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What Is The Maximum Deposit And Balance For A Savings Account? - Business - Nairaland

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What Is The Maximum Deposit And Balance For A Savings Account? by andersonbaba(f): 6:25am On Nov 28, 2016
A friend of mine has a Savings account and he plans to use it for land transaction worth about 10million naira. the questions now are;
1. can 10 million naira be deposited in a savings account without query?

2. will he be able to make a withdrawal from the individual savings account without being arrested bt security operatives ?

3. will his account be frozen for some policies reason and where that happens, will he still be able to access his hard earned cash?

4. is there anything like maximum cumulative balance and if there is what is the maximum balance for a savings account

8 Likes 3 Shares

Re: What Is The Maximum Deposit And Balance For A Savings Account? by okenwa(m): 6:32am On Nov 28, 2016
Deposit the money piece by piece. Or give different depositors to lodge the money into the account

7 Likes

Re: What Is The Maximum Deposit And Balance For A Savings Account? by andersonbaba(f): 6:38am On Nov 28, 2016
okenwa:
Deposit the money piece by piece. Or give different depositors to lodge the money into the account

it is the buyer that will make the deposit to the agent. I don't think he might want to go through that stress and he might look a little suspicious

5 Likes

Re: What Is The Maximum Deposit And Balance For A Savings Account? by UrennaNkoli(f): 6:38am On Nov 28, 2016
okenwa:
Deposit the money piece by piece. Or give different depositors to lodge the money into the account
Even with that, if they suspect any sudden boom in your account balance, they'll call for your head and get the efcc involved. grin. Banks and ofofo are like bread and butter

54 Likes 4 Shares

Re: What Is The Maximum Deposit And Balance For A Savings Account? by andersonbaba(f): 6:45am On Nov 28, 2016
UrennaNkoli:

Even with that, if they suspect any sudden boom in your account balance, they'll call for your head and get the efcc involved. grin. Banks and ofofo are like bread and butter

that is the fear my dear. so I want to know if there is a way someone can go about this. as he cannot go and open a new current account due to the urgency of the matter

5 Likes 1 Share

Re: What Is The Maximum Deposit And Balance For A Savings Account? by Pieromania: 7:17am On Nov 28, 2016
why should u be afraid,people do play bettings and win huge sum deposited into an account that has never had a lodgement of 20k before and stil withdraw the money.if they cal u to come explain,go and explain yourself,it is normal.

153 Likes 10 Shares

Re: What Is The Maximum Deposit And Balance For A Savings Account? by andersonbaba(f): 7:17am On Nov 28, 2016
does anyone know how much is the maximum deposit for G.t Bank, Zenith and Diamond bank?

6 Likes

Re: What Is The Maximum Deposit And Balance For A Savings Account? by andersonbaba(f): 7:26am On Nov 28, 2016
Pieromania:
why should u be afraid,people do play bettings and win huge sum deposited into an account that has never had a lodgement of 20k before and stil withdraw the money.if they cal u to come explain,go and explain yourself,it is normal.

it is because of a colleague's terrible experience with a Nigerian bank after a lodgement of 1 million naira was paid to a savings account she opened during her university days.

6 Likes 1 Share

Re: What Is The Maximum Deposit And Balance For A Savings Account? by Sunnymatey(m): 7:28am On Nov 28, 2016
you hav nothing to fear, lodge ur money and if anyone calls u just explain hw u come by the money. Onece there's an evidence, u re good to go.

9 Likes 1 Share

Re: What Is The Maximum Deposit And Balance For A Savings Account? by sluvy4tune(m): 7:47am On Nov 28, 2016
Chill bro

I once had this encountered, go and discuss with your account officer that you are expecting such amount, if your account can take it they let you know, if it can not they will ask you to do an upgrade which cost not less than a proper means of identification.


Stay Fruitful.

137 Likes 5 Shares

Re: What Is The Maximum Deposit And Balance For A Savings Account? by andersonbaba(f): 7:57am On Nov 28, 2016
sluvy4tune:
Chill bro

I once had this encountered, go and discuss with your account officer that you are expecting such amount, if your account can take it they let you know, if it can not they will ask you to do an upgrade which cost not less than a proper means of identification.


Stay Fruitful.


#sighs... Banks and their wahala. Ok sir thanks

2 Likes

Re: What Is The Maximum Deposit And Balance For A Savings Account? by andersonbaba(f): 7:59am On Nov 28, 2016
Sunnymatey:
you hav nothing to fear, lodge ur money and if anyone calls u just explain hw u come by the money. Onece there's an evidence, u re good to go.


Chai!!! u say make e no fear? this is client's money ooo for a distress sale

2 Likes

Re: What Is The Maximum Deposit And Balance For A Savings Account? by baridamhoney(f): 8:39am On Nov 28, 2016
@lalasticlala ... put it on front page so that I can know the limit that my bank acct can take before some bank attendants begin to speak "turenshi" on my money grin

4 Likes

Re: What Is The Maximum Deposit And Balance For A Savings Account? by baridamhoney(f): 8:40am On Nov 28, 2016
sluvy4tune:
Chill bro

I once had this encountered, go and discuss with your account officer that you are expecting such amount, if your account can take it they let you know, if it can not they will ask you to do an upgrade which cost not less than a proper means of identification.


Stay Fruitful.

How did u solve your own matter?

2 Likes

Re: What Is The Maximum Deposit And Balance For A Savings Account? by andersonbaba(f): 8:46am On Nov 28, 2016
baridamhoney:
@lalasticlala ... put it on front page so that I can know the limit that my bank acct can take before some bank attendants begin to speak "turenshi" on my money grin


you are right dear. one of these bank officials might help us out before someone will create a thread of how he / she lost money to a bank

2 Likes

Re: What Is The Maximum Deposit And Balance For A Savings Account? by Pieromania: 8:48am On Nov 28, 2016
andersonbaba:


it is because of a colleague's terrible experience with a Nigerian bank after a lodgement of 1 million naira was paid to a savings account she opened during her university days.
it depends on the document he used in opening the account,if he opened a regular account with normal valid id card,like national id card,international passport,or driver's license,he cn operate millions.
Bt if it is nt a regular accnt then he has to upgrade the account to be able to accommodate such amount.

24 Likes 4 Shares

Re: What Is The Maximum Deposit And Balance For A Savings Account? by baridamhoney(f): 8:51am On Nov 28, 2016
Pieromania:
it depends on the document he used in opening the account,if he opened a regular account with normal valid id card,like national id card,international passport,or driver's license,he cn operate millions.
Bt if it is nt a regular accnt then he has to upgrade the account to be able to accommodate such amount.


So are u saying that it I only my id card that will be required to upgrade my account to accommodate millions and can it be done at any branch?
Re: What Is The Maximum Deposit And Balance For A Savings Account? by andersonbaba(f): 8:57am On Nov 28, 2016
Pieromania:
it depends on the document he used in opening the account,if he opened a regular account with normal valid id card,like national id card,international passport,or driver's license,he cn operate millions.
Bt if it is nt a regular accnt then he has to upgrade the account to be able to accommodate such amount.


then what is the essence of our BVN then?

3 Likes

Re: What Is The Maximum Deposit And Balance For A Savings Account? by baridamhoney(f): 9:31am On Nov 28, 2016
andersonbaba:



then what is the essence of our BVN then?


I don't know ooo
Re: What Is The Maximum Deposit And Balance For A Savings Account? by baridamhoney(f): 9:32am On Nov 28, 2016
andersonbaba:
A friend of mine has a Savings account and he plans to use it for land transaction worth about 10million naira. the questions now are;
1. can 10 million naira be deposited in a savings account without query?

2. will he be able to make a withdrawal from the individual savings account without being arrested bt security operatives ?

3. will his account be frozen for some policies reason and where that happens, will he still be able to access his hard earned cash?

4. is there anything like maximum cumulative balance and if there is what is the maximum balance for a savings account

sluvy4tune:
Chill bro
I once had this encountered, go and discuss with your account officer that you are expecting such amount, if your account can take it they let you know, if it can not they will ask you to do an upgrade which cost not less than a proper means of identification.
Stay Fruitful.

This guy may be right tho

4 Likes

Re: What Is The Maximum Deposit And Balance For A Savings Account? by pussypounder(m): 12:18pm On Nov 28, 2016
F**uck my school and F***uck my teacher too.....skruuuuuu skruuuuuuuuuuuuuuuuuuuuuuu yahoo+ take over cool cool

Meanwhile, win an iPhone 7 in my forum game https://www.nairaland.com/3490258/last-comment-wins-iphone-7

December Holiday Giveaway wink

15 Likes 2 Shares

Re: What Is The Maximum Deposit And Balance For A Savings Account? by KnightSucre(f): 12:18pm On Nov 28, 2016
0 naira
Re: What Is The Maximum Deposit And Balance For A Savings Account? by Nobody: 12:18pm On Nov 28, 2016
grin grin grin grin

My brother ever since I started burying my money in the ground nsogbu ndi ori a kusi gho...

The money Laundry Act has a clear definition on the maximum before your account gets flagged and minimum is 1000 Naira especially in one particular bank called...

2 Likes

Re: What Is The Maximum Deposit And Balance For A Savings Account? by SweetJoystick(m): 12:19pm On Nov 28, 2016
10m can be deposited as long as he has documents showing the value of the transaction
Re: What Is The Maximum Deposit And Balance For A Savings Account? by celestialAgent(m): 12:19pm On Nov 28, 2016
10 million, mmm will take that for sure!


grin grin

1 Like

Re: What Is The Maximum Deposit And Balance For A Savings Account? by omoadeleye(m): 12:19pm On Nov 28, 2016
Well. Saving account is meant for low income earners, where you can save some little amount let say below 40k and your friend is an average earner he should have opted for current account

2 Likes

Re: What Is The Maximum Deposit And Balance For A Savings Account? by ironMind: 12:20pm On Nov 28, 2016
I am know that you is not get minimum and maximum. Any money you is carry to bank, she is collect and deposit. Only if you is carried fake money then they is look it in their club blue light. It is show that it fake. They not collect.

3 Likes

Re: What Is The Maximum Deposit And Balance For A Savings Account? by daniska3yaro(m): 12:20pm On Nov 28, 2016
Hmmm
Re: What Is The Maximum Deposit And Balance For A Savings Account? by Nobody: 12:20pm On Nov 28, 2016
1. Can 10 million naira be deposited in a savings account without query? NO ---BREAK IT INTO TWO

2. will he be able to make a withdrawal from the individual savings account without being arrested bt security operatives ? NO ---DO TRANSFER

3. will his account be frozen for some policies reason and where that happens, will he still be able to access his hard earned cash? NO

4. is there anything like maximum cumulative balance and if there is what is the maximum balance for a savings account? DEPENDS

13 Likes 1 Share

Re: What Is The Maximum Deposit And Balance For A Savings Account? by haibe(m): 12:21pm On Nov 28, 2016
U don do yahoo con dey pretend abi.. lol

17 Likes 1 Share

Re: What Is The Maximum Deposit And Balance For A Savings Account? by wiloy2k8(m): 12:22pm On Nov 28, 2016
3 billion grin

3 Likes

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