Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,150,778 members, 7,810,026 topics. Date: Friday, 26 April 2024 at 06:52 PM

Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month (18431 Views)

Coronavirus: Stanbic IBTC Bank To Operate Skeletal Services / Stanbic IBTC Bank Staff In School Uniforms To Mark Customer Service Week. / Looking For The Best Nigeria Bank For A Domiciliary Account? Read This (2) (3) (4)

(1) (2) (3) (4) (Go Down)

Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by ogododo: 8:27pm On Dec 01, 2016
Esteemed Customer,

Thank you for banking with us.

We write to inform you that foreign transfers from domiciliary accounts on the back of funding through cash deposits is now restricted to a maximum of Ten Thousand Dollars ($10,000) monthly per customer. This adjustment applies to all customers irrespective of the number of accounts operated and will take effect from 01 December, 2016.

However we will continue to accept cash deposits to domiciliary accounts in line with subsistent regulatory guidelines.

For further enquiries on this revision as well as our bouquet of products and services, please call 01 270 9676, email CustomerCareNigeria@stanbicibtc.com or visit the branch nearest to you.

Yours Sincerely,
Stanbic IBTC Bank PLC

UPDATE: Contrary to an earlier post on this website, which implied that the Central bank of Nigeria (CBN) had placed restrictions on the amount owners of domiciliary accounts could withdraw in a month, the apex bank has placed no such restrictions on amounts that can be withdrawn from domiciliary accounts.

Rather the letter as quoted in the previous post represents an internal decision taken by just one commercial bank, rather than a sector-wide instruction from the apex bank.

In addition, the commercial bank involved has explained that the notice to its customers doesn’t stop withdrawals, but rather means that customers running a domiciliary cannot transfer forex if they deposit more than $10,000 in a month.

Nairametrics sincerely apologizes for any inconvenience the previous article may have caused our readers.

http://nairametrics.com/cbn-restricts-foreign-currency-withdrawals-from-domiciliary-accounts-to-10k-per-month/

http://nairametrics.com/cbn-restricts-foreign-currency-withdrawals-from-domiciliary-accounts-to-10k-per-month/
Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by ogododo: 8:43pm On Dec 01, 2016
This is a regulated regime. God please intervene; slowly we are becoming a communist nation.

57 Likes 3 Shares

Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by NATIONALPASTOR: 9:38pm On Dec 01, 2016
Do they mean foreign transfers to dorm account or just withdrawal?
Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by Miles300: 10:10pm On Dec 01, 2016
ogododo:
This is a regulated regime. God please intervene; slowly we are becoming a communist nation.
Hahahaha no be small communist state , jeeeez this is the worst thin to happrn to nigeria ! U can't use ATM abroad to withdraw , now u can't send more than $10000 a month , on top ur business again

42 Likes 3 Shares

Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by ogododo: 6:10am On Dec 02, 2016
Miles300:
Hahahaha no be small communist state , jeeeez this is the worst thin to happrn to nigeria ! U can't use ATM abroad to withdraw , now u can't send more than $10000 a month , on top ur business again

I guess those who are thinking for us are myopic.

12 Likes

Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by ogododo: 6:20am On Dec 02, 2016
NATIONALPASTOR:
Do they mean foreign transfers to dorm account or just withdrawal?

What you can spend;Im not sure about withdrawal

1 Like

Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by GossipHeart(m): 6:55am On Dec 02, 2016


What am i gonna do with $10,000 ??

What a joke

6 Likes

Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by nony43(m): 6:56am On Dec 02, 2016
Odi egwu, somehow somehow big shots will find their way.

1 Like

Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by lonelydora: 6:56am On Dec 02, 2016
Since yesterday, Stanbic, Access and First bank haven't allowed me rest with SMS on this restriction
Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by spidey77: 6:56am On Dec 02, 2016
Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by Ekpekus(m): 6:57am On Dec 02, 2016
I kukuma give up shocked

3 Likes

Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by Ayoswit(f): 6:57am On Dec 02, 2016
na so
Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by casttlebarbz(m): 6:57am On Dec 02, 2016
Nah una Sabi
Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by frubben(m): 6:58am On Dec 02, 2016
God will help us all.
Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by rozayx5(m): 6:58am On Dec 02, 2016
another 100 companies just left



soon they will tell you that you cant spend more than 10k a month




sai goathari

23 Likes

Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by pointstores(m): 6:58am On Dec 02, 2016
nawa
Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by Vaxt(m): 6:58am On Dec 02, 2016
Oooo
Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by dashing123: 6:58am On Dec 02, 2016
To be successful, you need to be proactive. Be Strong, Be Motivated, Believe.


YOU can
It's in YOU

Go and excel.. Your Wealth is Predictable
Follow my signature
Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by lorenzos1: 6:58am On Dec 02, 2016
Not one single positive news in this Nigeria. Who did we offend ? And the policy makers dont seem to understand what they are doing.

11 Likes

Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by virginboy1(m): 6:59am On Dec 02, 2016
WHY AM HAPPY THAT MUHAMMADU BUHARI IS THE PRESIDENT*!!!

*...ODIDERE A....*

*Today, I want to take time and thank GOD for making Buhari the president of this country*.

*At first, I did not understand why GOD allowed it to happen. But now I know and I HAVE SEEN reasons why we should accept his Presidency*.

*Had it been Buhari did not become President*:

*1. We will think that by now fuel will be #45 per litre*.

*2. We will think that by now #1 will be equal to $1*.

*3. We will think that by now three million jobs would have been created*.

*4. We will think that by now unemployed youths would have been receiving #5,000.00 stipends*.

*5. We will think that by now pupils would have been getting at least a meal(including fruits) in school*.

*6. We will think that by now Buhari would have made his assets and liabilities public*.

*7. We will think that by now maternal and children healthcare services would be free*.

*8. We will think that by now Boko Haram will be a thing of the past*.

*9. We will think that by now all corrupt leaders will be in jail*.

*10. We will think that by now Electricity will be 24/7*

*11. We think that by now Nigeria will be the Greatest and strongest Economy in the world*.

*12. We will think by now a bag of rice will be N5000 with a boom in Agriculture*.

*13. We will think by now Nigeria would have recovered all looted funds*.

*14. We will think by now Nnamdi Kanu would have declared Independent State of Biafra*.

*15. We will think that by now Nigeria would have gotten 3 standard working Refinery*.

*16. We will think that by now Nigeria would have stopped importation of fuel*.

*17. We will think by now office of the First Lady will no longer exist*.

*18. We will think by now National Assembly salary would have been cut down to 50%*.

*19. We will think that by now 720,000 jobs by the 36 states in the federation yearly (20,000 per state) would have been created*.

*20. We will think that by now there would be permanent peace in the Niger Delta*.

*21. We will think that by now Chibok girls would have been rescued*.

*22. We will think that by now the government would have started creating additional middle-class of at least two million new home owners in the first year in government and one million annually thereafter*.

*23. By now everybody will be blaming Goodluck Jonathan and calling him clueless*.

*The list is almost endless..."*

*This is Nigeria of 2016*

*The Minister of Agriculture studied French*

*The Minister of Education studied Accounting*

*The Minister of Solid Minerals studied International relations*

*The Minister of Power studied Law*

*The Minister of Communications studied Law*

*The Minister of Transport studied English*.

*Minister of Labour and Employment studied Surgery*


*Minister of Budget and national planning studied law*

*Minister of Foreign Affairs studied Medicine*

*Minister of Petroleum studied Law*

*IGP studied Agriculture*

*I didn't say anything ooo but I hope u know why our economy is on recess*.

*THANKS*

117 Likes 18 Shares

Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by rabdeluxe(m): 6:59am On Dec 02, 2016
Buhaha grin grin grin
Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by mysteriousman(m): 6:59am On Dec 02, 2016
Economic policies of this regime sha
Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by gudnex22(m): 7:00am On Dec 02, 2016
Another killer strategy again.
bunch of confused mad men

4 Likes

Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by WILLYBABS(m): 7:01am On Dec 02, 2016
Change is here finally

Nigerians, please adjust, you wanted change and you've seen change.

I no even sabi anybody wey I wan send money to or receive money from, except God pick up my call

9 Likes

Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by yomibelle(f): 7:01am On Dec 02, 2016
early morning prayer






Lord, provide me with a domiciliary account!

1 Like

Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by frankmoney(m): 7:01am On Dec 02, 2016
Godwin emefiele is highly incompetent and needs to be sacked , I wonder how he comes up with these policies

3 Likes 1 Share

Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by yomalex(m): 7:01am On Dec 02, 2016
What actually qualifies as spending? Transfer nko?
Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by gr8eminent(m): 7:02am On Dec 02, 2016
Confusion everywhere

1 Like

Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by showreals(m): 7:02am On Dec 02, 2016
What is all this
Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by zaimeg: 7:03am On Dec 02, 2016
And you expect any serious minded investors to bring their hard earned dollars? Unfortunately, Nigeria is in this mess until 2023. Policy somersaults everyday. Anyone who has the opportunity to travel out should do so fast.

18 Likes

Re: Stannic IBTC Bank Limits Domiciliary Account Spending To $10000 Per Month by SycophanticGoat: 7:04am On Dec 02, 2016
rozayx5:
another 100 companies just left

soon they will tell you that you cant spend more than 10k a month

sai goathari


You meant to say 1k?

1 Like

(1) (2) (3) (4)

Despite Extension, Nigerians Can’t Withdraw Old, New Notes / Borno State's PVC Pipe Factory Completed, Set To Take-Off (Photos) / Virtapay Goes Live And Now.... Virtacoin

(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. 64
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.