Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,195,144 members, 7,957,274 topics. Date: Tuesday, 24 September 2024 at 10:11 AM

First Bank 'First Monie' Mobile Money - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / First Bank 'First Monie' Mobile Money (129413 Views)

Mobile Money From Diamond Yellow Account/mtn Partnership-how To Open / Monie Management / Mobile Monie:first Monie (2) (3) (4)

(1) (2) (3) (4) (5) (6) (Reply) (Go Down)

Re: First Bank 'First Monie' Mobile Money by vicoloni(m): 12:13am On Feb 26, 2013
jp philips:



you just beat me to it, i was about opening a thread on this subject matter this morning

FBN sent me a message saying that from 11th of feb 2013, all transfers to other banks below 500k will attract #105 while above will attract #150. it was 47 naira before now across board.

i have not gotten any similar notice from my other banks, which leads me to believe that it is not an across board directive from the CBN.

FBN is trying to set a precedence that will be worse than the ATM saga, we are talking about above 150/105naira multiplied by total transactions per day, this is absurd.
I thought I was the only one who noticed the new thieving methods of FBN.

the CBN Gov. convinced Nigerians that the Need to go cashless was permuted to reduce cash transfer risk and logistics charges including cost of printing notes, FBN this month has turned it into an avenue to extort customers.

the internet infrastructure we use to facilitate those transactions are being maintained in part by both the customers and the bank.

this defeats the cashless policy of the CBN and it is more worrisome why the CBN boss is keeping quiet.

if we save money for the govt for printing less cash, cash handling charges, security etc, the least they should do is to charge less on those transactions.because we bear a brunt in the internet infrastructure

for a transfer from an FBN maintained current account, you are charged COT per tramnsaction, charged alert on the transaction(which i have noticed in recent time is higher than other banks), charge you inter bank transfer rate, charge you VAT on COT and sundry vats.

amidst this jamboree on your account, they hardly pay a reasonable interest on savings account.

what the new policy entails is that for every 1,000 naira you transfer from your FBN maintained current account to another bank (after paying for your internet),
you lose another

173 naira,above 10% of my transaction worth? God help you if you transfer above 500k. Now if you dare transfer 1million naira or 500k on POS, kai! your account will squeeze face immediately.

what good reason does first bank have for these arbitrary charges? cost of cash handling over the internet? cost of printing e currency?


imagine charging me VAT on COT? VAT on the money you are making from my money shouldn't it be the other way round?
why not charge VAT on SMS charge?

FBN are the latest thieves in town, im putting those accounts on hold pending when those Agbero in Suit realize that making money is not easy in Naija.

the most annoying of it all are salary accounts where you have to transfer to 50staff at a time, the bank charges alone is enough to hire an extra staff. Nonsense!!!


Re: First Bank 'First Monie' Mobile Money by vicoloni(m): 12:18am On Feb 26, 2013
jp philips:



you just beat me to it, i was about opening a thread on this subject matter this morning

FBN sent me a message saying that from 11th of feb 2013, all transfers to other banks below 500k will attract #105 while above will attract #150. it was 47 naira before now across board.

i have not gotten any similar notice from my other banks, which leads me to believe that it is not an across board directive from the CBN.

FBN is trying to set a precedence that will be worse than the ATM saga, we are talking about above 150/105naira multiplied by total transactions per day, this is absurd.
I thought I was the only one who noticed the new thieving methods of FBN.

the CBN Gov. convinced Nigerians that the Need to go cashless was permuted to reduce cash transfer risk and logistics charges including cost of printing notes, FBN this month has turned it into an avenue to extort customers.

the internet infrastructure we use to facilitate those transactions are being maintained in part by both the customers and the bank.

this defeats the cashless policy of the CBN and it is more worrisome why the CBN boss is keeping quiet.

if we save money for the govt for printing less cash, cash handling charges, security etc, the least they should do is to charge less on those transactions.because we bear a brunt in the internet infrastructure

for a transfer from an FBN maintained current account, you are charged COT per tramnsaction, charged alert on the transaction(which i have noticed in recent time is higher than other banks), charge you inter bank transfer rate, charge you VAT on COT and sundry vats.

amidst this jamboree on your account, they hardly pay a reasonable interest on savings account.

what the new policy entails is that for every 1,000 naira you transfer from your FBN maintained current account to another bank (after paying for your internet),
you lose another

173 naira,above 10% of my transaction worth? God help you if you transfer above 500k. Now if you dare transfer 1million naira or 500k on POS, kai! your account will squeeze face immediately.

what good reason does first bank have for these arbitrary charges? cost of cash handling over the internet? cost of printing e currency?


imagine charging me VAT on COT? VAT on the money you are making from my money shouldn't it be the other way round?
why not charge VAT on SMS charge?

FBN are the latest thieves in town, im putting those accounts on hold pending when those Agbero in Suit realize that making money is not easy in Naija.

the most annoying of it all are salary accounts where you have to transfer to 50staff at a time, the bank charges alone is enough to hire an extra staff. Nonsense!!!


Re: First Bank 'First Monie' Mobile Money by mfm04622: 12:42am On Feb 26, 2013
[quote author=jp philips]

i dont know where you wanna take your assumptions to but i am telling you for a fact that you are no where close.

why should you be looking at other extortions as a yard stick to justify another, is that how adults think?

i am glad you have admitted they reviewed their charges, my question is this; what justifies that?

what extra liability have they incurred to warrant the increament?

how does extortion consolidate the cashless idea?

if you have the right answers to these questions, you will understand why i am furious.

by october last year first bank has declared a whooping profit of 54.12 billion after tax. how do you think they make such amounts?

rightly put, they are stealing from you.

sorry to get a little personal with you ,how much did you turn over in your buisness last year?

how many civil and private servants got 100% pay rise last year to justify that onerous increament?

a thief that was charging 47naira just last year with sundry thefts raked in over 54billion as profit, overnite reviewed same service charge upwards by100% without provocation and you think its ok??

yet we claim we have a CBN governor abi mickey mouse.

i pray i dont meet someone with your mentality in my line of buisness damn!

Nigerians and free services mentality. You want quality services but want it free. There is no free lunch anywhere, if you get it free, someone is subsidising you. I hope you know the bandwidths banks need for the internet banking service to work is not free, nor the interconnection services when you need to transfer funds to other banks. You are crying about 105 Naira, haba!!! If you want to take transport to and fro a bank won't you spend more than that?
Re: First Bank 'First Monie' Mobile Money by segunobe(m): 1:56am On Feb 26, 2013
Firstmonie (pronounced in pidgin) is a mobile banking service that allows phone users to send money,receive money,and pay bills from their phone,and its powered by firstbank. Its easy,safe and convenient.
There 3 tiers of account:
1-classic
2-Gold
3-Platinum.
The classic has a minimum transfer limit of 3k,and a maximum limit of 30k daily in ten transactions.
Gold has a minimum limit of 10k and a maximum limit of 100k daily in ten transactions.
While platinum has a minimum limit of 100k and a maximum transfer limit of 1million daily in ten transactins. Its very easy to register,just dial *894# and respond CORRECTLY to the questions that will be sent to you and you're good.
After registration you're on classic by default but if you want to upgrade,you go to the firstmonie agent to upgrade your wallet (that's the terminology and not account). The agents are all around you but the surest place to find them is in any firstbank branch. You don't need a firstbank account to have a firstmonie wallet. For those that have a firstbank account,you can synchrinise your firstbank account and your firstmonie wallet to transfer from your account to your wallet and vice versa. We also have designated ATM machines to fund the wallet and they'll be operational before the year runs out hopefully. To fund your wallet, you go to the firstmonie agents,give them cash and they'll convert the cash to e-value and fund your wallet in correlation with your cash. You can also send money to someone who doesn't have a firstmonie account. All you need is the recipent phone number. The person get a coded message which he takes to the agent,the agents decode the message from their server and gives the phone user the cash after presentation of identification. Its safe,cos you don't have to carry cash all around,its convenient cos its funds at your fingertips anytime,anyday,anywhere,even ATM no go pay you 1m in one day. I'm still very much around to respond any other enquiries.
#teamfirstmonie#

1 Like

Re: First Bank 'First Monie' Mobile Money by Abiolabalogun(m): 9:04am On Feb 26, 2013
Gudwil: Dear Esteemed Agent,
You are cordially invited to the
Firstmonie Road show.
Please see the details of this
event below.
Kindly take note of these dates
and prepare to attend in your
Firstmonie branded t-shirts
and face caps. You will be able
to carry out transactions, and
also meet with the Firstmonie
to clarify on all issues on
Firstmonie.
First Monie Road Show
LOCATION: Lagos
DATE: 26th February - 11th
March 2013
DAY
DATE
LOCATION
1ST VENUE
2ND VENUE
ACTIVITY
Tuesday
26/2/2013
Lagos
Okearin Market
Sura Market
Road Show Activation
Wednesday
27/2/2013
Lagos
Ojuwoye Market
Daleko Market
Road Show Activation
Thursday
28/2/2013
Lagos
Ketu Market
Mile 12
Road Show Activation
Friday
1/3/2013
Lagos
Agege Market
Abattoir Market
Road Show Activation
Saturday
2/3/2013
Lagos
Alade Market
Retail Market Ogba
Road Show Activation
Sunday
3/3/2013
Lagos
Rest
Rest
Rest
Monday
4/3/2013
Lagos
Oshodi Market
Mosafejo Market
Road Show Activation
Tuesday
5/3/2013
Lagos
Aswani Market
Ireakari Market
Road Show Activation
Wednesday
6/3/2013
Lagos
Obada Market
Balogun Market
Road Show Activation
Thursday
7/3/2013
Lagos
Ayobo Market
Ipaja Market
Road Show Activation
Friday
7/3/2013
Lagos
Sabo Market
Agric Market
Road Show Activation
Saturday
8/3/2013
Lagos
Dopemu Market
Olugbede Market
Road Show Activation
Sunday
9/3/2013
Lagos
Rest
Rest
Rest
Monday
10/3/2013
Lagos
Ikeja Local Government Front
Ipodo Market
Road Show Activation
Pls is d show meant 4 only pple in lagos because i registered mine at ibadan bt haven't recieved any confirmation 4rm first bank.PLS HELP BRO

1 Like

Re: First Bank 'First Monie' Mobile Money by jpphilips(m): 9:28am On Feb 26, 2013
mfm04622:
Nigerians and free services mentality. You want quality services but want it free. There is no free lunch anywhere, if you get it free, someone is subsidising you. I hope you know the bandwidths banks need for the internet banking service to work is not free, nor the interconnection services when you need to transfer funds to other banks. You are crying about 105 Naira, haba!!! If you want to take transport to and fro a bank won't you spend more than that?



And you are one of the beneficiaries of Freedom of speech? and you deserve to have an opinion?

so you read everything i ve written so far and you think this is about 105naira. i don't really expect you to be smart but sometimes when some issues are way beyond your IQ, you keep quiet to save yourself some embarrassments.

it may be 105naira and 150naira to you but to me it translates to a very huge amount in the long run, i dont expect you to have the IQ to figure it out.

you think you are rich enough to afford anything your bank doles out to you? this is a true test of financial recklessness, you just proved that you don't have the A,B,C knowledge of making money.

let me tell you a quick story as a reminder,

before gani fahewehimi passed on, he took the federal government to court on more than 18 occasions on policies he believed were anti masses, was he the only Nigerian affected by those policies? was he the poorest or jobless lawyer in Lagos? less than a decade on, we now have come to the reality how well the other citizens who went sleeping fared.

just two weeks ago, a 79 year old man took to the streets to protest the smuggling in of an excess 0f 2billion naira into the 2013 budget at the behest of the first lady, at that age do you think you are better than wole soyinka? do you think you are more accomplished than wole soyinka? do you think the money will be paid into his account? and lastly do you think he is the poorest in this country?

let me give you a clue, the Nobel price as at 2007 was worth 1.5million usd, this price money in its equivalent was won by wole as back as 1986, do the maths on return on investments from that time till date, muddle it up with the fact that he is an accomplished writer who have sold priceless literature. can you qualify that kinda man as being poor?

young man, the reason i presented these facts before you is to give you a little awareness beyond your poverty ideology, i may not be able to convince you why people stand up to oppression because i have no doubt in my mind that you lack the mental capacity to handle it.

about the internet bandwidth you alleged, it is a lame argument but coming from you, i am not surprised, FBN is maintaining the same internet infrastructure of 2012 in 2013 and within the year ended raked in 54.12 billion in profits alone, how does the same internet infrastructure justify the 150% increment?

talking about internet, are you aware that some people before now had little or no need for the internet save for this cashless policy, a daily 10mb on a smart phone is enough to check your emails daily for most people,
do you chose to forget that the bank's internet infrastructure is useless without the customer's infrastructure?

do you think that before now those services were free? i want you to justify the increment not dance in circles.

poverty is a state and only you can decide whether or not to stay in it as for me, i refuse to accept a 150% increment on a service charge without provocation.

3 Likes

Re: First Bank 'First Monie' Mobile Money by Rooneyboy(m): 10:40am On Feb 26, 2013
Abeg Mr JP Philips abi wetin u call urself , no dey mess this thread up with ur lengthy comments, I take God beg u,

If u feel like airing ur grievances go to the bank's head office and make ur complaints.

1 Like

Re: First Bank 'First Monie' Mobile Money by jpphilips(m): 10:50am On Feb 26, 2013
Rooneyboy: Abeg Mr JP Philips abi wetin u call urself , no dey mess this thread up with ur lengthy comments, I take God beg u,

If u feel like airing ur grievances go to the bank's head office and make ur complaints.



thank your stars im in a good mood today
Re: First Bank 'First Monie' Mobile Money by Gudwil: 11:14am On Feb 26, 2013
Abiola_balogun: Pls is d show meant 4 only pple in lagos because i registered mine at ibadan bt haven't recieved any confirmation 4rm first bank.PLS HELP BRO

I'm also in Ogun state and it is also not possible for to join them because i'm busy with some other thing. I've applied since december, it was just last week saturday they activated my mobile money. Go to the bank where you registered to lay your complaint, that was what i did at my end here.
Re: First Bank 'First Monie' Mobile Money by Rexyl(m): 11:43am On Feb 26, 2013
Gudwil:

Your phone number will be your account number, you don't have to own a bank account. I'm an agent of FirstMonie.

It is now so nice having an agent in the house. Pls I would like that you describe your experience so far in terms of efforts put in place and the benefits accrued, and the agent category you belong. I would like to know if it is a biz worth doing , and not some labour at the expense of an agent to the gains of the bank. Thanks.
Re: First Bank 'First Monie' Mobile Money by Kayman3(m): 12:39pm On Feb 26, 2013
Rexphobia:

I will like to ask you few questions

1. Does any bank charge below 5 per mille as COT?
2. Where does VAT go to?
3. Is there any charge on email alerts ?
4. Have you done an industry analysis to compare transfer charge via online...let's say how much does gtb charge for transfers?
5. Don't you think your analysis is one sided? Kindly provide a comparative analysis.

Que 4
Anyway, I have not done comprehensive analysis on all bank but i do transact with GTB and Firstbank

The sms rate of firstbank monthly is higher than that of GTB with respect to my numbers of transaction with the two banks
I was 3K for GTB token and 2K for firstbank.. But firstbank Charge me #105 per transaction to other bank(When it is less than 500k)
while GTB do charge me #0 for my transfer to other bank.
Re: First Bank 'First Monie' Mobile Money by hayoakins(m): 1:15pm On Feb 26, 2013
Kay_man:

Que 4
Anyway, I have not done comprehensive analysis on all bank but i do transact with GTB and Firstbank

The sms rate of firstbank monthly is higher than that of GTB with respect to my numbers of transaction with the two banks
I was 3K for GTB token and 2K for firstbank.. But firstbank Charge me #105 per transaction to other bank(When it is less than 500k)
while GTB do charge me #0 for my transfer to other bank.

#0? Father forgive him for he know not what he is saying cheesy....i use GTB bro and FBN too dude.....you can call GTB help centre to confirm smiley
Re: First Bank 'First Monie' Mobile Money by jpphilips(m): 1:25pm On Feb 26, 2013
Kay_man:

Que 4
Anyway, I have not done comprehensive analysis on all bank but i do transact with GTB and Firstbank

The sms rate of firstbank monthly is higher than that of GTB with respect to my numbers of transaction with the two banks
I was 3K for GTB token and 2K for firstbank.. But firstbank Charge me #105 per transaction to other bank(When it is less than 500k)
while GTB do charge me #0 for my transfer to other bank.


you could have ignored those people who wish to compare sand with Gar!
Re: First Bank 'First Monie' Mobile Money by jpphilips(m): 1:30pm On Feb 26, 2013
hayoakins:

#0? Father forgive him for he know not what he is saying cheesy....i use GTB bro and FBN too dude.....you can call GTB help centre to confirm smiley


please post the notice GTB sent you about their increment because right now, i ve not noticed that much on GTB transfers.
i really need to avoid all these dubious banks, i cant be working and making money for them.

i ask incase i didnt get their notice please post yours

thanks
Re: First Bank 'First Monie' Mobile Money by Nobody: 2:31pm On Feb 26, 2013
Abiola_balogun: To register just go to any first bank branch and request 4 first monie agent form dey will tell u d requirement cos dey hav lik 3 agent categories bt it depend on ur choice.
what could be there likely requirement ? Coz i don't have shops.
Re: First Bank 'First Monie' Mobile Money by Abiolabalogun(m): 2:35pm On Feb 26, 2013
Gudwil:

I'm also in Ogun state and it is also not possible for to join them because i'm busy with some other thing. I've applied since december, it was just last week saturday they activated my mobile money. Go to the bank where you registered to lay your complaint, that was what i did at my end here.
Tanx bro am very greatful 4 dis info, pls hav u pay ur 30k capital b4 dey activate d acct 4 u.Pls i need ur reply asap.
Re: First Bank 'First Monie' Mobile Money by Abiolabalogun(m): 2:38pm On Feb 26, 2013
sam4xadams:
what could be there likely requirement ? Coz i don't have shops.
The requirement is in page 1 cos dey hav 3 categories
Re: First Bank 'First Monie' Mobile Money by Gudwil: 4:52pm On Feb 26, 2013
Rexyl:

It is now so nice having an agent in the house. Pls I would like that you describe your experience so far in terms of efforts put in place and the benefits accrued, and the agent category you belong. I would like to know if it is a biz worth doing , and not some labour at the expense of an agent to the gains of the bank. Thanks.

I'm a classic agent (will upgrade later). I am barely a week old in the biz but (praise be to God) i have read wide about it (kenya, somalia, uganda, afghanistan, etc). I have about 20 pdf materials on it. You can do beta than me when you google "mobile money in ...(country). You will discover so many things about the biz (those one we have not reached in naija.)
It is beta if one has an existing biz that brings alot of people to one's shop/office.
The expense is almost zero. Even if you an existing customer of FirstBank, you will still be required to open another account that is going to be linked to your mobile wallet. The capital is still yours, you pull out of the biz at anytime you like.
Re: First Bank 'First Monie' Mobile Money by Gudwil: 5:09pm On Feb 26, 2013
Abiola_balogun: Tanx bro am very greatful 4 dis info, pls hav u pay ur 30k capital b4 dey activate d acct 4 u.Pls i need ur reply asap.


I deposited my 30K immediately I opened the account last year but My mobile wallet was linked to the account last Friday. If you have your own now, go and deposit it because that will show that you're ready for the biz.
Re: First Bank 'First Monie' Mobile Money by Abiolabalogun(m): 5:24pm On Feb 26, 2013
Gudwil:


I deposited my 30K immediately I opened the account last year but My mobile wallet was linked to the account last Friday. If you have your own now, go and deposit it because that will show that you're ready for the biz.
Tanx bro, hav u collected ur kit nd when ar u goin 2 start workin
Re: First Bank 'First Monie' Mobile Money by Gudwil: 6:22pm On Feb 26, 2013
Abiola_balogun: Tanx bro, hav u collected ur kit nd when ar u goin 2 start workin

i got the crested T-shirt and cap when they organised training for us in Abeokuta. I wouldn't know whether it has been held in Ibadan. I'm still doin it on a part-time basis.
Re: First Bank 'First Monie' Mobile Money by HAH: 6:31pm On Feb 26, 2013
Gudwil:

Your phone number will be your account number, you don't have to own a bank account. I'm an agent of FirstMonie.

My brother , yes is possible to have your phone number as account number but certainly deposit most be made somewhere weather you call it account or anything

1 Like

Re: First Bank 'First Monie' Mobile Money by segunobe(m): 6:27am On Feb 27, 2013
Gudwil:

no interview is involved for. There is going to be road shows starting tomorrow, 26th Feb, across the cities of Lagos for 3wks.


Are you with exp? I'm surprised you know so much.

1 Like

Re: First Bank 'First Monie' Mobile Money by Abiolabalogun(m): 6:55am On Feb 27, 2013
Gudwil:

i got the crested T-shirt and cap when they organised training for us in Abeokuta. I wouldn't know whether it has been held in Ibadan. I'm still doin it on a part-time basis.
.Tanx bro i will get bck to u if am true wit dem.
Re: First Bank 'First Monie' Mobile Money by Gudwil: 10:40pm On Feb 27, 2013
HAH:

My brother , yes is possible to have your phone number as account number but certainly deposit most be made somewhere weather you call it account or anything


yes you are very correct. If you have an agent in your neighbourhood, you go to him to make deposit (cash-in). You will give him cash, then he will give you the equivalent amount of e-money into your mobile wallet. You can do both cash-in and cash-out at the neighbourhood agent. I hope this makes it clear now bro.
Re: First Bank 'First Monie' Mobile Money by Gudwil: 3:33am On Feb 28, 2013
segun-obe:



Are you with exp? I'm surprised you know so much.


i'm an agent, and FirstMonie sends updates through email.
Re: First Bank 'First Monie' Mobile Money by Gudwil: 7:49am On Feb 28, 2013
If you like, you can follow this topic "Mobile Money Business Opportunities: Lets Discuss" on this site. It's a professional thread sha, you will be dumb-founded by the time you finish reading the comments there.
Re: First Bank 'First Monie' Mobile Money by HAH: 4:24pm On Mar 01, 2013
Gudwil:


yes you are very correct. If you have an agent in your neighbourhood, you go to him to make deposit (cash-in). You will give him cash, then he will give you the equivalent amount of e-money into your mobile wallet. You can do both cash-in and cash-out at the neighbourhood agent. I hope this makes it clear now bro.

My brother thanks for your response, to be frank you have made me to try this mobile money, I will give it a try, keep the good work and be focused. Cheers
Re: First Bank 'First Monie' Mobile Money by Gudwil: 10:02pm On Mar 24, 2013
Is there anyone who has started to operate as a firstmonie agent? I want us to share some ideas.
Re: First Bank 'First Monie' Mobile Money by Rexyl(m): 11:27am On Apr 10, 2013
If guys have got a good deal with the service how are the experiences so far?
Re: First Bank 'First Monie' Mobile Money by Abatsam111(m): 9:45am On Oct 30, 2013
pls how can i save money through my phone on first monie,coz i dnt have a bnk accountpls

(1) (2) (3) (4) (5) (6) (Reply)

How You Can Make Up To 500k Every Month On Fiverr With $10 / SCAM ALERT: Theobarth grant disbursement / Truexgold Nairaland Customer Support

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 75
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.