Hey members, are u aware that[b] UBA steals money [/b] from your accounts? Well, I found out a few weeks ago. I deposited (by myself) 200K in my UBA savings account, 4 days later, I requested for my statement and found out I had been duped of[b] N1,044.[/b] When I approached the bank manager, I was told they take N5 from every N1000. I told him I only made a deposit, not withdrawal and he insisted that it is UBA policy. That's stealing! Thats the only bank I know of that charges a customer for depositing money in his/her own account. Please, take a good look at your accounts with UBA and find out how much you've lost.On the contrary, someone paid in money to my other account with another bank (name withheld), when the transaction could not reflect fast, I beckoned on the bank staff to "hasten up, afterall they charge for this service" but she said "No oh, WE don't charge, we only charge C.O.T at the end of the month and that applies to current accounts only".
UBA STEALS MONEY!

As they say this is company policy ,i would like to ask if they made you aware of this policy when u were opening the account .

No, they did not. I opened this account in 2003, they were not doing this. I think it's not been long they started it but it's very wicked.I was not told about this useless policy before my money was taken, and thats stealing.

if you are sure that the forms u signed and all mother of the documents they gave u when u signed up do not make mention of this policy and that they did not inform you of this policy when they started it,then i suggest you get ur lawyers and sue them ,but plz make sure that this p-olicy was never mentioned in the forms u filled when u opened the account cos that would make u sound like fool .

egoldman,
u know all these banks, when you are opening an account with them, certainly u wont see all that info. Thats ok. But why didnt they inform me when they started.I had been pumping money into that account and when this kind of thing happens, I do not take note. I sure will sue UBA.If thats how they make money, thats fraud!

@ topic

I'll talk to the[b] Authorities [/b] about this

So they are still doing this to people?

Brethren, they have done this to me many times untill i caught them the day i deposited #210,000.00 and few days later decided to make some withdrawals. Wao! i noticed that #2080.00 has been zapped from my account without any justifiable reason. And i know this is only Savings Account. My God, this is criminal!
I went to the manager and explained. It's their policy, he said.

Because i didn't want to loose more of my hard earned money to them, i closed my account and went for Zenith and Intercontinental banks. The later has been my favourite.
People should be sensitive to this matter.

UBA IS HERE HONESTLY TO KILL YOUNG INTREPRENUERS!

Even in America, as far back as the 90's, some banks were charging their clients, for fees from their checking account. However, you could avoid those charges if you had more than the minimum that they required in your checking account. I am not so sure on how much it was, could have been like 5 dollars a month or thereabout. So, that biz concept is creeping into the Nigerian banking industry? Na wao!!!.

In all honesty a bank has the right to charge fees to their customer, but all fees charged must be known to the customer before being charged. if a bank in the bid to be the wise choice in banking/ ranked the biggest bank in nigeria, charges these fees to their customers for depositing money with them[remeber when you deposit money with a bank you are loaning it money] then its a ripoff and it shouldnot be accepted.

If you notice such discrepancies with your account please REPORT TO THE CENTRAL BANK OF NIGERIA AS SOON AS POSSIBLE. becuase we cannot allow this to continue. all bank fees must be vetted by the CBN.

Or better still, change your bank.

well, my lawyer had traveled b4 i noticed this UBA thing. As soon as he returns, he will file a suit against UBA. Watch out!

Indeed, united bank for africa steals money from peoples account-mine inclusive. Though in all fairness, they have the right to charge whatever amount they want but these charges are not made known to we we. I've been noticing this act of insolence from former standard bank, where they charge outrageous fees for a token. Sometimes they deduct close to 2k, sometimes it's 55box and the most ridiculous ones are the deft removal of kobos from ones account. Now tell me, who can you complain to that 38kobo has been removed from your account. But look at it like this, multiply 5kobo by tens of trillion! Thats about 50billion naira if 5kobo is deducted from all account holders in the bank.

Well, i think i'll like to work in a bank too, I rest my case.

I sent N160,000 to my Brothers UBA a/c and they charged N960 for the deposit I made. He then transfered the money to the account of an HYIP customer with UBA account and was also charged N960 again -bearing in mind that a COT charge will also be charged at the end of the month. He was then told that they make such charges for amounts above N100,000. Thats a ludicrous RIP-OFF.

United Bank for Atrocity!

United Bank for Atrocity!

lol, thats funny man ,i would like to send the link for this thread to the UBA bank ,what do u guys think ? maybe nit would get them to change .

Think that'll be cool. Maybe they'll curb this lust for money when they know we're no longer oblivious of their shadyness.

I think UBA should first be punished for all the millions they have stolen in the past to answer the best bank in the country.This can be done by discuraging people from opening new accounts with them and by asking people who have other options to close their accounts with UBA. Again, simply stop depositng funds in UBA!

Hello members, am sending this thread-link to the MDs of UBA. what do u think?

Hey Guys,

I was about to post a topic on this UBA scam on we their customers but thank God someone has done so. I discovered this morning that UBA was Stealing money from my account without my knowledge in the name of company policy which i was never informed about. When i decided to reconcile my deposit and withdrawals, I discovered that UBA was always making withdrawals from my account without my knowledge. I was possed off. I concluded I will first of all post a topic about the scam on Nairaland so as to expose them to Nigerians before reporting them to CBN and any Consumer Protection Agency. I operate business and savings accounts with other banks [Names Withheld], they dont STEAL my money as UBA does. Instead, they pay encouraging interest on the deposits. I noticed that the deductions started when Tony Elumelu of former Standard Trust Bank took over UBA.

Nigerians Beware of this Depositors' Money STEALING Monster called UBA!!!.

Is that how they got their 1 trillion naira?

Uba sucks!!

I have had some experience of this unprecendented charges on Savings account by UBA. Being a former STB employee, now in the diaspora and in need of a bank account in Nigeria, reactivating my then STB savings account was the logical step. I then subscribed for online access when I visited Nigeria.

I was shocked after I asked a friend to DEPOSIT 450K naira into the account in December last year and I saw online that charged me 2,310 naira. Again in February this year, they charged me 1,837.50 naira on a DEPOSIT of 350K naira. Just yesterday my friend made a DEPOSIT of 730K naira into this account and again, a wooping 3,832.50 naira was charged against the savings account. All these spurious charges have the same transaction description that reads "INTERSOL DEP CHARGES ON SB", and the proportion is consistently 0.525% (i.e. 0.5% + VAT), which makes it smell like the traditional COT!!!. It appears that this so called 'Policy Charge' affect only cash transactions conducted in a branch different from the branch where the savings account is domiciled, and only when the cash deposit is above 100K naira. There was no disclosure whatsoever. I'm used to COT of '5 naira per mille' (i.e. 0.5% of WITHDRAWALS) on CURRENT accounts. If these spurious charges were based on withdrawal, I would have understood (although it would still be uncommon).

As if these spurious charges are insufficient, they charge me 525 naira each time I withdraw money from this savings account outside of my branch (called 'UPCOUNTRY WITHDRAWAL CHARGES'), plus additional 525 for using their "withdrawal-slip" when I go to withdraw without carrying my passbook with me (called LOOSE SLIP' charge)!!!

I sent them an inquiry through their UBADirect web site in January but I got no response till now. I also sent an email to a guy that should be my account officer, but no response. Anyway, I am stock with them now till I visit Lagos and move my account to GTB and probably (if I have time) initiate a CLASS-ACTION against UBA for this undisclosed and so called 'policy charges' on deposit transactions.

Would a class action lawsuit ever see the light of the day in Nigeria? That's I dont know. As for the allegations levelled at UBA, I really cant say. Having lived in America, all what I can say is that banks charging you interest on your account is quite the norm in the banking industry. However, I have never heard of the same charges on savings account, even though the interest is peanuts.

Maybe we could revert back to the former days, when our forefathers buried money under the tree to avoid charges on one's account.

ehn mi o je gba! i say sue their ffucking ass i'd put 200k in an account and find almost half God knows what you needed that money for, i'm still not believeing this thieves indeed

These days, there are less complaints from customers, at least on NL. They seem to have changed. Most of those funny charges have been dropped.