Reintroduction of Processing Fees on Cash Deposits

We write to inform you that, effective 1 May 2024, our processing fees structure on cash deposits has been adjusted in accordance with regulatory requirements.



As a result, the following rates will apply:

2% processing fee on deposits above N500,000 for individual accounts.
3% processing fee on deposits above N3,000,000 for corporate accounts.





Thank you for your continued support and patronage.



#FirstBankCares #EnablingYou

2% is too much.

2% of 500k is 10k. What if the 500k is my school fees that I want to keep in my account?

And whoever gave me the money was already taxed when he or she deposited money in his or her account before he or she gave me the 500k.

Anyways, there is a way out. I will deposit 400k that day and deposit 100k the next day.

Years ago when I didn't have a valid ID card and was working in a fuel station, I usually filled two or three tellers to deposit N5m and above into the same account because an ID card was required for such transactions.😀 One day, one banker insisted that I must use one teller since the whole amount was to be deposited into the same account. I called and oga had to come to the bank.😀

immortalcrown:
2% is too much.

2% of 500k is 10k. What if the 500k is my school fees that I want to keep in my account?

And whoever gave me the money was already taxed when he or she deposited money in his or her account before he or she gave me the 500k.

Na Waooo...

Nigerian banks make me laugh. Imagine paying to deposit money in my bank account when the bank will use my money to make more money for them self.

It's the ignorance of Nigerians that makes this possible. In most countries, banks pay you (interest) to deposit your money with them.

budaatum:
Nigerian banks make me laugh. Imagine paying to deposit money in my bank account when the bank will use my money to make more money for them self.

It's the ignorance of Nigerians that makes this possible. In most countries, banks pay you (interest) to deposit your money with them.

. Quite Unfortunate..Imagine First Bank ...Chai !

Naija With Extortion..

You're basically losing money saving money.. Incredible.