PoS Lagos operators announce new withdrawal, deposit charges

PoS Lagos operators announce new withdrawal, deposit charges

Operators of Point of Sale (PoS) in Lagos are set to implement new charges for funds transfer, withdrawals and deposits.
The new uniform rate shows that customers will be charged N500 for N10,000 cash withdrawal.
This was disclosed by the Association of Mobile Money and Bank Agents in Nigeria, Lagos Chapter.
Public Relations Officer, Lagos Chapter, Stephen Adeoye, gave the detailed price list on Friday.
He said the new rate would also eradicate price discrepancies in the industry.
Adeoye said, “Let me tell you the price list, N1000 – N2,400 will be N100 for withdrawal. N3500 to N4000 will be N200; N4,100 to N6,400 will be N300; N6,500 to N7,900 will be N400; N8500 to N10,900 will be N500; N11,000 to N14,000 will be N600; N14,500 to N17, 900 will be N700; N18,000 to N2000 will N800 for withdrawal.
“Like we said, depending on your location, you can also step it down for people depending on the circumstances. But it should not go more than this.”
He said for deposits and transfers, agents would now charge N100 for N1,000 to N4,900; N200 for N5000 to N10,900; N300 for N11,000 to N20,900; N400 got N21,000 to N30,900; N500 for N31,000 to N40,000; and N600 for N41,100 to N50,000.