Access Bank, one of Nigeria’s leading financial institutions, has released a breakdown of approved savings and account services charges. The breakdown was captured in a service charge and rate cards document approved by the Central Bank of Nigeria. The document showed charges from card transactions to account maintenance, providing customers with a clear understanding of the costs associated with their banking transactions
Access Bank’s list of charges For personal savings, Access Bank said the rate for electronic transfer transactions is N50 for transactions done above N50,000. It also said N25 will be charged for transactions between N5,000 to N50,000 while N10 charge applies to those below N5,000. Another is the quarterly debit card maintenance fee (Inclusive of VAT), which will attract a N53.75 charge, and the issuance fee for these cards is N1,000 (one-off charge) irrespective of the card type.
The fee for SMS obligatory alerts will be based on cost recovery from the previous maximum price of N4. The current account maintenance fee stands at N1. Additionally, the charges for a chequebook are as follows: 25 leaves cost N806.25, 50 leaves cost N1,612.50, and 100 leaves cost N3,225.