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Nairaland Forum / Nairaland / General / Business / Can One Deposit Bank Draft Of One Bank Into A Savings Account Of Another Bank? (7251 Views)
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Can One Deposit Bank Draft Of One Bank Into A Savings Account Of Another Bank? by Ank(m): 8:01pm On Jul 09, 2010 |
Fellow Nairalanders, I have a joint savings account with my sister in Nigeria with both First bank and oceanic bank. Can I deposit a UBA bank draft or cashiers check generated in Abuja into this account in the same Abuja or must I have a current account to be able to do so. Please advise. Thanks Ank |
Re: Can One Deposit Bank Draft Of One Bank Into A Savings Account Of Another Bank? by sirp2007: 1:34pm On Jul 15, 2010 |
no. |
Re: Can One Deposit Bank Draft Of One Bank Into A Savings Account Of Another Bank? by Dvampire(m): 7:01pm On Jul 16, 2010 |
well, basically no. this is because a savings account is not created to have clearing powers like the current account. but these days, banks, like first bank have savings accounts that allows for some good degree of flexibility like a current account. First bank for instance, has the FIRST SAVINGS PLUS. this is an account that allows holders to pay in cheques, dividend warrants and drafts of other banks for clearing. u can also issue its cheque to a 3rd party. i advise u open a current account or go for the first savings plus. |
Re: Can One Deposit Bank Draft Of One Bank Into A Savings Account Of Another Bank? by Ank(m): 7:12pm On Jul 18, 2010 |
Dvampire: |
Re: Can One Deposit Bank Draft Of One Bank Into A Savings Account Of Another Bank? by kaybanwo: 12:27pm On Jul 19, 2010 |
You would need a current account for that. Cheers 08024027253 |
Re: Can One Deposit Bank Draft Of One Bank Into A Savings Account Of Another Bank? by effizy27: 9:46am On Jul 20, 2010 |
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Re: Can One Deposit Bank Draft Of One Bank Into A Savings Account Of Another Bank? by napa: 3:12pm On Jul 22, 2010 |
ekedon con: I don't think this subject or reply is meant for this post, learn the rules of sending or replying to posts, @Ank, it's very possible, i work with a bank and we have some hybrid accounts that accomodate such. 1 Like 1 Share |
Re: Can One Deposit Bank Draft Of One Bank Into A Savings Account Of Another Bank? by blessaff: 5:20am On Jul 28, 2010 |
yeah sure i belive it is posible |
Re: Can One Deposit Bank Draft Of One Bank Into A Savings Account Of Another Bank? by chikejude(m): 2:58am On Jul 29, 2010 |
Yes, just give them two refree's |
Re: Can One Deposit Bank Draft Of One Bank Into A Savings Account Of Another Bank? by Tinyemeka(m): 7:34am On Jul 29, 2010 |
If you have a Zenith savings account, simply tell the Customer Service person that you wish to upgrade ur Savings account, get two references from any two Current account holders from any bank and you are good to go. However dividend warrants can only be paid into accounts that have been running for at least 6 months. CBN policy. |
Re: Can One Deposit Bank Draft Of One Bank Into A Savings Account Of Another Bank? by Djswaggz(m): 3:09am On Aug 19, 2010 |
Busta Rhymes - Dangerous |
Re: Can One Deposit Bank Draft Of One Bank Into A Savings Account Of Another Bank? by 808: 11:12am On Aug 25, 2010 |
silly comment. |
Re: Can One Deposit Bank Draft Of One Bank Into A Savings Account Of Another Bank? by golamike: 3:20am On Sep 12, 2010 |
Yes, on one condition - Only if the savings account was referenced @ the point of opening it. Otherwise you may need to upgrade it or forget about it. |
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