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How much is POS cash withdrawal charges in Nigeria?
Read all about how much is Pos cash withdrawal charges in Nigeria.
The POS business is probably one of the most popular businesses in Nigeria, everywhere you go, you will definitely see a small kiosk or store that operates this particular business.
Small, medium and large business use the POS machine to receive payments from their customers for goods and services.
Withdrawing money from your bank account is now very easy, as you don’t need to visit the ATM machines and stand in long queues to get money.
All you have to do is walk to a close by POS agent and withdraw money with your ATM card for a small fee.
These POS agents charge a little fee for their services, the charge is dependent on the amount of cash that you want to withdraw.
In this post, I am going to be writing about “How much is POS cash withdrawal charges in Nigeria” and more.
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Read my post on the best POS machines in Nigeria
How much is POS cash withdrawal charges in Nigeria?
The cash withdrawal charges on POS is usually different from one agent to another, but there is usually a range you can expect when you go to withdraw money via POS.
| Amount | Charge |
| 1000 naira – 10000 naira | 100 naira – 150 naira |
| 11,000 naira – 25,000 naira | 150 – 300 naira |
| 26,000 naira – 40,000 naira | 300 naira – 800 naira |
| 41,000 naira – 80,000 naira | 800 naira – 2000 naira |
| 81,000 naira – 100,000 naira | 2000 naira – 4,000 naira |
| 100,000 naira and above | 4,000 naira and above |
This charge is not fixed, as it usually changes depending on the availability of cash provided by the banks.
What is POS?
POS (point of sales) machine is a terminal that processes credit or debit cards and finalizes the transaction. The POS machine duties involves reading data of a client’s credit/debit card, transferring the money from the clients account to the traders as well as recording the transaction details.
Popular POS machines in Nigeria
The below are some of the popular POS machines in Nigeria:
- Moniepoint POS
- Opay POS
- PalmPay POS
- Paga POS
- Kudi/Nomba POS
- Baxi Box POS
Conclusion
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