Pidggin:
It is all about g reed!

measideyhere:
u aint living up to your name
..

Heamah:
Please is it possible to transfer dollars from one domiciliary account to another person's domiciliary account of same bank within Nigeria without extra charges?

dennisworld1:
#NoTo50NairaBankDeduction

dennisworld1:
#NoTo50NairaBankDeduction

kenobi007:


no. u can't transfer from dorm account to another dorm account in Nigeria.

kenobi007:


no. u can't transfer from dorm account to another dorm account in Nigeria.

jogojogo:


Take it easy dear, @veraponpo was simply right. I speak out of experience and as a Banker with deep experience in FX transactions.
As at today, I processed School Fess transaction to an Institution in Republic of Ireland. The rate was N199.30.

bitingcool:
Some banks are yet to commence zero COT. If you have a zenith account. Go and reconfirm

DoctorTim:


Good afternoon Bro. U seem to know much about this so I'll have to ask you as you seem to be the most enlightened of the lot making comments here.
Please my sister is in Ohio and I'm tryn to pay her school fees though a part of it. About $4000.
What is the best way to get it paid at the CBN rate because I have one million naira for this purpose but if I pay at the BDC rate of 300 then I'll be a lot short of the 4k dollars but if I can get it at 199, I'll be able to even go beyond 4k dollars.
Please I'm new to this cos she's just gone there about 3 weeks ago. How do I get the best deal via a legit means to get this dollar exchanged at a minimal rate and get this fees sorted out?
Thanks and anticipating your response if you've got the time.

Pidggin:


I neva start to dey show mysef, for now, na forming levels i dey

Pidggin:


I neva start to dey show mysef, for now, na forming levels i dey

ibe9ja:


Banks that failed to comply with cbn's single TSA directives were fined huge sum of money

Bevista:
I do not dispute what you just said about your experience with the banks. However, I wouldn't call it fraud. I just think the CBN is not being very open and honest about the situation. The reality is that, due to falling oil price the FX available for CBN to continue supporting all these foreign transactions is limited. But instead of them to say it the way it is, they keep running around in circles.
---
Your experience with the banks is likely not the bank's fault. The banks realized that the CBN was not supplying enough dollars anymore for those qualifying transactions (LCs, BTA, school fees, medical bills, etc) even though the CBN kept telling everyone that it was still supporting them.

wealthprod:
i believe this is a topic we nigeria must treat seriously or else the bank are going to be taking us for a ride.
imagine Cbn selling dollar to the bank at the rate of 199 per dollar while bank in return will charge us at the rate of 301 or 300 per dollar when using your debit card to make transaction online

Nigeria let wake up and take this topic seriously because bank are not BDC but institution and they keep milking us this way
The best solution to this is to cry out and let the Cbn know what is happening so that the bank can be sanction for this

ibietela2:


Did CBN told you that they are not aware

pinkyruledworld:
thunder wey go strike those ones still dey gym especially that "orange bank"

veraponpo:
I do not think banks can do that because they are bound by BOFID/BOFIA. Because of the following reasons:

CBN sells at N197.

Banks do not sell at N301 rather it is BDC that does that.

There is inter-bank rates and that is within N198-201.

It is the parallel market that is selling above N300. There reason is because Nigeria as a country has very poor exporting ability. Our major export is crude oil and there is bad market for it now.

The demand and supply economics theory is working too. Demand for dollar is high and supply is low, therefore price is high.

ebenco2000:


this is correct , banks dont use CBN dollars to settle debit card payments, they source for that at the interbank market which is also very high now. Banks are not to be blamed.

mployer:

The banks don't get their fx from cbn, so cbn has no say in their exchange rate.

mohlanforex:
Be Inform, Gtbank Master Card Charge Me 198 To Dollar. Try Gtbank Naira Master Card And Give Us Feedback. I Use It To Fund My Forex And Binary Account.

doplove:


Unfortunately, I have evidences to show you that the banks (I have accounts with FCMB and GTB) charge more than the blackmarket whenever I use my cards for foreign transactions. It bemoans my spirit that this practice is only obtained in Nigeria. In Angola, where I work, whenever you use their bank cards to do foreign transactions what you get is based on their central bank rates but, Nigeria is a different story. We need to escalate this to the consumer protection agency.

Dyt:



Stop promoting false info
Even as low as the candy crush payment is
I get charged way above the 167

And I rem still using that same card sometimes October and was charged 230 even when the official rate is 198

solibayo:



God bless you bro......i don't know where that liar got that bogus exchange rate from.....abi is it not the same orange bank?


Its not hard to know fake posters paid by greedy corporations

onatisi:
how do u fund the dollars card? Buy blackmarket rate of 300 USD the put the dollars in ur usd account? Ok so when u pay with a usd dollar card what will be the bank rate ,blackmarket rate or cbn rate ?