How to withdraw money from a Nigerian bank account

Posted by Felix Okoli on Tuesday May 27, 2014 at 9:49:52:

Withdrawal of money in Nigeria has gotten easy and it can be done without even visiting the bank. As new methods of payments are being added to our banking systems to serve customers better. In this article, we would look into 3 unique ways you can withdraw money from a Nigerian bank.

In order to be able to withdraw money from a bank, one must firs of all create an official relationship with the bank and then have funds to his credit.

Ways to withdraw
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1. Direct Physical Withdrawal: This is the method that has been in use before the introduction of other methods. It normally requires making a physical visit to the bank to apply for a withdrawal. it can be frustrating a times because sometimes when you go to withdraw through direct method, you find a long queue waiting to withdraw too. To withdraw money with the direct withdrawal method, visit the bank you hold an account with, fill up the required information on the withdrawal slip; your name, amount you wish to withdraw and your signature. Submit the form to the cashier who accesses your account and pays you cash. Count your cash on the counter before leaving.

2. ATM Withdrawal: This is a faster and more convenient way to withdraw money from a Nigerian bank. All you need to do is visit any ATM near you, slot in your card, enter your PIN, select the cash withdraw option; enter the amount you wish to withdraw, confirm the transaction. The ATM would pay you the amount in a matter of seconds and you'd be given back your ATM card

3. Cheque withdrawals: Some account holders especially current and corporate account holders are issued cheques for withdrawal by a third party.
The holder of the account can write a cheque to a third party, the third party goes to the bank to cash the amount on the cheque on behalf of the account holder. One can also withdraw directly from his cheque account over the counter by writing a cheque in his name.