Lesson 2, Topic 11
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Commissions & Fees

Master July 15, 2020
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SCHEDULES

1. AUTHORIZED SERVICES

The list below contains the agreed Authorized Services.

  1. Account Opening
  2. Cash Deposit
  3. Cash Withdrawal
  4. Funds Transfer
  5. Bills Payment

This list may be amended from time to time either by the addition, suspension or removal of an Authorized Service. Such amendment shall be in writing.

2. FEES and COMMISSIONS

The table below contains the fees and the commissions thereof due to AGENTS under this agreement.

S/NTransactionsCustomer FeesAgent Commission
 Account Opening (charged to bank) This is dependent on a minimum of N1050 in customer’s account and enrolment on BVN150
 **NextGen Account opening incentive 150
1Deposits10052.5
2Withdrawals10052.5
3Intrabank Transfer10052.5
4*Interbank Transfer (1-5,000)5023.70
*Interbank Transfer (5,001-50,000)10052.5
*Interbank Transfer (50,001 and above)15070

*NIBSS takes a charge of N5.88 per Interbank transaction

Account Opening fees covers BVN registration and such account must be funded by a minimum of N1050.00 deposit.’

 These fees and commissions may be amended from time to time and such amendment shall be in writing and shall be agreed to by both parties.