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Re: Extortion By Intercontinental Bank PLC by agitator: 11:40am On Aug 09, 2009 |
factsman: Are you implying that in other countries where they don't charge there is no running cost? |
Re: Extortion By Intercontinental Bank PLC by frankdelis(m): 12:12pm On Aug 09, 2009 |
there's no doubt that the melt down is eating deeep into the economy but the banks are distressed. some fraudsters hv started clonning ATM cards. Once they sight a particular code on ur ATM CARD,they clone it nd make withdrawals. it may be difficult for them with chip and pin protected cards. thus, the CBN directive. On money paid on cards, some banks could issue this cards free on account opening but there charges on renewal. |
Re: Extortion By Intercontinental Bank PLC by kpofkpof: 2:29pm On Aug 09, 2009 |
Shaunscot: Thank you very much @Factsman- Well spoken!! Thank goodness i have supporters!!! Anyway i spoke with so much venom because of all the recent attacks on our banks by Nairalanders and if i have offended some people, i SINCERELY APOLOGISE, but i think we should be mindful of the way we speak at times especially about banks in nigeria. Boredom should not make one open a thread just to speak bad about a bank. Anyway my advise is this- if you are not happy about a bank, just quietly move to another, at least if they loose about 50% of their customers, they would definitely have a second look at their policies. Someone mentioned, Zenith bank that charges you N65 while using their own ATM, why dont we hear so much noise about that, why Intercontinental? We are not being fair on IBPLC!!! Lets think about it, its someone's business you are all trying to run down. |
Re: Extortion By Intercontinental Bank PLC by Shaunscot(m): 2:38pm On Aug 09, 2009 |
agitator: My point exactly. You cant compare the running cost here in Nigeria to that of other countries. While there is no power,internet and high rent in choice areas, in developed countries you have constant electricity, free Wireless Hot-spots and I'm sure u cant compare rents. Why I included rent is because I'm privy to information that a bank had to withdraw their ATM in the Galleria just because the Bruces were requesting a 2M per annum rent (for an ATM space) - Its that bad. Now back to the issue on ground Unlike the magenetic stripe cards that cost these banks close to nothing to issue, these chip cards come with an extra cost.Like the popular saying that 'soup wey sweet, Na money do am'. Now are the banks to blame for responding to the high increase in fraud rate?Or are they to blame for going along with the CBN directive? Before anyone casts a stone - I dont work in any of these Banks.I have a lot of friends who do though. nues aweso: I get your drift.I'm defending her opinion. I guess she just didnt communicate it in the right way. kpofkpof: I'd suggest you dont insult people when trying to voice your opinion. Demarketing is not new in Nigeria, Remember the Procter and Gamble Story on Sanitary pads? Even ValuCard is doing that right now claiming that their VPay cards are the only EMV Cards (VPAY and VERVE cards are manufactured by Gemalto - Who I know manufacture Glo's SIM cards). I believe its just insecurity on some parties. Truth is - If ur Brand is good, it will speak for itself. If Intercontinental Bank is as weak as people say it is - then time will tell. |
Re: Extortion By Intercontinental Bank PLC by koolguy88(m): 2:51pm On Aug 09, 2009 |
i'm a staff of this bank and i promise you that management is currently making plans to refund any acct that was charged N500 for verve card. bank branches are to bear the cost. please bear with us. HAPPY CUSTOMER, HAPPY BANK. |
Re: Extortion By Intercontinental Bank PLC by kpofkpof: 3:01pm On Aug 09, 2009 |
Shaunscot: Well Said!!!. Thank you very much Nairalanders- I Apologise. |
Re: Extortion By Intercontinental Bank PLC by utotomi10(m): 3:06pm On Aug 09, 2009 |
I tried to close my account and they told me they have no branch manager n said i should come back in 2 weeks. 2 weeks later it was the same story. One of the workers wanted me to pay them 2000 to help me close the account. Please take note this was in maza maza branch in lagos. |
Re: Extortion By Intercontinental Bank PLC by zmurda(m): 3:38pm On Aug 09, 2009 |
Shaunscot: I think you'll find out the average cost of running an ATM is much the same as that of Nigeria. For your information nobody is gonna give banks free wireless hotspots. Even if you give them they won't take it. Its too unsecured. The banks in the UK and US have to pay loads of money for the prime spaces they occupy. The cost of staff per hour in a bank is much higher. I think you are bringing a lot of crock and sentiments into this. If you are not informed shut the heck up! It is said, we can consider a fool a philosopher when they keep quiet too! All I can say is the banks in Nigeria are doing business the wrong way. Its very unethical to charge people for ATM cards, when they still charge people for withdrawing at their branches and in some cases a monthly charge for having ATM cards. Just completely senseless!! |
Re: Extortion By Intercontinental Bank PLC by Vladmir2: 3:48pm On Aug 09, 2009 |
The most important thing security wise,with regards to ATMcards whether vervecard or magnetic stripe cards is,never disclose not only your PIN,but also your CARDNUMBER to a thirdparty and always ensure you use your DEBITCARDS on secure websites. |
Re: Extortion By Intercontinental Bank PLC by decworld1: 5:52pm On Aug 09, 2009 |
i have fed up with intercontinental bank |
Re: Extortion By Intercontinental Bank PLC by ogahimself(m): 6:12pm On Aug 09, 2009 |
kpofkpof: On behalf of all apology accepted and I admire the fact you did so . |
Re: Extortion By Intercontinental Bank PLC by mybad: 7:39pm On Aug 09, 2009 |
I wonder what that bank derives from being so shaddy. Remember they only just reduced their minimum required balance for savings account opening. Their interest rates are by far alarming too. Not to talk of the ripping you experience when you visit their outlets if you're not careful. |
Re: Extortion By Intercontinental Bank PLC by Lamgbasa: 8:10pm On Aug 09, 2009 |
Does anyone of us bother to read the terms and conditions applicable to any product or service rendered by any of our banks?People apply for debit cards,internet banking and even open accounts with commercial banks without reading the Ts&Cs applicable.If the Ts & Cs is not printed behind the application form then the customer should ask before appending his/her signature.Having a debit card is not compulsory.If IB Plc asks for a token before a chip based card is produced for any of it's customers, it's up to the customer to decide if he/she wants to continue using the product or not. Some Nigerians are very careless with their bank details and whenever a fraud is committed they believe the Bank is liable.If IB Plc wants to make our ATM transactions safer, I personally don't see any big deal if I'm asked to pay a token to enjoy safer banking services. Nice week ahead to y'll. |
Re: Extortion By Intercontinental Bank PLC by playahP(m): 9:26pm On Aug 09, 2009 |
I actually sent the money through U.B.A. |
Re: Extortion By Intercontinental Bank PLC by Shaunscot(m): 9:57pm On Aug 09, 2009 |
z-murda: Point taken and thanks for correcting me.My bad. While I wont stoop low enough to tell you to shut the heck up, I'll still go ahead to defend my point that you cant compare operating costs. Maybe NOT wireless hotspots in the UK but infrastructure-wise,its still cheaper. I wouldnt know about the US but in the UK,You can get internet for as cheap as 15GBP a month.The cheapest Internet service in Nigeria costs more than that. Also, the rents you try to compare - I know of regulations (rental caps) for certain areas in the UK and while I wouldnt know if there is a regulation for ATM rent space, there sure as hell isnt in Nigeria. I have nicely made my point (without resorting to insults).I believe you should do same next time. |
Re: Extortion By Intercontinental Bank PLC by Finecat(m): 10:25pm On Aug 09, 2009 |
playah P: Wow what a story, very hard to believe because i thought the maximum amount of money you can wire overseas from the USA is $5000! I even tried to send $5400 to Nigeria for a project before and i was denied by western union. I was told that the federal regulations do not permit any amount over $5000. I was told it's another tool the federal government is using to prevent money laundering. I very much doubt that you can send $10000 at once. Naija people and lies sha. |
Re: Extortion By Intercontinental Bank PLC by meerkat(m): 10:41pm On Aug 09, 2009 |
I think it has to do with an institution where there are no laid-down rules on certain transactions. For all I know most banks take one form of charge or the other to stay in biz, eg. Finbank charge N100 monthly for their cards irrespective of the number of times the cards were used. Intercontinental debits N50 each time u make an ATM transaction. Its a matter of choice but then CBN should look into it, I believe a form of uniformity can bring an end to these irregularities. Nairalanders should also endeavour to use subtle word to drive their points we musn't call names. |
Re: Extortion By Intercontinental Bank PLC by frag(m): 11:05pm On Aug 09, 2009 |
Finecat:lololololo. |
Re: Extortion By Intercontinental Bank PLC by playahP(m): 11:15pm On Aug 09, 2009 |
GOOD, anybody can come up and make up any story, i have'nt used intercontinental bank before but i don't think everything people say bout them is true. @fine cat YOU generalized your statement, NAIJA people are truthful and honest. You should not generalize it cos i lied, most of you people criticize banks instead putting up suggestions on ways check it, I was hoping that the first person to comment would pounce on what i said and probably use it to criticize UBA. its easy for anybody to make-up any story like i did, |
Re: Extortion By Intercontinental Bank PLC by nuesaweso(f): 11:58pm On Aug 09, 2009 |
@playah p Did you actually lie?? |
Re: Extortion By Intercontinental Bank PLC by Donvilo(m): 7:46am On Aug 10, 2009 |
Some customers do make things for uneasy for these banks. But I don't think one would prefer losing his or her money to fraudsters over some certain payments made by these financial organisations. I mean by saying that one who is ready to do anything to keep his or her money safe. At times, so of these banks do frustrate people. |
Re: Extortion By Intercontinental Bank PLC by sirp2007: 8:52am On Aug 10, 2009 |
pls if any bank charge you for any service and you are not ok with it kindly close the account and move to other bank.we (nija)should stop this habit of free things it does not promote devt.if the market is not monopolistic you don`t need to complain you simply leave them and go to their rival. |
Re: Extortion By Intercontinental Bank PLC by mayrho(m): 8:56am On Aug 10, 2009 |
I found out we have plenty selfish retards in this country. Reason why we have many issues unsolved |
Re: Extortion By Intercontinental Bank PLC by tayoTFC(m): 9:32am On Aug 10, 2009 |
@ kpofkpof ( pof pof ) If you are following trend of things, even in the UK, US etc, they are trying to fight fraud, they are introducing and re-introducing all measures in place to curtail fradulent activities. Intercontinental is trying to safe guard your money- get that into your dead brains. lets call a spade a spade, banks are not suppose to charge u for issuing debit/credit card, they can only charge u token for replacement if the card got lost or damage, as a measure /control to ensure that customer keeps their card with care. ( source CBN Directive) so case closed. |
Re: Extortion By Intercontinental Bank PLC by Shaunscot(m): 10:08am On Aug 10, 2009 |
tayoTFC: I believe this is the line you are referring to in the CBN directive No card issuer or its agent shall bill or charge a customer for an unsolicited card unless and until after the card is fully activated by cardholder You have the right to return your card and request for your money. Once the card is activated,they have every right to charge you for the card. |
Re: Extortion By Intercontinental Bank PLC by Nezan(m): 12:10pm On Aug 10, 2009 |
Nigerian banks,,,,,,,,always defrauding their customers. |
Re: Extortion By Intercontinental Bank PLC by bebe4u(f): 12:23pm On Aug 10, 2009 |
Banking in Naija is a necessary evil, i personlly dont have love fo bankers, there are always out to cheat you in any transaction. i bank with intercontinental bank, my cheque book was printed with wrong serial number, yet i was charged for it, i pointed out the mistake to them when i had problems using it in another branch, i was asked to make a fresh aplication for another one. i did that and the bunch of hustler called workers in the bank repeated the same error, yet i was still charged for it. I had similiar issues with access bank, but this time two cheque booklets was printed and my account deducted when i didnt make any request, my atm was deactivated for two months, yet i was receiving sms for atm account maintenance. i felt bad after several reports to address the situation yield no friut and made to move my close my account with the bank, bam the my account officer didnt let me rest as he told me , if he losses me as a customer, he will be sacked. For all those making comments of putting your money in your pillows, the bank wont let you rest from sending hoards of bleached skin ladies after you irrespective of your gender. Our saviour is the Govt and the bank regulators. |
Re: Extortion By Intercontinental Bank PLC by ohisng(m): 12:42pm On Aug 10, 2009 |
Same thing with First Bank. Someone stole money from my account using ATM and the bank sent me SMS alert 24 hours AFTER the scam had been done!! First Bank siluko road, Benin City, Edo State. |
Re: Extortion By Intercontinental Bank PLC by cutemoses(m): 1:23pm On Aug 10, 2009 |
Our problem in this country is that we just want everything to be free. So what then is the use of money? If you cannot cope with the way banks are behaving now in the present economy, i suggest you dig a hole in your house and hide your money inside. You dont expect to buy a home theatre with 3 speakers for 15000 and then when you want to buy one with 6 speakers it will be the same price, NEVER. Everything is on High now from tomatoes to building materials, so thats just the way it is. I'v been a customer of IBPLC for 4 years and so far so good i'v not had any problem with them. I only get to pay 50 naira for any ATM withdrawal and i'm ready to pay 50 naira than stand in a long queue. And you should have come up with a better Subject like "extra charges by intercontinental bank" instead of "Extortion" It just shows your aim is to damage the banks name rather than make a complaint. |
Re: Extortion By Intercontinental Bank PLC by stagger: 1:51pm On Aug 10, 2009 |
Hmm! So after some people work hard and design new technology to eure safety of customer's funds, are the banks supposed to pay them with sand? I personally do not like some of the extortionist charges of Nigerian banks, but I am with them on this one. It costs money to design the technology, money to deploy it to the cards and money to deply for public use. Also costs money to maintain the security network too. Don't forget a lot of ATMs are not powered with public electricity from PHCN. We can't always have everything free. |
Re: Extortion By Intercontinental Bank PLC by oljacobs: 3:42pm On Aug 10, 2009 |
Problem with our banks is dat they are not innovative. They cannot come up with products that customers want. For this reason they are always looking for ways to make more money from existing customers. That explains why they charge for issuing chip and pin cards. In the UK a few years back, these cards were issued free of charge. Other perks you get with opening a current account includes free insurance for your mobile phone, home content insurance, free break down cover and some even go as far as creditting your account with 50 pounds just for opening an account - No questions asked. These banks are able to offer mouth watering products cos they partner with other companies to give customers products they need. That way the bank can do business with its customers money and at the same time satisfy the customer. Same cannot be said with our Nigerian banks. |
Re: Extortion By Intercontinental Bank PLC by speeddater: 4:50pm On Aug 10, 2009 |
Stop complaining about your bank. If you are not satisfied then do your research and change to another that u will like. They are all not the same u know. Just decide those things that are important and compulsory for you to have in ur FI, do ur reaserch and chnage to a bank hat will give u just that. Finish! stop complaining about Intercontinental this, intercontinental that. If u are not happy, change! No be by force now. |
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