hotdi:
Yours is even better, Ecobank charge my savings acc monthly even when i didn't withdraw.

I just got an sms from ecobank recently stating that all charges on savings account has stopped. And I've confirmed.

9jaOfficial:
I just received a similar debit alert of 4,438 Naira for "Withdrawal Fee" in my savings account with First Bank.

Why not hide your account number?

decub:


Same here, I got 750+ debit for February and 250+ for March, right now, I have packed up my ATM, token and mobile app. Let me do justice to other banks, at least for now.

If it was a thousand or two, it wouldn't have made much impart with some people but deducting a million plus from a friends account in the name of withdrawal fee is crazy.
Another was charged 200k, another 500 plus... It is unacceptable.

omo I tire o, I thought I was the only one in this poo a whole 397naira from a poor guy like me? how much kon remain. there is Good o

419 Bank. I beg go and close your account and open GTbank account in which you can withdraw all your money.

VLadipo:
Hello all,

I first got the alerts in early March. I was debited a total of NGN105.00 for withdrawal fee on my SAVINGS account.

Confused, I went to my branch to complain. From time immemorial, we have always known (and were even taught in school) that savings account do yield monthly interests if you do not withdraw more than once from the account within a month.
Hence, I was surprised to get this explanation from the customer service person I met that I was charged withdrawal fee because I withdrew more than once from my savings account. The normal thing should be no interest for that month.
She further explained that the directive was from CBN and that deliberations were still ongoing on whether the policy should hold. She promised that a reversal of the deduction could take place.

Now, just some moments ago, I got 2 alerts indicating that I have been debited a total of NGN105.00 as withdrawal fee for the month of March.
This is in addition to the senseless,unrealistic charges debited from my account as payment for SMS alert every month.

Now, isnt that crazy?

Guys, please can you relate to all these as regards your savings account in your respective banks?

What do I do temporarily while I think of leaving Firstbank for good?

The charges on my savings account have become unbearable and disgusting.

Thank you.

Regards,
VLadipo.

afolakemi:


I just got an sms from ecobank recently stating that all charges on savings account has stopped. And I've confirmed.

That s better o because I have decided to withdraw all my remaining cash there and zoom-off to another bank b4 they finish am 4 me.

validcode2:
I had this same problem last month and got it resolved. I sent mail to firstcontact, complaints departmemt of firstbank and copied CBN with attached CBN Revised guide to bank charges of 2013 circular. Firstbank apologized and refunded the supposed monthly fee which constitute wrongful deduction. My account is savings.

Please, can I have the email address. I need to do same, right away.

I vex collect my own #105 bank shaperly. My wife was like you mailed CBN cox of #105 & I did the calculation for 3million customers not complaining

First Bank is just something else. I was shocked too. Got about 2k deducted from my account for withdrawal fee. And another for sms alert (that I don't receive). Somethin need to be done.

Are we sure the bank is not using fraudulence to escape distress? pls someone should research ds.

This new leadership of firstbank are heartless,they want to steal customers funds using charges as excuse.They have recently asked their atm custodians to work from 8 am -11pm with constant threath of sack..Upon all the profit they make they only promote those with strong connection with the ogas.

Close that account and locate GTB 0 naira banking services!

Do you use Internet banking

VLadipo:
Hello all,

I first got the alerts in early March. I was debited a total of NGN105.00 for withdrawal fee on my SAVINGS account.

Confused, I went to my branch to complain. From time immemorial, we have always known (and were even taught in school) that savings account do yield monthly interests if you do not withdraw more than once from the account within a month.
Hence, I was surprised to get this explanation from the customer service person I met that I was charged withdrawal fee because I withdrew more than once from my savings account. The normal thing should be no interest for that month.
She further explained that the directive was from CBN and that deliberations were still ongoing on whether the policy should hold. She promised that a reversal of the deduction could take place.

Now, just some moments ago, I got 2 alerts indicating that I have been debited a total of NGN105.00 as withdrawal fee for the month of March.
This is in addition to the senseless,unrealistic charges debited from my account as payment for SMS alert every month.

Now, isnt that crazy?

Guys, please can you relate to all these as regards your savings account in your respective banks?

What do I do temporarily while I think of leaving Firstbank for good?

The charges on my savings account have become unbearable and disgusting.

Thank you.

Regards,
VLadipo.

Hav u pple 4gotten that 1st Bank was fine #trillions for concealing money belonging to fed.government,they want 2 get that money back by fraudalent charges,some1 shld petition EFCC.

First bank and all 9ja banks are joke especially first bank,I try withdrawing about a week ago and atm say "temporally unable to dispense" but those idiots deduce ma money,I don complain tire,both online and I even went to d bank and was told it would reverse its been a week now yet ntn,I went there yesterday same story.the truth is that we are d ones serving the banks not the other way.

Shigobaba:
419 Bank. I beg go and close your account and open GTbank account in which you can withdraw all your money.

Sure, I have withdrawn the little change I have left. But closing it outright is difficult because of the token and internet banking I spent some money to set up with them. I think I'll just abandon the account for now.
I have GT Bank account just that I lost the ATM. But I think GTBank now allows the use of withdrawal slip within the banking hall. So it's alright.
It was PayPal that took me to Firstbank in the first instance.

hippyzuki:
Do you use Internet banking

Yes

All these useless banks send me the same unsolicited text message everyday on how to top up my airtime. Then they'll deduct alert fee,tax fee, admin fee at the end of the month. All these are efforts to frustrate the federal government who reduced the free money banks were getting from government bonds and introduction of TSA. Banks should look for clean and brilliant ways and ideas of making money, not this crude way they've employed.

kings09:
Close ur acct or withdraw all ur money n go open in anoda bank wit lesser charges. Nigerians like 2 complain n not act. Tnk God I neva open acct wit dem cos I was considering.

It's not easy to close the account like that. I use it mostly for internet banking and online payments. My clients already have the account number. But I'll just abandon it for now.

Themandator:



If it was a thousand or two, it wouldn't have made much impart with some people but deducting a million plus from a friends account in the name of withdrawal fee is crazy.
Another was charged 200k, another 500 plus... It is unacceptable.

Even the calculation they did for me at the bank is wrong cos they said it's 1/1000 multiplied by the cumulative of the debit transactions. Similar thing happened to me in January but that was monthly charge which they later reverted. I think they might revert this too.

VLadipo:


Yes

It happens to me as well. Anytime i transfer money to any account other than a first bank account i get charged 105 naira. Basically if u stop using the internet banking facility you would be fine

billyG:
Hav u pple 4gotten that 1st Bank was fine #trillions for concealing money belonging to fed.government,they want 2 get that money back by fraudalent charges,some1 shld petition EFCC.

I have even sent them a tweet and copied CBN and EFCC. Only if it can get retweets and go viral @decublala

shidof:
I used to think that i'm the only one, First have charged me for 2 consecutive months now, monthly fees and VAT apart from the normal exorbitant sms fees. Because of the fees, I refused to withdrawed from there bank last month, but to my greatest surprise, monthly fees was still deducted from my account and another #32.00 for SMS. Even d fidelity bank i used throughout the month only deducted #9.00 from my account.I think First Bank is now turning into a fraud bank. I'm still vexing till tdy by there last year mistake that forced me to collect 2 ATM cards within 6 months.

My brother, don't mind them. It's their new policy.
I called first contact and the lady that responded told me that they now charge monthly access fee in addition to the withdrawal fee.
The first time I went to complain at my branch, the customer care lady I met told me it's a CBN directive. Even today, she repeated it until I called First Contact. Such a liar!

If you have a proof of the deduction report to Consumer Protection Council (CPC)
@ www.cpc.gov.ng they attend to you promptly

hippyzuki:

It happens to me as well. Anytime i transfer money to any account other than a first bank account i get charged 105 naira. Basically if u stop using the internet banking facility you would be fine

No. This is aside the transfer charges. All banks charge NGN105.0 for online transfer.

Same things happened on my account yesterday..I withdraw 1000,first bank withdraw 210...Me don tired for first bank oh

VLadipo:
Hello all,

I first got the alerts in early March. I was debited a total of NGN105.00 for withdrawal fee on my SAVINGS account.

Confused, I went to my branch to complain. From time immemorial, we have always known (and were even taught in school) that savings account do yield monthly interests if you do not withdraw more than once from the account within a month.
Hence, I was surprised to get this explanation from the customer service person I met that I was charged withdrawal fee because I withdrew more than once from my savings account. The normal thing should be no interest for that month.
She further explained that the directive was from CBN and that deliberations were still ongoing on whether the policy should hold. She promised that a reversal of the deduction could take place.

Now, just some moments ago, I got 2 alerts indicating that I have been debited a total of NGN105.00 as withdrawal fee for the month of March.
This is in addition to the senseless,unrealistic charges debited from my account as payment for SMS alert every month.

Now, isnt that crazy?

Guys, please can you relate to all these as regards your savings account in your respective banks?

What do I do temporarily while I think of leaving Firstbank for good?

The charges on my savings account have become unbearable and disgusting.

Thank you.

Regards,
VLadipo.

Why should you be making withdrawals from your savings account for free when you get paid to keep money therein? Oh you thought banks just magically create the money that they pay as interest to those who do not withdraw? Or you thought savings accounts are a public service??

That 105 naira is even too small Mr.

SMH.

OK. Then I ll advise u always clear out ur money as soon as deposits hv bn made.i dnt blame them, it's d system dats encouraging dem. D system fights for dem rather than d citizens. Sumtin is definitely wrong wit dis country

VLadipo:


It's not easy to close the account like that. I use it mostly for internet banking and online payments. My clients already have the account number. But I'll just abandon it for now.

Dear Nairalanders,
I think the Nigerians need the intervention of the Federal Government to caution the activities of our banks. This extortion is getting too much. I also get the alert for the deduction of N979=00.

Kgdavid:


Why should you be making withdrawals from your savings account for free when you get paid to keep money therein? Oh you thought banks just magically create the money that they pay as interest to those who do not withdraw? Or you thought savings accounts are a public service??

That 105 naira is even too small Mr.

SMH.

Mr man, it is not by force to run a bank.

Banks by statute have a corporate social responsibility to provide a measure of 'free services' to their customers.
That's why banks unlike most businesses are regulated by the CBN. A bank cannot just spring up and close down anyhow.
Haven't I been charged for ATM? Don't I have a minimum balance of NGN1000 in their care?

All over the world and even in academic curriculum, current and savings accounts are clearly defined and have their unique characteristics and features. Banks are free to create their personalised banking products and treat their customers who patronise those products anyhow they like.

OBAGADAFFI:
LOL, so some people still believe in saving account interest.

Their is noting like saving account anymore, if you don't withdraw your money, the bank will help you withdraw the money through their charges.

That best why to save your money, is investing in funds that will protect the capital and add interests.

A dividend of at least 10 percent is better than Savings Account! And this is the period of getting dividends in the Nigerian Stock Exchange! #All banks are the same!

bemyguest:


With the above write up one can clearly deduced that you one of them.

With an unbiased mind, would you like not to be paid for services rendered to your clients considering your Operating Expenses, Staff Salaries and keeping your job with the Board? Banks are not NGOs. I'm not a banker but a businessman would knows everything we do must reflect positively at the "Bottom Line" of our Income statement.