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Nairaland Forum / Nairaland / General / Business / COT Charges (4613 Views)
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COT Charges by Nobody: 7:13pm On Oct 02, 2014 |
Hello all fellow nairalanders,pls permit me to post this here,if this is the appropriate section Please i want to know the % being charged as C.O.T for a corporate account in gtbank because what i am being charged as C.O.T is so much and looks funny. I really want to know before going to the bank to table my complain. Thanks for the views and response. Regards, Samuel. |
Re: COT Charges by Nobody: 8:06pm On Oct 02, 2014 |
19views and no response. |
Re: COT Charges by Nobody: 9:29am On Oct 03, 2014 |
52 views and yet no response. |
Re: COT Charges by Zector(m): 1:39pm On Oct 03, 2014 |
#3 and 5% vat on the amount of cot deducted |
Re: COT Charges by Nobody: 3:35pm On Oct 03, 2014 |
Zector: #3 and 5% vat on the amount of cot deducted thanks, i will cross check with the said amount. |
Re: COT Charges by Nobody: 1:21pm On Oct 05, 2014 |
Zector: i have checked and from my calculation it is 0.5%. Regards, Samuel |
Re: COT Charges by maduka001(m): 7:54am On Oct 06, 2014 |
segzy14:For commercial banks in Nigeria, a COT of N2 is charged on every N1000 that is drawn from a current/corporate account. Apart from the COT, VAT of 5% is also charged on the COT. Any aside the afore mentioned should be taken up with the bank |
Re: COT Charges by Nobody: 7:57am On Oct 06, 2014 |
maduka001: are you serious? are you sure? |
Re: COT Charges by sholatech(m): 9:21am On Oct 07, 2014 |
Sure, feel free to contact your bank if the calculation seems inappropriate. Divide total debits for the month(total withdrawals) by 1000 and multiply what you get by 3. Then compare with the figure on your statement for COT. The VAT calculation is always a different figure stated seperately in the bank statement |
Re: COT Charges by Nobody: 11:20am On Oct 07, 2014 |
sholatech: i will do the calculation and give feedback here. thanks @ all. Regards, Samuel |
Re: COT Charges by Nobody: 1:17pm On Oct 07, 2014 |
sholatech: thanks, i just did it and got the exact figure that was deducted from my account. thanks all. Regards, Samuel |
Re: COT Charges by chiboy11(m): 4:05pm On Oct 07, 2014 |
D reason I stop using GTBankis cuse dey charge 3N per each 1000 n VAT stil, its so much while bank like diamond bank s free,n stil dey can't help u our in ur busines so wats d ned maduka001: |
Re: COT Charges by Nobody: 5:05pm On Oct 07, 2014 |
chiboy11: are you serious cos i am thinking of porting to diamond bank. |
Re: COT Charges by dorthmaen: 5:09am On May 28, 2015 |
Diamond bank is not free;they Av a fixed amount they deduct every month Instead of the COT. |
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