- Ecobank has announced revised international transfer fees, including those for intra-African transactions.
- Customers will now pay up to $5 for transactions below $200, while transfers above $200 will incur a $10 fee.
- The commercial bank explained that the decision to increase the fees reflects current economic realities.
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Ecobank Nigeria has announced adjustments to its international transfer fees effective from Friday, November 1, 2024,
In a statement to customers titled ‘Important update: revised international transfer fees’ signed by Adebayo Kejawa, the bank’s acting head of payments said the changes are in response to current business realities.
The revised fees include a new SWIFT charge and Intra-African transfers within the Ecobank network:
SWIFT payments typically incur a foreign exchange (Forex) fee when …