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Nairaland Forum / Nairaland / General / Business / Banks Start Penalizing Customers Who Withdraw "Excess" Cash (29523 Views)
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Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by bennieman: 5:48am On Jul 15, 2015 |
deltateam: Your comment shows your level of maturity and lack of information. Who says you need cash to do all that you mentioned? What you really need is money( value) and not necessarily cash. For instance, I paid N2mm for the last car I bought and the seller was a hausa dealer. Did I withdraw cash? No. Rather, he gave me his account number and I did a transfer into his account there and then. There are many risks and disadvantages associated with handling excess cash from both the view of the banks and customers alike viz theft, cost of processing cash, cost of moving cash etc. |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by lastpage: 5:50am On Jul 15, 2015 |
Thats why it is good to spread you rmoney around in at least five banks. #500,000 x 5 in aday is #2.5Million, enough to settle my wahala on a daily basis. Banks nor get sense, dem just dey form smart! Lastpage! |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by gabbytabby: 6:39am On Jul 15, 2015 |
While this is understandable for withdrawals it makes no sense for deposits. |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by Eyop: 6:40am On Jul 15, 2015 |
lastpage: And if you get 5 corporate accounts, #3,000,000 x 5 in a day is #15,000,000. Enough to over settle your wahala on a daily basis. Them no get sense @ all oh |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by Eyop: 6:41am On Jul 15, 2015 |
gabbytabby: No one is charging for deposits. 1 Like |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by creepsyme(f): 6:48am On Jul 15, 2015 |
Adesiji77:but dis has been on since. only charges on cash deposit was lifted. every cash withdral in excess of 500 2% charges is taken for the excess. |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by juliustip(m): 6:49am On Jul 15, 2015 |
ZUBY77: You mean 20,000 on top attracted N600 charges and you think it's not much? That's 3% man. N'na that is capitaLLL (in Igbo man voice) Instead I will utilize my internet banking or the smart trick to escape the charges. Only the smart will know what I mean. That's if its a must you collect cash. |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by gabbytabby: 6:50am On Jul 15, 2015 |
deltateam:You can pay into the peoples bank account even omonile gets paid through their bank account. Its the deposit bit that I do not understand. It leads to u necessary repeated visits to the bank. |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by Josco24685(m): 7:08am On Jul 15, 2015 |
It now time where i will do like d dem politicians who keep cash in their houses. To hell with cbn for dat nonsense. I trust nigerians we always no our way out of rubbish. |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by SegunAdewole: 7:24am On Jul 15, 2015 |
This will discourage many unbanked Nigerians. Since i will have to pay more to take my own money then i say "to hell with Nigerian banks". I will close all my bank accounts, build an underground safe in my house and keep all my money. |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by Adesiji77: 7:32am On Jul 15, 2015 |
creepsyme: Only in 6 states and FCT. Implementation was deferred in 30 states until July 1 2015 |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by gabbytabby: 7:37am On Jul 15, 2015 |
Eyop: I hope not just that the story says deposits were initially deferred but will now be affected. |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by vickylinco(m): 7:49am On Jul 15, 2015 |
Neduzze5:where is your house? |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by Neduzze5(m): 8:02am On Jul 15, 2015 |
vickylinco: Even if ah tell you my house, you no go even get mind come there sef. I've 10 lions, 27 tigers and 43 Rottweiler dogs on standby |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by FBS: 8:23am On Jul 15, 2015 |
Amaka but why? Why should a client be penalised for withdrawing his/her very own cash? I really don't get it. |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by Sureboy15: 8:47am On Jul 15, 2015 |
The CBN should be thinking of how 2 reduce the value of forign currency with their polcy thereby patronizing the local currency so as to balance the economy and indirectly reduce money lundary and the rate of nigerians opening forign account. This Indirect way of extorting money from customers will not contribute to economic growth TAKE NOTE |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by viktor01(m): 10:23am On Jul 15, 2015 |
Banks.! Creating money out of nothing.. Dey wil neva hint u dat d economy is crashing. |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by omnikether: 10:55am On Jul 15, 2015 |
Banks. We made you rich by doing you the courtesy of putting our hard-earned money in your safes. You use our money to do business, profit from said business and still charge us for making you rich. It is well. |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by Nobody: 11:37am On Jul 15, 2015 |
E no concern me |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by Nobody: 12:42pm On Jul 15, 2015 |
Adesiji77: So to withdraw my own money how and when I like is now an offense? This current CBN guv should be removed. |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by Adesiji77: 1:13pm On Jul 15, 2015 |
parkeration: You are being encouraged to use electronic channels for transactions that are above the threshold. |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by delishpot: 2:33pm On Jul 15, 2015 |
Shuo, so one is forced into this cashless ish? So to withdraw yoi own savings again, they will charge you? Odiegwu. |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by vickylinco(m): 3:14pm On Jul 15, 2015 |
Neduzze5:wao!!! your house na zoo? I will be delighted to visit them... lol |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by 400billionman: 8:47am On Jul 16, 2015 |
The cash limits are okay at N500k individual and N3m corporate. Sanusi once made it N150k individual, N1m corporate which vexed me that time. |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by natureblack(m): 8:17am On Jul 18, 2015 |
immortalvoices:Laundering. You're welcome buddy. |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by immortalvoices(m): 8:38am On Jul 18, 2015 |
natureblack:Lol always had my doubt... Thanks a million |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by natureblack(m): 9:49am On Jul 18, 2015 |
immortalvoices:No pain bro.I know you'd do the same for me. Sometimes,we just can't overcome the amazing powers of homonym,homograph or homophone.These word set can be confusing,even for word geeks |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by immortalvoices(m): 10:58am On Jul 18, 2015 |
natureblack:You are a true friend.. |
Re: Banks Start Penalizing Customers Who Withdraw "Excess" Cash by unmask: 8:57am On Jul 20, 2015 |
deltateam:and you the adult.....tell me why such people can't do a transfer or why car dealers can't get a POS for their transactions......I guess you are too old so retrogression is your main stay |
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