ATM transfer limit

Banking

Nigerian banks ATM transfer limit 2020/2021 [Withdrawal limit inclusive]

ATM transfer limit – According to a recent data by statista, the value of fund transfers in Nigeria was over N2.6trillion naira between January and June 2020 alone.

The fact that Nigerians have finally embraced e-channel platforms for transactions is a positive signal in the right direction.

We are nowhere close to the proposed cashless economy, but we aren’t still where we used to be either, not losing sight on few bottlenecks that seem to be stalling the success of the Nigerian e-channel platforms like;

  • Dispense errors
  • Network downtime
  • False debit etc

Despite all these, I am confident enough to say we’ve made significant progress in this department, despite not to have matched the status of the world class banking, in view of countries we look up to in technology based service delivery.

That aside now….

I’ve received a good number emails and enquiries from readers on this platform particularly on ATM transfer limit and ATM withdrawal limit in Nigeria.

If you are a regular user of this alternate channel for fund transfers and withdrawals in the country, you’d sure come to a point your card issuer declines your request to proceed with any of the aforesaid transactions.

This happens given to what your bank termed as daily transfer or withdrawal limit.

As a general rule, there’s an extent to which you cannot be allowed to exceed certain thresholds across the e-channel platforms in a single day, this is how you come about the daily transfer and withdrawal limit.

In any case you want to know the ATM daily transfer and withdrawal limit of any Nigerian bank, you are in the right place, relax and read through, I’ve taken my time to compile what I term a complete guide on this subject.

Read also: All Nigerian Banks transfer limit via USSD and Mobile Banking

Kindly check the below table for your bank of interest and be informed appropriately.

BankATM daily transfer limitATM daily withdrawal limitCharge on interbank withdrawal
Access bank  This depends on the limit you set; you can actually go as high as N1,000,000 a dayN150,000Attracts N35 after the third transaction in a months
Ecobank Up to N500,000Up to N160,000Interbank transfer charge is N100, while N35 charge apply after 3rd transaction in a month
First bank N400,000 daily limitN150,000 daily in tranches of N20kN35 applies after the third transaction interbank in a month
FCMB N1,000,000 dailyN150,000Both intra and interbank transfer charge are N100, N35 after 3rd attempt in a month
GTBank N1,000,000 dailyN100,000 dailyInterbank transfer charge is N100, then N35 after 3rd attempt in a month
Heritage bank N100,000 dailyN100,000 daily in tranches of N20,000Interbank charge max 52.50, N35 apply after 3rd withdrawal in a month
Jaiz bank N500,000 dailyN150,000 dailyN35
Keystone bank N150,000 dailyN150,000 dailyN35 charge apply after 3rd withdrawal in a month
Polaris bank N50,000 dailyN160,000 dailyInterbank charges on transfer is N53, interbank charges on withdrawal N35
Providus bank  N200,000N150,000N35 apply after 3rd withdrawal in a month
Sterling bank N1,000,000N150,000Interbank transfer charge is N100, N35 after 3rd withdrawal in a month
Stanbic IBTC N500,000N150,000 dailyInterbank charges N53 max
Unity bank N500,000 dailyN150,000Interbank transfer charge N100, N35 apply after the 3rd monthly withdrawal
UBA N500,000N200,000N35 apply after 3rd withdrawal for the month
Union bank Verve=N210,000 daily
Master card= N250,000
Verve= N200,000
Master card= N300,000
Interbank charge is N62, N35 apply after 3rd withdrawal for the month+
Wema bank *********************************************
Zenith bankN200,000N150,000N35 apply after 3rd withdrawal for the month

FAQs on ATM transfer limit

Maximum transfer on ATM

This depends on the bank in question, as you can see, each bank has its peculiar threshold.

While others offer as high as N1,000,000 other banks offer as low as N50,000. Kindly go through the table and see what your preferred bank offers.

ATM withdrawal limit Nigeria

Just like there are transfer limits, there are likewise withdrawal limits.

Read also: How to use GTBank USSD CODE for a better experience- Financengr

The withdrawal limit here is how much maximum you can withdraw with your ATM card from the Automated Teller Machine (ATM).

While others go as high as N300,000 other banks offer as low as N20,000. Kindly check the table for your perusal.

UBA ATM limit in Nigeria

The United Bank for Africa (UBA) has a transfer limit of N500,000 in Nigeria.

Maximum transfer on First bank ATM

On FBN ATM, you can transfer as high as N400,000 daily.

Conclusion

From the above table, you can readily get the ATM transfer limit of any Nigerian bank of concern.

Meanwhile, kindly help share this guide to help friends too.

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