VLadipo:
Hello all,

I first got the alerts in early March. I was debited a total of NGN105.00 for withdrawal fee on my SAVINGS account.

Confused, I went to my branch to complain. From time immemorial, we have always known (and were even taught in school) that savings account do yield monthly interests if you do not withdraw more than once from the account within a month.
Hence, I was surprised to get this explanation from the customer service person I met that I was charged withdrawal fee because I withdrew more than once from my savings account. The normal thing should be no interest for that month.
She further explained that the directive was from CBN and that deliberations were still ongoing on whether the policy should hold. She promised that a reversal of the deduction could take place.

Now, just some moments ago, I got 2 alerts indicating that I have been debited a total of NGN105.00 as withdrawal fee for the month of March.
This is in addition to the senseless,unrealistic charges debited from my account as payment for SMS alert every month.

Now, isnt that crazy?

Guys, please can you relate to all these as regards your savings account in your respective banks?

What do I do temporarily while I think of leaving Firstbank for good?

The charges on my savings account have become unbearable and disgusting.

Thank you.

Regards,
VLadipo.

Bros, you forgot VAT on said withdrawal fee..

VLadipo:
Hello all,

I first got the alerts in early March. I was debited a total of NGN105.00 for withdrawal fee on my SAVINGS account.

Confused, I went to my branch to complain. From time immemorial, we have always known (and were even taught in school) that savings account do yield monthly interests if you do not withdraw more than once from the account within a month.
Hence, I was surprised to get this explanation from the customer service person I met that I was charged withdrawal fee because I withdrew more than once from my savings account. The normal thing should be no interest for that month.
She further explained that the directive was from CBN and that deliberations were still ongoing on whether the policy should hold. She promised that a reversal of the deduction could take place.

Now, just some moments ago, I got 2 alerts indicating that I have been debited a total of NGN105.00 as withdrawal fee for the month of March.
This is in addition to the senseless,unrealistic charges debited from my account as payment for SMS alert every month.

Now, isnt that crazy?

Guys, please can you relate to all these as regards your savings account in your respective banks?

What do I do temporarily while I think of leaving Firstbank for good?

The charges on my savings account have become unbearable and disgusting.

Thank you.

Regards,
VLadipo.

I know the root of ur problem. You still trust the banks. Diamond bank Owerri has been doing dat for decades. When u complain they as u to put it in writing with promises to get to u later and that's it. Learn to invest and don't leave much for them to draw. They are all distressed perhaps more than u and I.

LOL, so some people still believe in saving account interest.

Their is noting like saving account anymore, if you don't withdraw your money, the bank will help you withdraw the money through their charges.

That best why to save your money, is investing in funds that will protect the capital and add interests.

Close ur acct or withdraw all ur money n go open in anoda bank wit lesser charges. Nigerians like 2 complain n not act. Tnk God I neva open acct wit dem cos I was considering.

VLadipo:
Hello all,

I first got the alerts in early March. I was debited a total of NGN105.00 for withdrawal fee on my SAVINGS account.

Confused, I went to my branch to complain. From time immemorial, we have always known (and were even taught in school) that savings account do yield monthly interests if you do not withdraw more than once from the account within a month.
Hence, I was surprised to get this explanation from the customer service person I met that I was charged withdrawal fee because I withdrew more than once from my savings account. The normal thing should be no interest for that month.
She further explained that the directive was from CBN and that deliberations were still ongoing on whether the policy should hold. She promised that a reversal of the deduction could take place.

Now, just some moments ago, I got 2 alerts indicating that I have been debited a total of NGN105.00 as withdrawal fee for the month of March.
This is in addition to the senseless,unrealistic charges debited from my account as payment for SMS alert every month.

Now, isnt that crazy?

Guys, please can you relate to all these as regards your savings account in your respective banks?

What do I do temporarily while I think of leaving Firstbank for good?

The charges on my savings account have become unbearable and disgusting.

Thank you.

Regards,
VLadipo.

All of you guys lamenting here, you are few tweets away from solution. Get their twitter handles. Tweet at them severally and copy CBN, and other prominent Nigerians like CBN governor, and other prominent Nigerians. That's called international embarrassment. I did same with MTN last week, my 2k was refunded within hours of tweeting after several days of begging customer care agents

I woke up from sleep this morning,only for me to see to sms alert from firstbank.I was like wow i knw this must b a credit alert but i was shocked wen i saw 2 debit alerts 1 for VAT on Admin Fee while d other is for Admin Fee.I called d bank manager straight away but his reply shocked me.That there is nothing wrong with d charges can u imagine I woke up from sleep this morning,only for me to see to sms alert from firstbank.I was like wow i knw this must b a credit alert but i was shocked wen i saw 2 debit alerts 1 for VAT on Admin Fee while d other is for Admin Fee.I called d bank manager straight away but his reply shocked me.That there is nothing wrong with d charges can u imagine

Honestly am of First Bank Nigeria

The other day, someone organised a no banking day to protest against banks cheating their customers, people boycotted it. Now you are all crying foul here. When you learn to stand up and fight for your right, things will be way lot better.

A close relation was complaining bitterly about this a couple of days ago for accounts resident in Firstbank and Ecobank.
My advice to the person was: move your funds and close the accounts, and report the Banks to CBN.
Over the years, I have developed the policy of swiftly discontinuing my patronage of entities that do not add value to my "interests" and/or are dubious.
I think this matter requires a twitter hashtag and a social media campaign.
Customers should not be stolen from by banks, after they have danced makossa with their capital. I wonder what CBN is doing. Banking in Nigeria is fast becoming opaque.
Folks bring their money to the banks for safe keeping and then banks develop strategies to rob them of their funds.
With this trend, why should the "unbanked" consider ever dealing with our banks.

I had this same problem last month and got it resolved. I sent mail to firstcontact, complaints departmemt of firstbank and copied CBN with attached CBN Revised guide to bank charges of 2013 circular. Firstbank apologized and refunded the supposed monthly fee which constitute wrongful deduction. My account is savings.

pdozie:

How To Report Your Bank To Central Bank Of Nigeria CBN

If your bank has treated you or offered you services that you find below par, your right to complain to the Central Bank of Nigeria (CBN) which is the regulatory body of Financial Institutions in Nigeria such as Commercial Banks, Microfinance Banks, Primary Mortgage Institutions and Discount Houses.

The Central Bank of Nigeria (CBN) has released guidelines for the filing of such complaints.

Contact Your Institution First

According to The Central Bank of Nigeria (CBN) circular issued in 2011, banks are to expand their existing ATM HELP DESK to handle all types of consumer complaints.

You MUST first report the complaint at the bank/branch where the issue originated and then allow 2 weeks (it might be less in some banks) for the issue to be resolved.

If Your Bank Fails To Resolve Your Complain

If after lodging your complaint your Bank still fails to engage you and resolve the complaint within 2 Weeks as provided for in the ATM HELP DESK Circular, you can then forward your complaint to the Consumer Protection Department (CPD) of the CBN.

Complaints to Consumer Protection Department

You should only forward your Complaints to CPD upon the failure of your Bank/Financial Institution to resolve your complaint within the 2 weeks timeline given by the CBN.

Contacting Consumer Protection Department

You can contact the CPD through the following channels:
E-mail: cpd@cbn.gov.ng
Letter: Director, Consumer Protection Department
Central Business District, Abuja

Your letter of Complaint should be addressed to the Director, Consumer Protection Department. You can submit your letter at the CBN Head Office OR at any of the Central Bank of Nigeria branches of nationwide.

Does the CPD Deal with all Types of Complaints?
The CBN deals with all financial related complaints so far as it is against Financial Institutions within its regulatory purview. How to Write an Effective Complaints Letter


Your complaint should be clear and concise to avoid ambiguity. The Complaint letter (petition) should contain amongst other things the following:
• Name, Address, Contact Phone Number & E-mail of the Complainant;
• Name of your Financial Institution;
• Personal banking details (Do NOT include PIN & Passwords, please
• History/Date of the transaction in dispute;
• Amount claimed (if any);
• Attach relevant documents to support you claim and;
• Evidence to show that you have first lodged the complaint at your bank.

You can make your further inquiries and obtain additional information on the Complaints Handling Process of the Central Bank of Nigeria from the Complaints Unit of your Bank/Financial Institution or from CBN offices nationwide.

CBN for now is helpless and have bigger headaches than attending to our complaints of illegal bank charges. The CBN is losing it's grips on commercial banks expecially the big ones. Our economy is gradually decending to anarchy where the rule is: Survival of the fittest. The banks CEO are franglantly daring the CBN to sanction them. The reality is that most banks are critically sick ......and the bubble will soon bust!

Same here! Those tif deduct my money every month despite not saving a dime into the account? The little i have there, they are still removing it

First Bank, i hail una tifness

FCMB DEDUCTED MY 1005 NAIRA.

AV NEVER WITHDRAW FROM IT OR TRANSFER MOney

On Tuesday,i was debited #198.69 for withdrawal Fee also on the same day i was debited #9.93 for vat on withdrawal. This First bank wants someone to go bankrupt on top savings acct.Please which bank do you think is good out there to have acct with,seems i wanna leave first bank.I don't wanna go bankrupt on top my money.

Their charges are just too irritating. They charged me Admin fees two days ago. Whatever that is,I don't know.
And they don't give interest. Only charges charges charges and charges. Smh

Dotwillis1:
the alert fee is quite different. This stupid first bank will deduct 100 for like 3times and say Admin fee.... abeg which one is admin fee again

4 naira per alert no make sense o. Whether na debit credit even unknown sef join.

infogenius:
I got the same rubbish alert on Monday.
My account was heavily debited.
I went to the nearest first Bank to complain.

I was told to send my complaints to complaints@firstbanknigeria.com
The funny thing I was told is that we may soon be charged deposit fee.

I am sure with the government policies in place we will paying "appearance fee" when you enter the banking Hall and "hospitality fee" when you sit or queue in the banking Hall.

This trend is hurtful and more like stealing from customers just because they have access to our cash.

If time is not taken I will simply close that account.

I have been going through same. I went into my branch last week and asked to close my account, the guy told me they will deduct some money. When I raised my voice the guy recanted, and then sent me to another woman who started to find reasons why I should reconsider my decision. I have withdrawn every kobo above the minimum deposit, let them start removing the deposit if they like.
Truth is, First Bank is so full they have become bloated and proud!!!
Walk in and ask to close the account, Period!

I have also received an alert from First Bank Nig Plc debiting my savings account with the sum of N105 which i still have no clue about and why. This CBN policy or whatever is really becoming unbearable.

VLadipo:
Hello all,

I first got the alerts in early March. I was debited a total of NGN105.00 for withdrawal fee on my SAVINGS account.

Confused, I went to my branch to complain. From time immemorial, we have always known (and were even taught in school) that savings account do yield monthly interests if you do not withdraw more than once from the account within a month.
Hence, I was surprised to get this explanation from the customer service person I met that I was charged withdrawal fee because I withdrew more than once from my savings account. The normal thing should be no interest for that month.
She further explained that the directive was from CBN and that deliberations were still ongoing on whether the policy should hold. She promised that a reversal of the deduction could take place.

Now, just some moments ago, I got 2 alerts indicating that I have been debited a total of NGN105.00 as withdrawal fee for the month of March.
This is in addition to the senseless,unrealistic charges debited from my account as payment for SMS alert every month.

Now, isnt that crazy?

Guys, please can you relate to all these as regards your savings account in your respective banks?

What do I do temporarily while I think of leaving Firstbank for good?

The charges on my savings account have become unbearable and disgusting.

Thank you.

Regards,
VLadipo.

Did u make interbank Transfer without been charge? because some this customer service personnel might not know what went wrong. I just hope it doesn't happen to me. I'm still upset not been able to update my account to regular savings, telling me to go where I opened the account, in this technology age.

Rhayour:




You need to reconfirm this because I got an sms from Ecobank recently stating that all charges on savings account has stopped.

This is true. I had the same issues with my WEMA bank account. They debited me N100 access fee which made me very mad cos they don't send alerts for that debit. However, in Feb, they reversed 6 months access fee debit.

Laughing in hindu

Very simple. send a mail to Firstbank and copy CBN in the mail and your issue will be resolved fast.
It will be very remiss of me not to tell you this. It has worked for me and several people i know.
So go to your system and do a mail to them.

spacyzuma:
I've observed the same thing with GTB whenever I do bank transfers.

It started this year.

All banks charge transfer fee. GTB to GTB is free. GTB to other banks is N100 + 10% VAT.

I has been like that since forever.

9jaOfficial:
I just received a similar debit alert of 4,438 Naira for "Withdrawal Fee" in my savings account with First Bank. I have other saving account with other banks that I run actively too, but no such charges. Isn't this a big fraud from First Bank? Pls drop ur comments!!!

Why note not edit the picture and erase your account balance and names of people your transfer to... James and Praise will not be happy if they see this.

It is only in Nigeria that people do not want to pay for services rendered.

Yet you want to get to a bank and be rest assured their Acs are properly chilling.
You want the tellers to smile at you whether or not they are paid salaries.
You want your money to be safe and be readily accessible when you want it.
You want their toilets to be sparkling clean and the cleaners must use the best of airfreshners.
You even want the option of charging your phones and power banks.

But you don't want to pay any bank charge.

I am totally against high bank charges but that we should not pay for any service rendered by financial institution is what i am against.

Same way you cannot walk into any barbing saloon and demand a free haircut because your hair is full and you're a nigerian is the same way you should not demand free banking services because these people run businesses and all have high operating expenses.

Banks should charge, but the charges should be reasonable and in line with CBN directives.

The same FBN debited my Saving account to the tune of N105 for admin and VAT. I wonder o. What Admin charge

Yours is even better, Ecobank charge my savings acc monthly even when i didn't withdraw.

I thought I am the only one been charged monthly fee, in Feb. I hala them and ask them what section of BOFIA state that, they should charge fee on savings, I was acting like one legal professional but they sound like deaf. My next step is to stop saving in bank, since there is no money to even save.

My problem with Nigeria banks they don't initial and partner with government, individuals and private companies to create business or project that will fetch them returns. The only thing they know is Just to be buying suit and big cars, going to local joints and be eating bush meats and having calabash tommy.

All the skyscrappers, trains, buses been operated in developed countries are partnership owned by financial institutions, companies, individuals and government, developed with public funds saved in the banks and they are been paid interest. This our country is full of wicked people, that's why we can't move forward, just moving like crap.

9jaOfficial:
I just called FIRST Bank Call Centre. They say it's not a CBN Policy but a new Policy from First Bank Mgt. This took effect March 2016. They now charge a sum of 1 Naira per 1000 Naira on all forms of transfers either on counter via Internet banking or Mobile banking or ATM transfers and other forms of bank transfers on all savings accounts.
This is a very inconsiderate policy by FBN to all their customers.

This is very wrong of first bank taking evil satanic laws because they want to pay their staff and directors jumbo salaries. This will sure lead to huge loss of savings deposit to them.

This is pathetic. it is one of the impunity and lawlessness in d country. the chairmen of banks now control both the cbn and d economy, worse is they are above the law. FIRST BANK is worse.

Sorry this may be long but bear wt me as i did my research and found out the first bank action is a big fraud, breach of agreement and impunity that can take place in a country where companies never care about its action because like i said ealier they are above d law.

Imagine charging a savings acct 50K plus as Account mtce fee (AMF) and additional #105 monthly fee in Feb. complained to acct officers, firstcontact even bank managers in regional offices (outside lagos) who are as confused as anyone. Initially they all said it was an error that will be reversed. First contact which should know better even wrote that they are iivestigating and it has been escalated.

Visited its head office in Lagos for explanation, the customer care team are also at lost until they referred me to one of d senior men who said it is a new development.

FIRST BANK REASON
After a long merry-go-round. he said
1. Major reason was that with all new banking tech. most BIZ customer now use Savings Account for transactions thereby excaping the AMF.

2. Volume of transactions on the savings accounts is quite quite high............ all other reasons are lugubriously ludicrous.

MY RESPONSE:
After thanking him for his difficult explanation (which from his look, wasn't convinced himself but needed to do his job as it is beyond him).
1. I referred him to their official website opened b4 him and read all the product types to him. The website despite recently updated to capture AMF and other new charges (available to all online) still did not provide any charges for savings and categorically stated Unlimited number of withdrawers.

2. I opened my laptop and showed him a copy of the updated CBN Guild On Charges which is very clear to even a layman. (some bankers dont even know while others claim oblivion). No such charges and even d #1 per #1000 is negotiable if customers are adequately informed.

To spare u of the long stories, after long discussion,
I realised the banks needed more money as TSA, low /inconsistence Dollar policy, amognst many other economy issues.but be it as it may, they need to do it legitimately.
Customers need to be well informed to take appropriate decisions. even as i type, only #100 monthly fee is scrolled at d top of the page for savings account.
We all know current account is for biz. if they are cancelling savings account, they sud say so. Imagine a student who have to manage his monthly stipends with more than 3 withdrawers in a month having to pay extra!

I have already complained officially. Let all complain on CBN and other relevant public complaint portals. Even carryout a mass action.
This is another test of this administration resolve to fight corruption even when many of us are already lossing hope.
Wahala dey oooo. as i was about to submit, just got alert of another 39k charge. this time name changed to WITHDRAWER FEE. yeeepaaa.
straight to FBN to close account. no time for conclusion.

magicfingers009:
It is only in Nigeria that people do not want to pay for services rendered.

Yet you want to get to a bank and be rest assured their Acs are properly chilling.
You want the tellers to smile at you whether or not they are paid salaries.
You want your money to be safe and be readily accessible when you want it.
You want their toilets to be sparkling clean and the cleaners must use the best of airfreshners.
You even want the option of charging your phones and power banks.

But you don't want to pay any bank charge.

I am totally against high bank charges but that we should not pay for any service rendered by financial institution is what i am against.

Same way you cannot walk into any barbing saloon and demand a free haircut because your hair is full and you're a nigerian is the same way you should not demand free banking services because these people run businesses and all have high operating expenses.

Banks should charge, but the charges should be reasonable and in line with CBN directives.

With the above write up one can clearly deduced that you one of them.