Despite economic hardship, POS Operators out with new charges

Despite economic hardship, POS Operators are out with new charges.

The Association of Mobile Money and Bank Agents In Nigeria (AMMBAN) Lagos Chapter, has released a unified price list for Point of Sales (PoS) transactions.

The new price list which was unveiled at the 4th Annual AMMBAN Lagos Symposium themed ‘the impact of cashless policy on mobile money & agency banking, was again voiced in an interview with Channels TV by 

the chairman of AMMBAN, Lagos state chapter, Abiodun David.

David said that the new charges are a reflection of the current economic climate in the nation.

The new charges shows that, withdrawals between N1,000 and N2,400, Nigerians are expected to pay a service charge of N100; withdrawal from N2,500 to N4,000 will incur a service charge of N200, which hitherto was N100. From N4,100 to N6,400, will incur a service fee N300, withdrawal from N6,100 to N7,400 will get a charge of N400, withdrawal from N7,500 to N10,900 will incur a service charge of N500, withdrawal from N11,000 to N14,400, will attract a service charge of N600, withdrawal from N14,500 to N17,900 will be subject to a service charge of N700 and withdrawal from N18,000 to N20,000 will get a charge of N800.

New charges have also been decided for the deposit of money through POS Operators.