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Central Bank of Nigeria imposes 0.5% Fee on All Cash Withdrawals From Domiciliary Accounts in Nigeria
| May 20, 2014

In line with the Central Bank of Nigeria's Guide to Bank Charges, GTBank has started imposing a cash handling fee of 0.5% of transaction value on all cash withdrawals from  domiciliary accounts held back at the Bank.

Below is a summary of charges applicable to domiciliary accounts:


Charges for Cash Lodgement
No Charge
Commission on Cash Withdrawal 0.5% of Transaction Value + 5%  VAT on Fee
Inward Foreign Currency Transfers  No Charge
Outward Foreign Currency Transfers 0.5% of Transaction Value, subject to a minimum of 10 units of the currency + N4,000 Swift Charge + $25 off-shore Bank fee 

 

 



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