Nigerian banks ATM transfer limit 2020/2021 [Withdrawal limit inclusive]
November 13, 2020
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.
Kindly check the below table for your bank of interest and be informed appropriately.
|Bank||ATM daily transfer limit||ATM daily withdrawal limit||Charge on interbank withdrawal|
|Access bank||This depends on the limit you set; you can actually go as high as N1,000,000 a day||N150,000||Attracts N35 after the third transaction in a months|
|Ecobank||Up to N500,000||Up to N160,000||Interbank transfer charge is N100, while N35 charge apply after 3rd transaction in a month|
|First bank||N400,000 daily limit||N150,000 daily in tranches of N20k||N35 applies after the third transaction interbank in a month|
|FCMB||N1,000,000 daily||N150,000||Both intra and interbank transfer charge are N100, N35 after 3rd attempt in a month|
|GTBank||N1,000,000 daily||N100,000 daily||Interbank transfer charge is N100, then N35 after 3rd attempt in a month|
|Heritage bank||N100,000 daily||N100,000 daily in tranches of N20,000||Interbank charge max 52.50, N35 apply after 3rd withdrawal in a month|
|Jaiz bank||N500,000 daily||N150,000 daily||N35|
|Keystone bank||N150,000 daily||N150,000 daily||N35 charge apply after 3rd withdrawal in a month|
|Polaris bank||N50,000 daily||N160,000 daily||Interbank charges on transfer is N53, interbank charges on withdrawal N35|
|Providus bank||N200,000||N150,000||N35 apply after 3rd withdrawal in a month|
|Sterling bank||N1,000,000||N150,000||Interbank transfer charge is N100, N35 after 3rd withdrawal in a month|
|Stanbic IBTC||N500,000||N150,000 daily||Interbank charges N53 max|
|Unity bank||N500,000 daily||N150,000||Interbank transfer charge N100, N35 apply after the 3rd monthly withdrawal|
|UBA||N500,000||N200,000||N35 apply after 3rd withdrawal for the month|
|Union bank||Verve=N210,000 daily|
Master card= N250,000
Master card= N300,000
|Interbank charge is N62, N35 apply after 3rd withdrawal for the month+|
|Zenith bank||N200,000||N150,000||N35 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.
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.
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.
Raphael Orji is a freelance writer, professional blogger and a content marketing consultant. I work with small businesses, startups and entrepreneurs in building their brand image with high quality blogging and content marketing strategy.
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