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Banks Move To Limit Over-the-counter Withdrawals To N10,000 - Business (2) - Nairaland

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Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by greggng: 6:56am On Jun 13, 2016
cjrane:
[size=14pt]I am just enjoying how Buhari has been scattering Nigeria in the name of sham change.

Ibrahim Babangida once said he regretted annulment of June 12th because it made a major group feel unwanted as Nigerians.

Muhammad Buhari's stock in trade is seeking out vicious strategies to alienate and marginalize whole sections of Nigerians.

I am just watching him in HD to see how he ends. Buhari's regime and utterances will eventually enter history as "How to destroy a nation with unguarded bigotry"[/size]


He will suceed and it will be on record he suceeded in ur time. Negtive comments doesnot pay anyone. No reasonable person will want him fail except narrow minded bigots

7 Likes

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by amazingspiderma: 6:56am On Jun 13, 2016
Now they would have to charge more people @ least N1000 for allocating ATM cards. Then comes additional charges associated with the cards.

PMB see your life.......

2 Likes

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by gbaskiboy: 6:56am On Jun 13, 2016
Issorait ayam waiting nao
Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by DrMeroThaEmperor(m): 6:57am On Jun 13, 2016
Bad idea

1 Like

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by Nobody: 6:58am On Jun 13, 2016
cjrane:
[size=14pt]
Muhammad Buhari's stock in trade is seeking out vicious strategies to alienate and marginalize whole sections of Nigerians.

I am just watching him in HD to see how he ends. Buhari's regime and utterances will eventually enter history as "How to destroy a nation with unguarded bigotry"[/size]

1 Like

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by emperorchedda(m): 6:58am On Jun 13, 2016
MRSALT:
Buhari has finally destroyed the most robust economy in Africa just within one year. Some people will come now and say former administration is the cause. But in the history of Nigeria, there are times we had no foreign reserve and the sell of crude oil was as low as $35 dollars per barrel, yet banks did not regulate the amount of cash an individual could withdraw. May Nigeria never go Greece way. If you do not understand, the banks are indirectly saying 'there is no money' because people are withdrawing cash from their accounts in order to buy dollars from the black markets . Now, banks have no dollars to sell and they have no cash to give you.
please which time in our history did oil sell for $35 please I need to know

And what do you call 'destroy'? You mean reshuffling thing to rebuild them stronger?? Because that's exactly what PMB is doing

Sai Baba

5 Likes

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by obailala(m): 6:58am On Jun 13, 2016
Buhari must be blamed...

1 Like

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by eph12(m): 6:59am On Jun 13, 2016
MRSALT:
If you do not understand, the banks are indirectly saying 'there is no money' because people are withdrawing cash from their accounts in order to buy dollars from the black markets . Now, banks have no dollars to sell and they have no cash to give you.
That's not what banks are saying. They are saying there is no more money to pay the number of staff that can handle crowd inside banking halls so if you need money go to the ATM or use Internet banking for transfers

5 Likes

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by Nobody: 6:59am On Jun 13, 2016
matrix199:
So what's the essence of putting your money in the bank when you can't get the much amount you at anytime you need it?

Over the counter withdrawals.
They want customers to use the atm and e channels to reduce the population of customers that come into the bank to withdraw money.
This is the is really good and safer for everyone.
Why do people even hold so much Cash when you can transfer with ease

4 Likes

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by YoungExec: 7:00am On Jun 13, 2016
'Electronic' in a country where a vast majority haven't fully understood the basics.

Step 1: Connive with CBN to limit cash withdrawal to 10,000 Naira
Step 2: Declare redundancy among operations staff (since there is less work for them due to low customer numbers in banking halls)
Step 3: Push large portion of operation staff to marketing and set unsustainable targets for them.
Step 4: Sack most of the new marketers for failure to meet their targets.

I see right through them. This is exactly what will happen angry

3 Likes 1 Share

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by OlujobaSamuel: 7:02am On Jun 13, 2016
money laundering institutions. their atm will never work at optimum performance, yet they want you all to use it.

1 Like

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by gidjah(m): 7:02am On Jun 13, 2016
God go help us o
Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by ZUBY77(m): 7:03am On Jun 13, 2016
eleojo23:
Bad idea.
This will only work if the banks fulfil the following conditions.
1. Install more ATM's
2. Constantly load the ATM with cash so that it doesn't run out.
3. The network on the ATM must NEVER go offline.
4. Remove charges for using another banks ATM
5. Increase the ATM daily withdrawal limit to above N1 Million

ATM is not the target here, it's Internet banking.

5 Likes

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by eph12(m): 7:04am On Jun 13, 2016
mikolo80:
is Buhari a member of bankers committee. Why do you not read bfor you comment. It was in the first two lines. You cannot possibly be that lazy
The banks are only reacting to the present condition of the economy which is coordinated by the economic team headed by Mr President. They are not in the business to make loss so I don't blame them.

4 Likes

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by eph12(m): 7:04am On Jun 13, 2016
YoungExec:
'Electronic' in a country where a vast majority haven't fully understood the basics.
Then understand the basics. It can't be that hard.
Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by femmy2010(m): 7:05am On Jun 13, 2016
With the advent of Online banking, ATMs depositing and withdrawing etc it was certainly inevitable that less workers would be needed in the banking hall.
This is no president's fault I would say.

2 Likes

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by eph12(m): 7:06am On Jun 13, 2016
wapu:


Over the counter withdrawals.
They want customers to use the atm and e channels to reduce the population of customers that come into the bank to withdraw money.
This is the is really good and safer for everyone.
Why do people even hold so much Cash when you can transfer with ease
It's good and safer but the aim here is to reduce number of staff. With this more people will loose their jobs.
Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by bigtt76(f): 7:07am On Jun 13, 2016
The economy has always been on a false foundation right from time. We've only been deceiving ourselves that we had a robust economy when in actual fact we didn't. It only took the fall in oil price for that to expose us all.

Imagine the rebasing of our economy under the previous regime making it the biggest in Africa even when we depended solely on importation, poor power supply, low agricultural exports .....we were merely deceiving ourselves. The reality has now come clear to us and we MUST face it to become greater Nation tomorrow or chill out and continue to live a false life as a Nation.


MRSALT:
Buhari has finally destroyed the most robust economy in Africa just within one year. Some people will come now and say former administration is the cause. But in the history of Nigeria, there are times we had no foreign reserve and the sell of crude oil was as low as $35 dollars per barrel, yet banks did not regulate the amount of cash an individual could withdraw. May Nigeria never go Greece way. If you do not understand, the banks are indirectly saying 'there is no money' because people are withdrawing cash from their accounts in order to buy dollars from the black markets . Now, banks have no dollars to sell and they have no cash to give you.

7 Likes 1 Share

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by eph12(m): 7:07am On Jun 13, 2016
femmy2010:
With the advent of Online banking, ATMs depositing and withdrawing etc it was certainly inevitable that less workers would be needed in the banking hall.
This is no president's fault I would say.
So what do you think can be done to prevent people from loosing their jobs? Or you not concerned about that?
Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by melojo: 7:07am On Jun 13, 2016
Well this is how it goes down..u will b charged service fees for withdrawing through d ATM nd also post channels in the case bank increases there revenues and your cash in bank goes down.simply banks are trying to bail out there selves.

1 Like

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by Princepoint(m): 7:09am On Jun 13, 2016
awon alakoba Let go back to the old method Lol
Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by ranktzy(m): 7:12am On Jun 13, 2016
Pavore9:
No big deal. I recall when l went to my bank in Nairobi (Barclays) to withdraw, the lady across the counter was kind enough to remind me that l will be charged an equivalent of $6 for over the counter withdrawal, $6 that will get me 10 litres of milk! I had to go to the ATM.
You don't joke with your milk.. Lol
Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by IkpuMmadu: 7:12am On Jun 13, 2016
Nigerian banks are losing it

1 Like

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by deb(m): 7:12am On Jun 13, 2016
MRSALT:
Buhari has finally destroyed the most robust economy in Africa just within one year. Some people will come now and say former administration is the cause. But in the history of Nigeria, there are times we had no foreign reserve and the sell of crude oil was as low as $35 dollars per barrel, yet banks did not regulate the amount of cash an individual could withdraw. May Nigeria never go Greece way. If you do not understand, the banks are indirectly saying 'there is no money' because people are withdrawing cash from their accounts in order to buy dollars from the black markets . Now, banks have no dollars to sell and they have no cash to give you.

Ignorance speaking undecided

1 Like

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by rodbel(m): 7:13am On Jun 13, 2016
We blame Buhari for everything in this country. To start with, TSA is a good development in terms of how banking relates to the common man... long gone are the days of banks seeking cheap money by giving already made individuals credit facilities leaving the SMEs to fend for themselves... this has helped the economy in no way.

That said, Financial institutions should think of selling customer oriented and flexible credit products to confirmed SMEs to help develop and diversify our economy.

My 2cents!!!

2 Likes

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by henchmark: 7:13am On Jun 13, 2016
MRSALT:
Buhari has finally destroyed the most robust economy in Africa just within one year. Some people will come now and say former administration is the cause. But in the history of Nigeria, there are times we had no foreign reserve and the sell of crude oil was as low as $35 dollars per barrel, yet banks did not regulate the amount of cash an individual could withdraw. May Nigeria never go Greece way. If you do not understand, the banks are indirectly saying 'there is no money' because people are withdrawing cash from their accounts in order to buy dollars from the black markets . Now, banks have no dollars to sell and they have no cash to give you.
if your idea of a robust economy is when you carry money in "ghana must go" bags then kindly wake up from your slumber. if things are right equate N10000 to $10000 , then go ask how many americans withdraw that much if not via mobile or online platforms no one is saying you cant withdraw billions, do so via designated channels period.

1 Like

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by ForcefullBULL: 7:14am On Jun 13, 2016
eleojo23:
Bad idea.
This will only work if the banks fulfil the following conditions.
1. Install more ATM's
2. Constantly load the ATM with cash so that it doesn't run out.
3. The network on the ATM must NEVER go offline.
4. Remove charges for using another banks ATM
5. Increase the ATM daily withdrawal limit to above N1 Million

Even in America, you dont withdraw money from other ATMS for Free

1 Like

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by Pray(m): 7:14am On Jun 13, 2016
People will start keeping money at home. They will loose customers. No doubt.

1 Like

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by IkpuMmadu: 7:14am On Jun 13, 2016
emperorchedda:
please which time in our history did oil sell for $35 please I need to know

And what do you call 'destroy'? You mean reshuffling thing to rebuild them stronger?? Because that's exactly what PMB is doing

Sai Baba

There was a time oil w$35 during Jonathan era

1 Like

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by Nobody: 7:15am On Jun 13, 2016
MRSALT:
Buhari has finally destroyed the most robust economy in Africa just within one year. Some people will come now and say former administration is the cause. But in the history of Nigeria, there are times we had no foreign reserve and the sell of crude oil was as low as $35 dollars per barrel, yet banks did not regulate the amount of cash an individual could withdraw. May Nigeria never go Greece way. If you do not understand, the banks are indirectly saying 'there is no money' because people are withdrawing cash from their accounts in order to buy dollars from the black markets . Now, banks have no dollars to sell and they have no cash to give you.


Your level of comprehension is too low to be taken seriously. Read it again, then read it again and again. Then, relax and read it for the last time

3 Likes

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by arimahoseloka(m): 7:15am On Jun 13, 2016
How is this suppose to work with the high level of illiteracy in the land. Many people don't even believe in atm and Internet banking and to scared to use them because of fraud. Some can't even speak English. How is he suppose to operate an atm

1 Like

Re: Banks Move To Limit Over-the-counter Withdrawals To N10,000 by ZoggingMaster: 7:15am On Jun 13, 2016
I'm not here for politics but from what you said, you are the intellectual slowpoke. If the Bankers Committee approached the CBN as stated, does your educated mind not tell you that it's their way of responding to the pressure of the current economic crisis ushered in by Buhari’s administration? SMH
mikolo80:
is Buhari a member of bankers committee. Why do you not read bfor you comment. It was in the first two lines. You cannot possibly be that lazy

3 Likes

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