Standard Chartered Bank has announced new ATM withdrawal fees in compliance with the Central Bank of Nigeria’s (CBN) directive, effective March 1, 2025. The revised charges will apply to customers using Standard Chartered VISA Debit and Credit cards for cash withdrawals across different ATM locations.
Thank you for reading this post, don't forget to subscribe!According to the updated fee structure, withdrawals at Standard Chartered ATMs will remain free of charge. However, customers withdrawing cash from other banks’ ATMs will be charged ₦100 per ₦20,000 or for any amount lower than ₦20,000. For withdrawals made at off-site ATMs—those located outside bank premises—an additional surcharge of up to ₦500 per ₦20,000 will apply.
For international withdrawals, customers will bear the exact charges imposed by the foreign ATM operator.
New Cash Withdrawal Limits and Processing Fees
Alongside the revised ATM fees, Standard Chartered has reaffirmed cash withdrawal limits for its customers. The daily debit card ATM withdrawal limit remains at ₦70,000, while weekly withdrawal caps are set at ₦500,000 for individuals and ₦5 million for corporate organizations. Exceeding these limits will attract a 3% cash processing fee for individuals and a 5% fee for corporate entities, in addition to the required regulatory documentation.
The bank has urged customers to take advantage of Standard Chartered ATMs and digital banking channels for more cost-effective and seamless transactions.
