keep the receipt or a screenshot of the debit alert.

Other ATM Rules in 2026

The CBN issued new guidelines for ATM operations in a circular dated 13 March 2026. According to the CBN, they apply to banks, other financial institutions, independent ATM deployers and card issuers. They require independent ATM deployers to get CBN approval before operating, strengthen security requirements, and allow secure biometric authentication with privacy safeguards.

For everyday customers, the fee rules from February 2025 still apply. The CBN describes its 2020 Guide to Charges by Banks, Other Financial and Non-Bank Financial Institutions as the extant guide, and the February 2025 review replaced the ATM fees in Section 10.7 of that guide.

Frequently Asked Questions

Is it free to withdraw from my own bank’s ATM?

Yes. The CBN says withdrawals from your own bank’s ATMs are free, even if the ATM is off-site.

How much is the charge for using another bank’s ATM in Nigeria?

₦100 for every ₦20,000 or part of it at an on-site ATM. At an off-site ATM, the owner can add a surcharge of up to ₦500 per ₦20,000.

Do I still get three free withdrawals a month at other banks’ ATMs?

No. The three free monthly withdrawals ended when the new fees took effect on 1 March 2025.

What is the maximum I can withdraw from an ATM in a day?

₦100,000 per card or account per day, under the CBN cash rules in force since 1 January 2026.

What is the weekly cash withdrawal limit in Nigeria?

₦500,000 for individuals and ₦5 million for companies, across all channels. Above that, the fee is 3% (individuals) or 5% (companies) of the excess.

Is there a limit on cash deposits?

No. Since 1 January 2026, there is no limit and no processing fee on cash deposits.

How much does it cost to use my Nigerian card at an ATM abroad?

The CBN allows banks to pass on the exact fee charged by the foreign ATM owner. Check your bank’s tariff and any limits on foreign card use before you travel.

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Sources

1. Central Bank of Nigeria – “Frequently Asked Questions (FAQs) on the Review of ATM Transaction Fees” (circular dated 10 February 2025, effective 1 March 2025), cbn.gov.ng, checked 1 November 2026
2. Central Bank of Nigeria – “FAQs on Revised Cash-Related Policies, effective January 1, 2026”, cbn.gov.ng, checked 1 November 2026
3. Central Bank of Nigeria – “Reforms and Initiatives” page: Review of ATM Transaction Fees, New Cash Policies Take Effect January 2026 and New Comprehensive Guidelines for ATM Operations, cbn.gov.ng
4. Stanbic IBTC Bank – “2026 Pricing Guide (in line with the CBN Guide to Charges)”, stanbicibtcbank.com

Last updated: 1 November 2026 · NaijaSabi Finance Desk. Bank charges can change; check the CBN website and your bank’s published tariff for the latest figures. This is general information, not financial advice.