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Monitoring Dollar Rate Ourselves (CLOSELY) - Technology Market (4) - Nairaland

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Re: Monitoring Dollar Rate Ourselves (CLOSELY) by sluvy4tune(m): 6:02am On Mar 19, 2015
tumababa:


then d rate was super high. as at this morning sterling still charged me ₦206.7



Sterling charged 206 ? Chisos

Access bank is the next big fraud


They charged me 225 as at Monday this week
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by senoreetah(f): 6:52am On Mar 19, 2015
tyconcepts:



It was via Aliexpress.

What i noticed is that, aliexpress use blackmarket rate, why ebay and paypal use official rates
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by Stanley08(m): 7:10am On Mar 19, 2015
sluvy4tune:




Sterling charged 206 ? Chisos

Access bank is the next big fraud


They charged me 225 as at Monday this week

I swear, I'm so glad that i didn't open an access bank account yet.

senoreetah:


What i noticed is that, aliexpress use blackmarket rate, why ebay and paypal use official rates

U probably have ur reason for saying this, but i think it's the same thing. It's the card issuer (ur bank) that decides how much they sell a foreign currency to u, depending on how much they buy from CBN.

1 Like

Re: Monitoring Dollar Rate Ourselves (CLOSELY) by stanley083: 3:01pm On Mar 19, 2015
As i told u guys, was gonna get my Diamond bank VISA Card today. i got it. But from the letter that came with it seems Diamond bank also charges 2.5% for International transactions just like ecobank does. But i wouldn't worry about it too much, I'm sure every bank adds their own charge afterall no one does business without gaining. Just to worry about their actual conversion rate now, anyways look at the letter below.

1 Like

Re: Monitoring Dollar Rate Ourselves (CLOSELY) by stanley083: 3:04pm On Mar 19, 2015
Btw, this is my second account, my main one is temporarily disabled from posting. So yh smiley
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by Tobiizzy(m): 9:14pm On Mar 19, 2015
Uba 224 for a dollar Wednesday 18th March
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by stanley083: 10:16pm On Mar 19, 2015
Tobiizzy:
Uba 224 for a dollar Wednesday 18th March

Mhen! we are in trouble oh. lol
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by Thespecialone(m): 4:22am On Mar 20, 2015
Gtbank master card
N209.997/$
March 20th, 2015 grin
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by Jeffy1206(m): 4:34am On Mar 20, 2015
Thespecialone:
Gtbank master card
N209.997/$
March 20th, 2015 grin
like seriously?
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by stanley083: 6:21am On Mar 20, 2015
Thespecialone:
Gtbank master card
N209.997/$
March 20th, 2015 grin

Lol. I guess now adays most people also want Alert value and Dollar value.
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by megamindmaster(m): 7:18am On Mar 20, 2015
stanley083:


Lol. I guess now adays most people also want Alert value and Dollar value.
Mine was 210.56 as at 19th, yesterday. GTB

1 Like

Re: Monitoring Dollar Rate Ourselves (CLOSELY) by stanley083: 8:18am On Mar 20, 2015
megamindmaster:

Mine was 210.56 as at 19th, yesterday. GTB

Seems GTB offers better rates compared to most.
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by sinebaba(m): 8:28am On Mar 20, 2015
I used zenith bank master card via paypal on eBay I was charged 199.80 today
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by codedmax(m): 9:14am On Mar 20, 2015
stanley083:


Mhen! we are in trouble oh. lol

Any update on Diamond visa bro
Fear don dey catch me to use my diamond visa, with all these rate I'm seeing

#deris........
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by stanley083: 11:52am On Mar 20, 2015
codedmax:


Any update on Diamond visa bro
Fear don dey catch me to use my diamond visa, with all these rate I'm seeing

#deris........

No money inside. Been trying to transfer money from my Ecobank since yesterday. been getting one Token generation issue. or some bullcrap like that. I'll try again now. It's an Ecobank issue.
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by megamindmaster(m): 12:07pm On Mar 20, 2015
i can't say o. there own dey their body atimes o.
stanley083:


Seems GTB offers better rates compared to most.
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by codedmax(m): 12:58pm On Mar 20, 2015
stanley083:


No money inside. Been trying to transfer money from my Ecobank since yesterday. been getting one Token generation issue. or some bullcrap like that. I'll try again now. It's an Ecobank issue.

Alright bro do well to update us on the situation.
tnks
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by stanley083: 1:24pm On Mar 20, 2015
I am here with an update already, and one that actually pleases me, hopefully it will please you all too.

As i posted yesterday, i got my Diamond Bank VISA Card yesterday and today I've had time to test run it. And I'm quite glad compared to the BS Ecobank is doing.

I decided to get the value an easy way, when you add your card to Google wallet (Play store), u are charged exactly $1.00. I did that and got this alert below.

Debit Alert!
Acc#: ******4951
Amt:204.08
Desc: GOOGLE *MARKETPLACE
Time:20/03/15 12:32 PM
Avail Bal: XXXXX :p

The money was refunded to me in a few minutes, because dats how it works. They only debit you to confirm it's a real card and it contains funds.

Then i added the card to Paypal and i got a similar alert as above, except the description as PAYPAL. ($1.00 card registration fee which will be refunded)
Finally i confirmed my card on PayPal, they charged me $1.95 and the alert below came in.

Debit Alert!
Acc#: ******4951
Amt:397.96
Desc: PP*XXXXCODE
Time:20/03/15 12:53 PM
Avail Bal: XXXXX :p

397.96 / 1.95 = 204.08.

So i can confirm for today that DiamondBank dollar rate is exactly 204.08 which in truth, i am very happy with. Considering the crazy rates ecobank feeds me.

Also, since Diamond Bank charges 2.5% of the amount as commission. It means their actual dollar rate is

= 204.08 / (1 + (2.5/100 x 1)
= 204.08 / (1 + (0.025 x 1)
= 204.08 / (1 + 0.025)
= 204.08 / 1.025
= 199.1 is their actual dollar value without their commission. Lol. Yes i sabi Maths well well. cheesy

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Re: Monitoring Dollar Rate Ourselves (CLOSELY) by stanley083: 1:25pm On Mar 20, 2015
Now I just want to find out how much their pounds rate is lol. I have unfinished business on Asos.
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by DAvIt0(m): 3:43pm On Mar 20, 2015
@stanley08 | @stanley083 Good feedback -- more reason to go grab a Diamond Account ASAP.


Good stuff

1 Like

Re: Monitoring Dollar Rate Ourselves (CLOSELY) by piscesgem(m): 5:39pm On Mar 20, 2015
sinebaba:
I used zenith bank master card via paypal on eBay I was charged 199.80 today

I dont know the problem with my paypal, my account has been limited, it was ok before, i even tried other cards same limited
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by stanley083: 8:21pm On Mar 20, 2015
DAvIt0:
@stanley08 | @stanley083 Good feedback -- more reason to go grab a Diamond Account ASAP.

Good stuff

Lol. Thanks mate. I think I'm okay with it being lower than GTB at least. DiamondBank's services are top notch. Their Mobile banking app is the best I've used too. So far, so good is what I'll say. Let's just hope that doesn't change. Really need pounds value. wonder what to do now...

2 Likes 2 Shares

Re: Monitoring Dollar Rate Ourselves (CLOSELY) by codedmax(m): 8:42pm On Mar 20, 2015
stanley083:
I am here with an update already, and one that actually pleases me, hopefully it will please you all too.

As i posted yesterday, i got my Diamond Bank VISA Card yesterday and today I've had time to test run it. And I'm quite glad compared to the BS Ecobank is doing.

I decided to get the value an easy way, when you add your card to Google wallet (Play store), u are charged exactly $1.00. I did that and got this alert below.

Debit Alert!
Acc#: ******4951
Amt:204.08
Desc: GOOGLE *MARKETPLACE
Time:20/03/15 12:32 PM
Avail Bal: XXXXX :p

The money was refunded to me in a few minutes, because dats how it works. They only debit you to confirm it's a real card and it contains funds.

Then i added the card to Paypal and i got a similar alert as above, except the description as PAYPAL. ($1.00 card registration fee which will be refunded)
Finally i confirmed my card on PayPal, they charged me $1.95 and the alert below came in.

Debit Alert!
Acc#: ******4951
Amt:397.96
Desc: PP*XXXXCODE
Time:20/03/15 12:53 PM
Avail Bal: XXXXX :p

397.96 / 1.95 = 204.08.

So i can confirm for today that DiamondBank dollar rate is exactly 204.08 which in truth, i am very happy with. Considering the crazy rates ecobank feeds me.

Also, since Diamond Bank charges 2.5% of the amount as commission. It means their actual dollar rate is

= 204.08 / (1 + (2.5/100 x 1)
= 204.08 / (1 + (0.025 x 1)
= 204.08 / (1 + 0.025)
= 204.08 / 1.025
= 199.1 is their actual dollar value without their commission. Lol. Yes i sabi Maths well well. cheesy

Wow!!!!

Superb rate , I just love this bank
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by sinebaba(m): 8:53pm On Mar 20, 2015
piscesgem:


I dont know the problem with my paypal, my account has been limited, it was ok before, i even tried other cards same limited
my friend had the same issue I don't know why
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by frebor(m): 11:54pm On Mar 20, 2015
stanley083:
I am here with an update already, and one that actually pleases me, hopefully it will please you all too.

As i posted yesterday, i got my Diamond Bank VISA Card yesterday and today I've had time to test run it. And I'm quite glad compared to the BS Ecobank is doing.

I decided to get the value an easy way, when you add your card to Google wallet (Play store), u are charged exactly $1.00. I did that and got this alert below.

Debit Alert!
Acc#: ******4951
Amt:204.08
Desc: GOOGLE *MARKETPLACE
Time:20/03/15 12:32 PM
Avail Bal: XXXXX :p

The money was refunded to me in a few minutes, because dats how it works. They only debit you to confirm it's a real card and it contains funds.

Then i added the card to Paypal and i got a similar alert as above, except the description as PAYPAL. ($1.00 card registration fee which will be refunded)
Finally i confirmed my card on PayPal, they charged me $1.95 and the alert below came in.

Debit Alert!
Acc#: ******4951
Amt:397.96
Desc: PP*XXXXCODE
Time:20/03/15 12:53 PM
Avail Bal: XXXXX :p

397.96 / 1.95 = 204.08.

So i can confirm for today that DiamondBank dollar rate is exactly 204.08 which in truth, i am very happy with. Considering the crazy rates ecobank feeds me.

Also, since Diamond Bank charges 2.5% of the amount as commission. It means their actual dollar rate is

= 204.08 / (1 + (2.5/100 x 1)
= 204.08 / (1 + (0.025 x 1)
= 204.08 / (1 + 0.025)
= 204.08 / 1.025l
= 199.1 is their actual dollar value without their commission. Lol. Yes i sabi Maths well well. cheesy

When the money was refunded, at what rate pls?
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by stanley083: 1:27am On Mar 21, 2015
piscesgem:


I dont know the problem with my paypal, my account has been limited, it was ok before, i even tried other cards same limited

I think you have to get your bank statement, scan and send to them or something like that. Ask around tho. Do a Google search.

codedmax:


Wow!!!!

Superb rate , I just love this bank


Lol. Good rate indeed

frebor:

When the money was refunded, at what rate pls?

Exactly the same amount. 204.08
See the alert below.

Credit Alert!
Acc#: ******4951
Amt:204.08
Desc: GOOGLE *MARKETPLACE
Time:20/03/15 12:50 PM
Avail Bal: XXXXX
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by frebor(m): 8:27am On Mar 21, 2015
Access bank
Visa card
Night of March 20
N210
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by frebor(m): 8:36am On Mar 21, 2015
stanley083:

Exactly the same amount. 204.08
See the alert below.

Credit Alert!
Acc#: ******4951
Amt:204.08
Desc: GOOGLE *MARKETPLACE
Time:20/03/15 12:50 PM
Avail Bal: XXXXX

GTBANK refunded a friend of mine at N199 some days ago. I got a refund yesterday at N214 on Access
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by stanley083: 9:10am On Mar 21, 2015
frebor:


GTBANK refunded a friend of mine at N199 some days ago. I got a refund yesterday at N214 on Access

From my experience, this is how i understand refund works.

If it's a failed transaction, say for example on time i wanted to buy shoes from one website in the US, www.dsw.com. My card was rejected, after i had already submitted and got an order processing email update. So in this case, the money never really left my account, it was pending but you couldn't use it because dats how it is normally. So i had to wait for the 'pending authorization' to fall off the card and the money was restored into my account. This took exactly 17 days, 23rd September to 10th October last year, i can remember vividly because my 50K was on the line. LOL. This was Access Bank GHANA tho. Anyways, this one is more of a reversal than a refund because dsw never collected the money in the first place when it got to them, they rejected it. It's just like when u try to withdraw money from ATM and u arw debited and the money never comes out. or when u try to buy credit on quickteller and u are debited but never get the credit. Trust me both has happened to me, got my money back tho. So basically, in a reversal, you get exactly the same amount.

Secondly, we have refund proper. In this case, you have paid the money and the merchant has received it. And then is sending the money back to you. Now here is the thing, when u are paying the merchant today for example. And the dollar rate is say 205 naira, the merchant doesn't know and doesn't care how much the naira value is, his own is that he is getting his own let's say $100. So meaning you spent 20,500. But if he needs to refund that money back to you, how much do u think he will pay? He isn't going to pay 20,500 because to start with he might not have even heard of naira before. He is going to pay $100 back to ur bank. When ur bank gets that money let's say next week on the 27th of March and their dollar conversation rate is 250, you will get back 25,000 and not 20,500. Same thing if new rate is 185. U will get 18,500.

I write facts i know, and from experience. Cheers! wink
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by Habeebpain(m): 12:36pm On Mar 21, 2015
stanley083:


From my experience, this is how i understand refund works.

Secondly, we have refund proper. In this case, you have paid the money and the merchant has received it. And then is sending the money back to you. Now here is the thing, when u are paying the merchant today for example. And the dollar rate is say 205 naira, the merchant doesn't know and doesn't care how much the naira value is, his own is that he is getting his own let's say $100. So meaning you spent 20,500. But if he needs to refund that money back to you, how much do u think he will pay? He isn't going to pay 20,500 because to start with he might not have even heard of naira before. He is going to pay $100 back to ur bank. When ur bank gets that money let's say next week on the 27th of March and their dollar conversation rate is 250, you will get back 25,000 and not 20,500. Same thing if new rate is 185. U will get 18,500.

I write facts i know, and from experience. Cheers! wink


But in a situation whereby they charge you with a different rate for purchase and use a different rate for refund, I think that's robbery. GTB refunded me at a rate of 199 but still charged 215 for transactions made that day.
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by stanley083: 1:06pm On Mar 21, 2015
Habeebpain:



But in a situation whereby they charge you with a different rate for purchase and use a different rate for refund, I think that's robbery. GTB refunded me at a rate of 199 but still charged 215 for transactions made that day.

You know, buying and selling rates are involved and stuff. You know what, I'm expecting a $1.95 or $2.95 refund from PayPal, if it comes in. Then i will compare it to the values from yesterday. Truth is u can never always get these things right, different banks have different policies. Someone said something about that earlier, might be a GTBank thing. Maybe not. However, i will report on the refund i get. if and when i get it.
Re: Monitoring Dollar Rate Ourselves (CLOSELY) by ibnquasale(m): 7:20pm On Mar 21, 2015
That yeye GTBANK just charged me 219.96 per dollar. I think I should just stay away from Gtbank and Access Bank for now.

I bought some goods a few weeks back and was charged 207 and thought that was the end of the deadeals. About 2-3 weeks later, the bank re-charged me at the rate of 225 claiming the merchant just came for his money.... that's daylight robbery.


Abeg, any sane bank with good dollar rate? I need them urgently.

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