My friend opened a Zenith Bank current account at Usuma branch Maitama, Abuja on the 16th October, 2020. But he did not use it for any transaction until the 3rd of December, 2021. So the account was not used for over one year.


Infact, I transferred 205,000 on Saturday the 3rd of December, 2021 and this was the first transaction that was ever made on the account. He then deposited another 65,000 into the account on the 7th of December, 2021.This shows that the total deposit made into the account is 270,000.


He later requested for ATM and he was charged 1,000 and 50 naira for stamp duty.


However, the bank statement shows that 253,000 in the account instead of 268,950.


They claim that 9k was for CAC confirmation. So where did the remaining 6k go to?


I know Zenith bank reps are here and they should look for a way to refund the money. I don't have the email addresses of Jim Ovia or other top management staff of the bank.

The bank statement is below. How can he get his money back. It mustn't go like that. 6k can buy something this Christmas. Haba!!!

Thank you very much.

Zenith Bank is fond of that behavior.
I once paid in 400k and my balance read 393,000.
I went to their head office, sent mails till date nothing has been done.
I have moved on, since I can't build my own bank I don't think we have many choices than switching banks.

That beautiful damsel above me said it all.

NovesaTillie:
Zenith Bank is fond of that behavior.
I once paid in 400k and my balance read 393,000.
I went to their head office, sent mails till date nothing has been done.
I have moved on, since I can't build my own bank I don't think we have many choices than switching banks.

This is very bad. What is CBN and consumer protection doing about this kind of bank matters?

isaiah4life:
That beautiful damsel above me said it all.

It is well. This is why I miss Twitter. I would have sent a tweet to Babatunde Irukera concerning it walahi.

kachistone:
My friend opened a Zenith Bank current account at Usuma branch Maitama, Abuja on the 16th October, 2020. But he did not use it for any transaction until the 3rd of December, 2021. So the account was not used for over one year.


Infact, I transferred 205,000 on Saturday the 3rd of December, 2021 and this was the first transaction that was ever made on the account. He then deposited another 65,000 into the account on the 7th of December, 2021.This shows that the total deposit made into the account is 270,000.


He later requested for ATM and he was charged 1,000 and 50 naira for stamp duty.


However, the bank statement shows that 253,000 in the account instead of 268,950.


They claim that 9k was for CAC confirmation. So where did the remaining 6k go to?


I know Zenith bank reps are here and they should look for a way to refund the money. I don't have the email addresses of Jim Ovia or other top management staff of the bank.

The bank statement is below. How can he get his money back. It mustn't go like that. 6k can buy something this Christmas. Haba!!!

Thank you very much.

Okay. Lemme narrate what happened.
Immediately the corporate account was opened, your friend was charged 9K for CAC search fee. This is carried out the validate the directors, signatories and company secretary.
When the debit hit the account, you friend didn't fund it so interest has been hitting that account because its a current account.
If you look at the statement, his debit balance is 15k plus. That means as at the end of last month, that was what he owed the bank. It had accumulated extra 6K plus as interest
Hard luck.

Before you drag this case
Check your opening balance was -15k
Total credit was about 270k
You asked for atm 1000 + stamp duty 50

That's 270000-15074-1050 =253875k

Like the OP above CAC and accumulated interest

HarunaWest:

Okay. Lemme narrate what happened.
Immediately the corporate account was opened, your friend was charged 9K for CAC search fee. This is carried out the validate the directors, signatories and company secretary.
When the debit hit the account, you friend didn't fund it so interest has been hitting that account because its a current account.
If you look at the statement, his debit balance is 15k plus. That means as at the end of last month, that was what he owed the bank. It had accumulated extra 6K plus as interest
Hard luck.

My friend did not use the account for one year and it had 0 naira in it. The first money to ever hit the account was 205,000 and I sent it on the 3rd of December, 2021.

You will see the 205k on the bank statement.

So how can they charge 6k on an account that was just funded this December?

It is wrong.

jaeyking:
Before you drag this case
Check your opening balance was -15k
Total credit was about 270k
You asked for atm 1000 + stamp duty 50

That's 270000-15074-1050 =253875k

Like the OP above CAC and accumulated interest

Una no dey understand this matter. The account was opened last year October and it was not funded until this year December. Infact, I sent the 205k on Saturday and that was the first ever transaction that was made. 0 naira was in the account for over 1 year.


I know 9k was for CAC and we agree but where did 6k go to?

kachistone:


My friend did not use the account for one year and it had 0 naira in it. The first money to ever hit the account was 205,000 and I sent it on the 3rd of December, 2021.

You will see the 205k on the bank statement.

So how can they charge 6k on an account that was just funded this December?

It is wrong.

It is never 0 naira. Tell your friend to reminisce. I am sure he received a debit alert for search fee. The #205K that reflects is the credit into that account..check the balance you will see the deduction.
Comprehend: When the account was opened, search fee of 9K was debited. Interest of 6Kplus accrued totalling 15K plus.
If there is anyone to blame, it should be your friends Relationship Service Manager, because he ought to inform your friend to deposit a minimum of 10,000 into the account. That will take care of search fee.

HarunaWest:

It is never 0 naira. Tell your friend to reminisce. I am sure he received a debit alert for search fee. The #205K that reflects is the credit into that account..check the balance you will see the deduction.
Comprehend: When the account was opened, search fee of 9K was debited. Interest of 6Kplus accrued totalling 15K plus.
If there is anyone to blame, it should be your friends Relationship Service Manager, because he ought to inform your friend to deposit a minimum of 10,000 into the account. That will take care of search fee.

Ok sir. Thank you for the explanation. So why was the extra money removed?

Let's say 10k was removed for search fee like you said; so what happened to the remaining 5k?

The account has only received two credits since it was opened October last year. All the credits were done this December.

So where is the remaining 5k?

kachistone:


Ok sir. Thank you for the explanation. So why was the extra money removed?

Let's say 10k was removed for search fee like you said; so what happened to the remaining 5k?

The account has only received two credits since it was opened October last year. All the credits were done this December.

So where is the remaining 5k?

It is the interest. Remember its a corporate account that had a debit balance. If you have a negative balance on your account and you dont regularize it,i.e settle the outstanding, you will be charged interest on it.

HarunaWest:

It is the interest. Remember its a corporate account that had a debit balance. If you have a negative balance on your account and you dont regularize it,i.e settle the outstanding, you will be charged interest on it.

From your explanation, I deduce that the account was already on a deficit even though it had not been funded right?

kachistone:


From your explanation, I deduce that the account was already on a deficit even though it had not been funded right?

Yes it was already on debit of 9K.
When a new corporate account is opened, the corporate search is carried immediately. So the account is then thrown into debit.
Your friends account has been in debit for over a year or so.

kachistone:



Una no dey understand this matter. The account was opened last year October and it was not funded until this year December. Infact, I sent the 205k on Saturday and that was the first ever transaction that was made. 0 naira was in the account for over 1 year.


I know 9k was for CAC and we agree but where did 6k go to?

Where 6k go no concern me oga. . WEtin concern me now if u said send ur acct. Number make u wire me 5k. . I go do am . STOP ASKING US JAMB QUESTION . .


evil Grin

HarunaWest:

Yes it was already on debit of 9K.
When a new corporate account is opened, the corporate search is carried immediately. So the account is then thrown into debit.
Your friends account has been in debit for over a year or so.

Ok. Thank you for the explanation boss. I appreciate it.

Teripaul:



Where 6k go no concern me oga. . WEtin concern me now if u said send ur acct. Number make u wire me 5k. . I go do am . STOP ASKING US JAMB QUESTION . .


evil Grin

You funny o.

isaiah4life:
That beautiful damsel above me said it all.

Dem talk money matter, you talk woman. Simp

Haba! Bros, I no even see her picture to take know say she fine. But her comment says it all. I support her comment na.

No insult me abeg.

lordm:
Dem talk money matter, you talk woman. Simp