Your Dormant Bank Account Could Put You In Trouble - Business - Nairaland
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| Your Dormant Bank Account Could Put You In Trouble by Tokotaya: 2:06pm On Apr 14, 2015 |
If you have a dormant bank account in Nigeria, you could be on CBN’s debtors’ list. Let me recast that, if you have a dormant account in Ecobank, you may already be a debtor, without knowing it. Your name may have been listed as having bad credit on the Credit Risk Management Bureau (CRMB)’s database with CBN. It’s not a demarketing attempt. It is purely my experience that others can learn from. I had a current account in Ecobank around 2011. My ex-employer moved our salaries there based on a nice presentation made by the Branch Manager of the Bank at the time. However, the promises made were not met, so the salary account was moved elsewhere and we all thought it ended there. More than three years later, I had left the company and was processing a loan with another bank. Near the completion of the deal, they called to tell me I was owing Ecobank. I was advised to sort it out with them before any progress could be made. I didn’t take any loan. The account didn’t have an overdraft facility. It was a basic current account from which you could never withdraw above your available balance at any point in time. How could I owe on the account? I called their customer care and the lady insisted I must have taken a loan. I insisted I did not, and tried to convince her to look into the account to see what could have happened. She rudely cut the call! I made a series of other calls and was linked to their Oke Afa, Isolo Branch where the account resided and was able to establish that it was my dormant account there that ran into negative. Ecobank made some routine charges on the account and when they depleted what was there, they made negative deduction of N119 and the negative started accumulating interest that had amounted to about N2,500 by late last year when I applied for a loan. What manner of a bank would make deductions from a dormant account? I went to the bank and confronted them. An official explained that an account going dormant does not mean that charges could not be made on it. He said a man can be sleeping, but his bodily functions work nonetheless. I paid off the money and obtained a letter of Non-indebtedness and took it to my new bank before they could process my loan. The great worry: what if I had not applied for a loan at another bank? How would I have known? Many decades later, may be as a pensioner, one may now apply for something and they will tell you there’s a debt of a couple of millions of naira you need to clear. I’ve commenced the process of closing the account with Ecobank. Other dormant accounts I have are going too, even though some of the other banks are arguing that their own processes are different from Ecobank’s. They argue that typically, your dormant account holds the last balance there till you reactivate it. One said if at all any customer’s account goes into red, his bank had a standard procedure to call up the customer by phone to alert him. No one called me from Ecobank. How much was N119 that Ecobank would go ahead to list me as having a non-performing loan instead of calling me to clear it. The totality of my experience with Ecobank has been horrible to say the least. To even collect the Letter of Non-Indebtedness was a war. It took nearly 3 weeks of constant harassment to get it ready and on the day I was to pick it up, I spent three and a half hours in their banking hall. So folks, check up on all your current dormant accounts, especially those with Ecobank. 312 Likes 57 Shares |
| Re: Your Dormant Bank Account Could Put You In Trouble by steppin: 2:12pm On Apr 14, 2015 |
@Op, That's for a current account not savings. If you leave a current account dormant, there are bound to be charges in some banks. 24 Likes |
| Re: Your Dormant Bank Account Could Put You In Trouble by GboyegaD(m): 2:15pm On Apr 14, 2015 |
I have to call my bank ASAP since I never cared about whatever fees they were charging. 2 Likes 1 Share |
| Re: Your Dormant Bank Account Could Put You In Trouble by TunjiMsp: 3:26pm On Apr 14, 2015 |
steppin:even on savings remember you do pay for SMS alert 35 Likes 2 Shares |
| Re: Your Dormant Bank Account Could Put You In Trouble by egobetatoday: 6:15pm On Apr 14, 2015 |
TunjiMsp: I was just about to say that too. In fact my hubby's acct was debited for ATM card recently even though the acct has been dormant for 6 yrs now... And thrown into debit! We are thinking about closing it too 16 Likes 3 Shares |
| Re: Your Dormant Bank Account Could Put You In Trouble by dorodee(m): 7:14pm On Apr 14, 2015 |
mehnn.. this is really eye opening! thanks op. 28 Likes 2 Shares |
| Re: Your Dormant Bank Account Could Put You In Trouble by hammedkola(m): 7:49am On Apr 15, 2015 |
Thanks 2 Likes |
| Re: Your Dormant Bank Account Could Put You In Trouble by osile2012: 10:26am On Apr 15, 2015 |
[size=15pt]Nigerians Should form a habit of rating Brands and Products. If we learn to do this, most companies in Nigerian will sit up to maintain their rating. This is the reason we have come up with this rating platform. Feel free to click the link on my signature, click on rate brands, Find ecobank and rate them based on your experience. You can do the same for other brands, products and people.[/size] 59 Likes |
| Re: Your Dormant Bank Account Could Put You In Trouble by stelaar(m): 11:03am On Apr 15, 2015 |
I stopped running a Diamond Bank Saving account (High interest deposit account aka HIDA) for over two years, got to the bank this Year only to be informed that going below N5000 attracts a monthly charge of 150 and as such I owe the Bank N150 X 28 Months. Account was on Negatived as such as soon as Money got in, N4200 was deducted with the speed of light. Funny enough Available Balance shows what's left and my Book balance still shows my deposit plus the N4200 14 Likes 4 Shares |
| Re: Your Dormant Bank Account Could Put You In Trouble by Nobody: 6:35pm On Apr 17, 2015 |
steppin: |
| Re: Your Dormant Bank Account Could Put You In Trouble by Pavore9: 7:43pm On Apr 17, 2015 |
'He said a man can be sleeping, but his bodily functions work nonetheless'.  53 Likes 3 Shares |
| Re: Your Dormant Bank Account Could Put You In Trouble by Truflame: 7:58pm On Apr 17, 2015 |
The best bank in Nigeria is GTbank. Make thorough inquiries before transacting with other banks. They can really frustrate the living daylight in you 27 Likes |
| Re: Your Dormant Bank Account Could Put You In Trouble by Nobody: 9:23pm On Apr 17, 2015 |
Do you work for GTB?  Truflame: 41 Likes 2 Shares |
| Re: Your Dormant Bank Account Could Put You In Trouble by ultrazone(m): 7:47am On Apr 18, 2015 |
jjj |
| Re: Your Dormant Bank Account Could Put You In Trouble by alotofgrace(m): 12:56pm On Apr 18, 2015 |
best to deactivate asap 2 Likes |
| Re: Your Dormant Bank Account Could Put You In Trouble by Chuksgeo: 8:30pm On Apr 18, 2015 |
This should be on frontpage, MODs take note, its important. 1 Like |
| Re: Your Dormant Bank Account Could Put You In Trouble by AMI3(m): 9:40pm On Apr 18, 2015 |
Exploitation of d highest order. 8 Likes 1 Share |
| Re: Your Dormant Bank Account Could Put You In Trouble by Tokotaya: 2:30pm On Apr 21, 2015 |
alotofgrace:People keep dormant account for several reasons. I leave some dormant accounts for some time and returned to them later for several reasons. When someone wants to pay you money and the bank nearest to him is the one with your dormant account, you could ask the person to pay the money in. You will only reactivate the account b4 withdrawing. 7 Likes 2 Shares |
| Re: Your Dormant Bank Account Could Put You In Trouble by ehisdan(m): 8:00am On Apr 22, 2015 |
Ecobank is a scrab bank that need to be eradicated asap. Oceanic bank was bad, i thought merging them with Ecobank will be better rather it became worse. I left the bank almost a year now with some money in d account. But now my account balance is -#853, they dnt send me alert. What then is d deduction for?. I love #fidelity bank# 17 Likes 2 Shares |
| Re: Your Dormant Bank Account Could Put You In Trouble by Nobody: 6:50am On Aug 05, 2015 |
I've made up my mind to close my Ecobank account. They've become crap since the merger with Oceanic bank Been humiliated several times at their bank, most recent was when I went to pick up my ATM card. The CC officer refused to give me because of irregular signature. She even refused to accept my BVN number! I told her if my signature is irregular, but the profile on my BVN matches the account, why not use the biometrics of the BVN to grant me access to the account. The officer was on zombie mode and kept insisting my signature was irregular. Won't bore you with details; at the end of the day I spent 2hrs+, felt humiliated and left without my ATM card.  I'm truly disappointed with Ecobank!UPDATE: For those of us willing to close our Ecobank accounts. You will need a.) A letter addressed to the the branch manager requesting to close the account b.) You have to return anything given to you by the bank e.g. ATM card, cheque books, withdrawal slip. C.) In the absence of b.) You will need a court affidavit to stand-in for any of the above d.) About 3 weeks of patience. (They won't be in a hurry to close your account) N/B: Visit your domiciliary branch to process your case and avoid stories that touch (no network, system is down, the printer has not been working since last week, our manager's dog has a fever  )46 Likes 2 Shares |
| Re: Your Dormant Bank Account Could Put You In Trouble by juliebest(f): 7:01am On Aug 05, 2015 |
This should be on the front-page so a lot of people will be aware. Na wa o. 1 Like |
| Re: Your Dormant Bank Account Could Put You In Trouble by ferhyntorlah(f): 8:35am On Aug 05, 2015 |
How come this informative topic never made front page? Lalasticlala, ishilove, please do the needful. Thanks! 1 Like 1 Share |
| Re: Your Dormant Bank Account Could Put You In Trouble by Nobody: 9:09am On Aug 05, 2015 |
teeowl: But he's saying the truth. 2 Likes |
| Re: Your Dormant Bank Account Could Put You In Trouble by tola9ja: 9:42am On Aug 05, 2015 |
Ftc ope hooo |
| Re: Your Dormant Bank Account Could Put You In Trouble by Empress2014(f): 9:43am On Aug 05, 2015 |
 trouble or no trouble,my Uba account will soon be dormant and maybe dormant for life,if anybody call me say I owe them money, I go swear for their forefathers ni27 Likes 2 Shares |
| Re: Your Dormant Bank Account Could Put You In Trouble by kunleeko(m): 9:44am On Aug 05, 2015 |
They are on their own, (OYO). How can I borrow money without my permission. No wonder I see their alerts every month end. Odeeshi! 5 Likes |
| Re: Your Dormant Bank Account Could Put You In Trouble by phransix147(m): 9:45am On Aug 05, 2015 |
I even think say u wan talk something reasonable sef! |
| Re: Your Dormant Bank Account Could Put You In Trouble by Bsc(m): 9:45am On Aug 05, 2015 |
I left 5,000 in my dormant Diamond Bank account. Please who is owing who? 3 Likes |
| Re: Your Dormant Bank Account Could Put You In Trouble by deebsman1(m): 9:45am On Aug 05, 2015 |
Evidence of lost moral system everywhere, useless banks. |
| Re: Your Dormant Bank Account Could Put You In Trouble by helphelp: 9:46am On Aug 05, 2015 |
Oh yeah |
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