The move follows the bank’s decision to merge with Access Bank Plc, in a bid to become the biggest retail bank in Africa.
This implies
that customers of this bank will be at a great advantage over the Central Bank of Nigeria’s 2014 directive that cash withdrawal at another bank other than an account holder’s bank would cost N65, while withdrawal at the ATMs of a customer’s bank is free.
The CBN’s policy stated that the first three transactions in a month by the customer of another bank are free for the card holder but paid for by the issuing bank.
Diamond Bank’s announcement is effectively saying all transactions across Access Bank ATMs are free, showing that the banks are now one in principle.
The bank also asserted that the merger will lead to a bigger entity with 29 million customers, 3,100 ATM machines, 32,000 point of sale (POS) machines and 13 million mobile accounts.
The Guardian
