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Shinatu
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Please be warned!
Intercontinental is on a grabbing spree.
All sorts of charges have recently surfaced.
I get charged for Internet Access every month and also get a separate charge for any money transfer conducted on the internet.
The sad thing is that if you go for their text alert service you will be alerted of all these deductions and will ofcourse have to pay for the allerts!.
I opened the account for a particular business transaction that has ended and will have to close the account asap.
My expereince with UBA was bad too, I just did not have a good feeling about them, I was not just able to trust them as there were always new discoveries, things that I was never told, I had to withdraw my cash from the account, I think I will have to offically close that account before I start getting messages that I owe them.
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Redman44 (m)
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I'm back, fellow Nairalanders. The blog has been opened- www.nomoredishonestcharges.blogspot.comA new email address has also been opened for the campaign naijabanks@googlemail.comTry and visit the blog. I have already posted a short article there. The google address can be used to log into the blog. I don't want to give the password here because of Saboteurs. Just mail me at: naijabanks@googlemail.com for the password. You can then log into the blog and write your own experiences and suggestions there. If you've got pictures, you can post them there too. The blog belongs to us all. I dont want any position. I'm not important. The blog needs to have enough content by Sunday when it will be added as a footer on the first article that will be sent to Nigerian Newspapers and Magazines on that day. Lets do this together. We will be helping a lot of Nigerians and foreigners alike in the process. Cheers. |
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superior1
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huh, bank no go chop?
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md4real (m)
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ask you to pay for a lost debit card!  |
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manny4life (m)
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Why am I not surprised that a lot of us do the complain but lack the ability to do the work. No one has posted anything on the blog that Redman44 created, that's really pathetic. The only way change can come about is by speaking out and never quit while trying, that's just my take on it.
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NaijaEcash (m)
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The banks are fraudulent, period!!!! They are milking customers of hard-earned money using all sort of gimmicks and excuses. A lot of people are not complaining because the amount involved seems small. But then it accumulates!
All this outrageous and illegal charges didn't start this year. They've been doing it for some years now. I remember confronting my banker about three years ago to protest the charge of #105 to my account. At the end of every month, the sum of #105 was been deducted from my account even though there were no activities. When I demanded to know what the charge was for, I was told that it is monthly ledger fee. To be that was absurd, but there was nothing I could do 'cos the few people I told about it were trying to laugh at me complaining about #105 per month.
Well, the situation has become worse now. My bank charges #7 per SMS. Of recent, I noticed that they sometime repeat the message sent 2ce. And guess what, I get charged for their 'mistake' For example, if I give out a cheque and a withdrawal is made, then I will receive an SMS that withdrawal has been made from the account. That is supposed to cost me #7, but instead of receiving the message once, they send it twice and charge me #14. Then at the end of the month, they send another SMS stating that #14 has been deducted as charges for the month. Guess what, that information has already generated another debit of #7 which will be deducted automatically at the end of the new month? So it is something like an endless loop of charges!
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oge4real (f)
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I am all out for this cause. I have all sms alert for the indisciminate charges of UBA, just lat me know when and how to send it across.  But, does it mean that nobody in UBA has been reading all these complaints about them, or are they just telling us to "do our worse"? |
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Gridlock (m)
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StanbicIBTC Bank does not have any hidden charges. Check them out.
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shoboy9
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Redmann, Is there a problem with the site? I couldn't register.
I think only an evil person would be against this initiative. We have to put some honesty in our society. And naija banks should be listening to their customers.
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manny4life (m)
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Redmann, Is there a problem with the site? I couldn't register.
I think only an evil person would be against this initiative. We have to put some honesty in our society. And naija banks should be listening to their customers.
There is no problem with the site, its just that you have to create an account if you don't have one with Google. |
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Chiddysville (m)
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UBA bank is the most fraudulent bank in Nigeria. The other day, they wiped out my whole account including the overdraft i got from them and called it ATM fraud. Up till date they said they are still working on it. Bunch of thieves
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saxbe (m)
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I am a banker and I have read through all the writings that my dinstiguished nairalanders have posted.I'm really impressed the way we take issues affecting us as a Nation.Though we may disagree,I am really touched by the sense of urgency and patriotism in your writings
Let me start by saying that no institution,industry or sector can be more developed than the country in which they operate.So we must first acknowledge that most problems raised are typical of us as a Nation.
On the banking side,I acknowledge that outrageous charges exists,I acknowledge that ATM problem exists,I also acknowledge that manpower problem exists,but these problems are not cast on iron.Competition exists to check most of these problems.Also ,asking your bankers for a waiver for some of the outrageous charges eg upcountry transfer fees,cot reduction etc is not a bad idea at all.
On the Regulatory side,the truth is that they are not 21st century compliant, neither are they computer friendly.If they actually carry out adequate and thorough inspections on banks,most of these problems would be discovered and objections raised.Besides there should be a customer complaints desk set up in both CBN and NDIC where members of the public can go and lay their complaints.They should not sit down in the comfort of their offices and leak vital information to the foriegn press.
As for the Government,substantial efforts should be made to create a friendly business atmosphere.The necessary infrastructures should be put in place eg effective and efficient means of transportation,Power generation,security.All these would go a long way in reducing the cost of doing business in the Country.
Finally to the customers,bear it in mind that banks are not charitable organizations.They all have a basic objective which is profit maximization.The customers objectives vary but includes cost minimization,risk minimization,service optimization as well as returns optimization.Therefore a balance should be stuck.My candid advice is that you sit down with your prospective bankers or existing bankers and trash out issues that you feel would hinder you from achieving your desired objective{s} with a view to reaching a balance.
Thank you and God bless you all.May His Grace lead us all through the challenging days ahead.
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manny4life (m)
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Let me start by saying that no institution,industry or sector can be more developed than the country in which they operate.So we must first acknowledge that most problems raised are typical of us as a Nation.
I am really surprised to hear from a banker who is calm and open minded to dialogue for a resolve, most often times, some bankers become defensive. I am glad that you raised that point and just like it always has been, the first step Nairalanders have done is acknowledged that there is problem.
On the banking side, I acknowledge that outrageous charges exists, I acknowledge that ATM problem exists, I also acknowledge that manpower problem exists, but these problems are not cast on iron. Competition exists to check most of these problems. Also, asking your bankers for a waiver for some of the outrageous charges eg upcountry transfer fees, cot reduction etc is not a bad idea at all.
Competition is a common term in every industry, and the entire economy as whole, and shouldn’t be an excuse for illegal extortion, and that's what I call unfair competition. In my own opinion and just like I have always heard, once there's a thought, there's an intent, hence a recipe for a crime. So since the banks willfully came up with this fees because they know Federal Reserve Bank lack competent oversight , the intent to extract money is there making it a serious crime if it was in the U.S.
On the Regulatory side, the truth is that they are not 21st century compliant, neither are they computer friendly. If they actually carry out adequate and thorough inspections on banks, most of these problems would be discovered and objections raised. Besides there should be a customer complaints desk set up in both CBN and NDIC where members of the public can go and lay their complaints. They should not sit down in the comfort of their offices and leak vital information to the foreign press.
This should not be said out in public. If a banker can admit to this, then its about time something be done. How could I have imagine that banks who were forced to meet the banking market capitalization requirement of N25 billion (an estimate of $140 million) were not 21st century compliant with both local and international banking laws and regulation supervisions, and with the new age of automated computer systems, this banks aren’t computer friendly, then the banking system need overhaul. This explains the reason why they cannot refund fees within a timely manner.
Finally to the customers, bear it in mind that banks are not charitable organizations. They all have a basic objective which is profit maximization. The customer’s objectives vary but include cost minimization, risk minimization, service optimization as well as returns optimization. Therefore a balance should be stuck. My candid advice is that you sit down with your prospective bankers or existing bankers and trash out issues that you feel would hinder you from achieving your desired objective{s} with a view to reaching a balance.
I like how you quote it “profit maximization” . I believe that for every (N1) put into a bank requires a full service of all you metioned above. I now ask you, you continually charge your customers N100 for something bogus, again I said every (N) should represent all you mentioned, given the scenario, how has the bank minimized my cost of banking with them, by charging me wrongfully? How have they optimized my service, perhaps, by giving me the impression that they can do whatever, including those who would end up with countless trips to the banks to sit down with a banker, or countless minutes on the phone yelling, shouting and angry? How have they increased my level of trust because they are untrustworthy, and then telling me, hey, we can charge you anytime we feel like and ain’t nothing you gonna do about it, what other risk is greater than that?
My own assessment, this banks are yet to live up to the minimum standards of expectations that the customer desire. Banking should be hassle free and automated with out any cost passed on to the direct consumer. In fact, having an sophisticated automated system optimizes service to its full potential, reduce direct overhead and variable labor cost of getting generators and hiring bankers or whoever where as you can dispute a charge online with an e-form. With all this they can perform at full speed, minimize their risk, yet maximize profit
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manny4life (m)
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Let me start by saying that no institution,industry or sector can be more developed than the country in which they operate.So we must first acknowledge that most problems raised are typical of us as a Nation.
I am really surprised to hear from a banker who is calm and open minded to dialogue for a resolve, most often times, some bankers become defensive. I am glad that you raised that point and just like it always has been, the first step Nairalanders have done is acknowledged that there is problem.
On the banking side, I acknowledge that outrageous charges exists, I acknowledge that ATM problem exists, I also acknowledge that manpower problem exists, but these problems are not cast on iron. Competition exists to check most of these problems. Also, asking your bankers for a waiver for some of the outrageous charges eg upcountry transfer fees, cot reduction etc is not a bad idea at all.
Competition is a common term in every industry, and the entire economy as whole, and shouldn’t be an excuse for illegal extortion, and that's what I call unfair competition. In my own opinion and just like I have always heard, once there's a thought, there's an intent, hence a recipe for a crime. So since the banks willfully came up with this fees because they know Federal Reserve Bank lack competent oversight , the intent to extract money is there making it a serious crime if it was in the U.S.
On the Regulatory side, the truth is that they are not 21st century compliant, neither are they computer friendly. If they actually carry out adequate and thorough inspections on banks, most of these problems would be discovered and objections raised. Besides there should be a customer complaints desk set up in both CBN and NDIC where members of the public can go and lay their complaints. They should not sit down in the comfort of their offices and leak vital information to the foreign press.
This should not be said out in public. If a banker can admit to this, then its about time something be done. How could I have imagine that banks who were forced to meet the banking market capitalization requirement of N25 billion (an estimate more than $170 million) were not 21st century compliant with both local and international banking laws and regulation supervisions, and with the new age of automated computer systems, this banks aren’t computer friendly, then the banking system need overhaul. This explains the reason why they cannot refund fees within a timely manner.
Finally to the customers, bear it in mind that banks are not charitable organizations. They all have a basic objective which is profit maximization. The customer’s objectives vary but include cost minimization, risk minimization, service optimization as well as returns optimization. Therefore a balance should be stuck. My candid advice is that you sit down with your prospective bankers or existing bankers and trash out issues that you feel would hinder you from achieving your desired objective{s} with a view to reaching a balance.
I like how you quote it “profit maximization” . I believe that for every (N1) put into a bank requires a full service of all you metioned above. I now ask you, you continually charge your customers N100 for something bogus, again I said every (N) should represent all you mentioned, given the scenario, how has the bank minimized my cost of banking with them, by charging me wrongfully? How have they optimized my service, perhaps, by giving me the impression that they can do whatever, including those who would end up with countless trips to the banks to sit down with a banker, or countless minutes on the phone yelling, shouting and angry? How have they increased my level of trust because they are untrustworthy, and then telling me, hey, we can charge you anytime we feel like and ain’t nothing you gonna do about it, what other risk is greater than that?
My own assessment, this banks are yet to live up to the minimum standards of expectations that the customer desire. Banking should be hassle free and automated with out any cost passed on to the direct consumer. In fact, having an sophisticated automated system optimizes service to its full potential, reduce direct overhead and variable labor cost of getting generators and hiring bankers or whoever where as you can dispute a charge online with an e-form. With all this they can perform at full speed, minimize their risk, yet maximize profit
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Redman44 (m)
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@Defatigue Thanks for the work you've done on the blog. Thanks for the graphics and your articles. I believe this move of ours will eventually lead to the abolition of ridiculous charges by Nigerian banks. Nairalanders, please support this cause and post your comments on the blog. Tell your friends about this campaign. Lets get others involved in this crusade. Cheers. www.nomoredishonestcharges.blogspot.com |
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ibelab (m)
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why all the critics, the only thing way oyibo they give ours credit say we dey improve, na em una wan destroy.60% of all the employment in Nigeria is only the banks. make una think ooh!  |
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manny4life (m)
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why all the critics, the only thing way oyibo they give ours credit say we dey improve, na em una wan destroy.60% of all the employment in Nigeria is only the banks. make una think ooh! Huh, so you would call fraud, extorting money from people wrongfully improvement ? The fact that they y employ 60% of the employed, therefore we should all encourage and support them. I hear about ATM fraud, what difference are they from those idiots. I can understand one of the banks probably sent you to lobby on their behalf, trust the victims of this so-called crime, it's not gonna work. |
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big-ben
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welldone guys,am feeling you!those banks are nothing but crooks  |
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ibelab (m)
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@manny4life, can u tell me the amount of tax you pay per year to Nigerian Government;?if at all u do pay.  |
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qkman
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In the UK, you will never see banks running lotteries instead of doing proffesional banking transactions,Nigerian banks have pushed aside the main reasons of their existence,almost all Nigerian banks have one kind of lottery running in their platform. They don't support or give advice to small/medium enterpreneurs.
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lanreseku
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Its true, its just a way of robbing there customers. But you have right to challenge that or do what we call BANK TRANSACTION AUDIT an if u are interested in that, u can send your complain to a financial consultant through this email address lanreseku@yahoo.com for assistance to get back all that your bank have taken from u. thanks |
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hayoakins (m)
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cant wait to read the article in one of the dailys, am happy we now have a voice, United we can fight against this daylight robbery |
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Redman44 (m)
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@Concerned Nairalanders Thank you for your comments. God bless you for supporting this cause. We really need your support to make this campaign successful. I have been denying myself of sleep since last Friday to make the campaign very nstrong. I have sent an email to many of my friends on this issue, and they are also forwarding the mail to their friends. We are trying to build a chain reaction by Nigerian Bank customers scattered all over the world. We will not fail by the grace of God. Nigerian Bank Customers have been taken for granted for too long and it is time to act Lets do this together. To spread the word about this campaign, you can just do this simple promotion exercise. 1. Get some sheets of A4 paper. Write out the web address of the blog: www.nomoredishonestcharges.blogspot.com and cut the paper into small sizes. Distribute the web address to friends and Family and tell them to check it out. It is as simple as that. 2. The blog belongs to all of us. Send us an email at: naijabanks@googlemail.com We will send you the password to log into the blog and comment on the articles or write your own article and complaints there. We need more stuff on the blog, including pictures. The fight is slowly gaining momentum. Join us in the crusade. Cheers. |
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shollykaye
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Two weeks after I opened a savings account with FCMB, they changed my account no wtout notifying me. My dad paid some money into the account b4 the no was changed.It took me days b4 I would get the money transferred to the new account cos the branch where my father paid the money denied receiving any money.Thank God I had the teller no,if not they would have swallowed my money.
I wonder why intercontinental bank charge N50 each time the ATM machine is used.
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vezycash (m)
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Bank owners are like mafia - cold hearted don't care about us (MJ) One day I left my withdrawal slip @ lagos and travelled to ogun state - needed money went the bank (UBA) hoping they would help me out with a slip so I could get money. How much? (500) they said that I would have to pay for the slip (850) how much dey account (1000k) or I should travel to lagos to get my slip, come back and withdraw the money!!!!!! |
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lekzor5 (m)
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Its sad when educated people come into this forum and castigate banks when we have choices. From my experience with banks,one can walk up to the customer care unit and demand explainations for transactions in one's a/cs. If u're not ok u can excalate the matter.
I work with Skye bank and i must tell u that charges are for services rendered and are fully automated at month end. This systems are error proned so if u notice anything wrong with the transactions in your a/c complain and it will be resolved.
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oliver don
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Though like the bank i opperate are a bit sincere GTB they only charge N10 for sms for any transaction no any deduction and Afrikbank is also a sincere bank compare to others
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