Zenith Bank Reviews Charges Downwards, Aimed At Making Banking Easy For Customers

The Oasis Reporters

January 9, 2020

Just four days (January 5, 2020) after the innovative customer-centric New Year message to Zenith Bank Plc customers by its GMD/CEO Ebenezer Onyeagwu, bank charges across many platforms have been reduced. The Bank’s promise to make financial services provision more innovative, quicker, safer and more convenient has been rolled into place.

He says that “the *966# EazyBanking Service, Mobile Banking Application, Card Offerings, Scan to Pay payment offering and other digital solutions are all designed with this in mind” with the promise of upgrading them to ensure that all the banking needs of their “dear esteemed customers” are met.

As a consequence of their stated objectives, Zenith Bank Plc has therefore decided to implement the revised Central Bank of Nigeria, CBN charges on digital services.

Here are some of the reduced charges:

Funds transfer that used to be 50 naira per transaction would now attract 10 naira for transactions below 5,000 naira. But when it is above 5,000 naira to 50,000 naira, the cost would just be 25 naira only. But figures above 50,000 naira would be charged at 50 naira.

Meanwhile, ATM withdrawals on other banks cards would attract 35 naira after the third transaction within one month, down by 30 naira from the previous charge of 65 naira.

Hardware token for Internet Banking that was previously 3,500 naira has now been reduced downwards to 2,500 naira.

Card Maintenance fee (naira) that was 50 naira monthly is now free for Current Account holders. Savings account customers would however pay 50 naira for a quarter, rather than a month.

Meanwhile the card maintenance Fee (FCY) that was USD 20.00 per annum is now USD 10.00 per annum.
GBP 15.00 per annum is now GBP 8.00 per annum.
EUR 16 per annum is henceforth reduced to EUR 9.00 per annum.

Bills payment that was 0.75% of transaction value (capped at 1,200 naira) is now capped at 500 naira per beneficiary payable by the sender.

The cost of SMS Alerts (including software token OTP via SMS) that used to be not more than 4 naira per SMS will now be recovered by the Telcos themselves.

The GMD/CEO reiterated the value he holds the partnership offered by Zenith Bank Plc customers, just as he announced in his New Year message and encourages the highly esteemed customers to sign up for their preferred digital banking solutions.

Ebenezer Onyeagwu prays for the desires of the customers to be achieved in the year 2020. Once again he wishes them a Happy New Year as he thanks them for choosing Zenith Bank Plc.

For further clarifications, customers are encouraged to chat live with the Bank at zenithbank.com , engage with them on Facebook and Twitter or send an email at zenithdirect@zenithbank.com or call Zenith Direct on +234 1 2787000, 0700ZENITHBANK to find out more and learn how to sign up for the bank’s digital solutions.

Greg Abolo

Blogger at The Oasis Reporters.

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