Goldencheese:
May be you didn't notice or you get anointing for head that made them overlook you. Every 1,000 and above I send out or that is paid to me, they jejeli remove their N50 stamp duty. I don resign to fate.

It is well!

U must be using AMF current account as this is not applicable on individual savings account

Omooba77:
Thank you for contacting FirstContact.

We acknowledge the receipt of your mail and apologize for the delayed response.

Please be advised that Stamp Duty charges are in line with CBN directives which took effect from September, 2019.

Kindly note that each POS/Web transaction of N1000 and above now attracts N50 stamp duty charges.

For further enquiries on FirstBank’s products and services, please call/e-mail FirstContact through the details below:
0700 FIRSTCONTACT (0700 34778 2668228)

Lalasticlala we have enter gbese!

I tell you. The thing shock me too on Monday when I encountered it. They just wan frustrate poor for dis country.
Online businesses will be most affected. Imagine how konga, jumia etc will be affected
Even the mobile money that has been providing jobs for poor people will die a natural death will dis.

Goldencheese:
It's been ongoing now for almost two years. They charge N50 stamp duty on every transfer made through USSD, ATM or online. They do the same when anyone pays N1,000 or above in our account. The government has to rethink their revenue-generating model which seems to target the masses, leaving out the elite unscathed.

N50 Naira stamp duty for 1 Million Naira transfer and you are complaining?

Goldencheese:
May be you didn't notice or you get anointing for head that made them overlook you. Every 1,000 and above I send out or that is paid to me, they jejeli remove their N50 stamp duty. I don resign to fate.

It is well!

That was for online transfers. They've added online businesses. That is why POS are now affected

Omooba77:


No it is just now, I have been using POS for ages without issue, until last week and I started seeing extra N50

Little wonder i was debited #50 for a GtRescue withdrawal i did on a GtBank atm yesterday. It was treated like a POS transaction. Chai!

Buckubuck:

That was for online transfers. They've added online businesses. That is why POS are now affected

Thanks

Buckubuck:

I tell you. The thing shock me too on Monday when I encountered it. They just wan frustrate poor for dis country.
Online businesses will be most affected. Imagine how konga, jumia etc will be affected
Even the mobile money that has been providing jobs for poor people will die a natural death will dis.

Wrong assertions, 50 Naira will not kill a business or person, more revenue, more progress, more development. N50 stamp duty for your purchase from Jumia will not bend your wallet.

sapele914:
Wrong assertions, 50 Naira will not kill a business or person, more revenue, more progress, more development. N50 stamp duty for your purchase from Jumia will not bend your wallet.

See ehn zombie, this ain't the right time to quote me. If you don't want me to curse you. You fools will be defending government. Tell mi one thing, just one thing that the govt has gotten right in terms of its responsibilities to justify taxing the poor to death.
This same govt gave people 10k and you people hailed. Now you're saying N50 will not kill. That N50 will end up killing POS business take it or leave it!!

IT A SHAME THAT THE LIKES OF BAKARE, SOYINKA, FALANA ETC CAN'T CALL FOR PROTEST AGAIN because THEY ARE NOW DINNING AND DRINKING WITH THE DEVIL

kingkakaone:
What is wrong with these leaders we have in Nigeria today?
They think about tax or steal from the citizens.
Another scam is the yearly budget with no project.
SMH

Africans are the cursed descendants of Ham/ Canaan that were cursed in Genesis. They also want to tax/fine uber/taxify out if business. Africa's problem is spiritual. Africa is cursed. Read Genesis 9 & Genesis 10.

DennisEche:
[[s]quote author=Goldencheese post=83189056]It's been ongoing now for almost two years. [b]They charge N50 stamp duty on every transfer made through USSD, ATM or online. They do the same when anyone pays N1,000 or above in our account. The government has to rethink their revenue-generating [/b]model which seems to target the masses, leaving out the elite unscathed.[/s]
LIES FROM A ZOMBIE, THEY HAVE NEVER BEEN A CBN STAMP DUTY ON TRANSACTIONS ABOVE 1K. SHOW ME UR BANK STATEMENT WHERE YOU MADE A TRANSACTION OF 1K AND 50 NAIRA WAS DEDUCTED. ZOMBIES TRYING TO JUSTIFY THE DULLARD. FYI TRANSFER CHARGES IS DIFFERENT FROM CBN DUTY STAMP

It's not a lie. CBN announced it then. But it didn't affect online businesses. Only cash transfers and I think it was 5k and above then

Pavarottii:

Wen I use POS dey don't collect money... Which POS are u using? Or u didn't see September 2019 in d post?

POS used to collect 100 as charges for every 5k as third party transactions. Now they've added 50 naira stamp duty charges

DonFreshmoney:


I disagree with you on this.. Only average or Rich people use POS. Most poor people dont even own an ATM or cant even use ATM not to talk less of using a POS.. I Support the Government on this only if the money would be channelled to a better purpose.

That's not true. There are more POS in villages acting as withdrawal points where there's not even a single bank

1StopRudeness:



Justified deduction for u then.....but if they’ve been truly charging u 50naira for POS transaction and web transaction..... take it up with them...they will stop it....
I’ve moved my money to standard chattered...this week.... my insurance person told me about the bank...
the bank is the best bank...they behave like uk banks... they don’t charge for using other banks ATM and many other charges like....ATM is free just like Uk banks

this is supposed to be a law... a customer isn’t supposed to be charged for using another banks terminal since ur ATM network isn’t wide enuf.... no bank has ATM within a 10block mile radius hence these charges are not justified.....but this is Nigeria ....a lot of things are illegal

Sanusi removed that particular charge as CBN governor only for emefiele as a boy boy of the elites and cabal to reintroduce it

Goldencheese:
It's been ongoing now for almost two years. They charge N50 stamp duty on every transfer made through USSD, ATM or online. They do the same when anyone pays N1,000 or above in our account. The government has to rethink their revenue-generating model which seems to target the masses, leaving out the elite unscathed.

Current Account Only.
Havent seen such on any of my saving account in any of the banks i operate.

Omooba77:


No it is just now, I have been using POS for ages without issue, until last week and I started seeing extra N50

You mean N50 plus the normal N52 they charge? So they now charge N102 for transfer, I don't understand.

AJohnnasa

How many can they kill if we have a wide, willing people that will stand up against these political traitors subjecting the masses to untold hardship and broad day robbery?
But do we have a wide, willing people to bare this sacrifice? No we don't.
Our ranting ends on social media platforms. They even send threat messages or direct threat to those who makes so much noise on social media.
Well, let's keep living and lamenting

Stamp duty is a credit transaction above N1000 threshold chargeable against current account. Self transactions is exempted from stamp duty charges.

Goldencheese:
It's been ongoing now for almost two years. They charge N50 stamp duty on every transfer made through USSD, ATM or online. They do the same when anyone pays N1,000 or above in our account. The government has to rethink their revenue-generating model which seems to target the masses, leaving out the elite unscathed.

You probably use a current account and in that case they charge for deposits and withdrawals above ₦1,000.



In the case of the OP, they've started deducting/charging ₦50 for POS/Online transactions. This fees does not exist before. I've never witnessed or experience extra ₦50 deduction from my account even though I use POS and pay regularly online.



I think it's a new charge, except the OP is also using a Current account. But from the bank's reply, that's not the case.

Goldencheese:
It's been ongoing now for almost two years. They charge N50 stamp duty on every transfer made through USSD, ATM or online. They do the same when anyone pays N1,000 or above in our account. The government has to rethink their revenue-generating model which seems to target the masses, leaving out the elite unscathed.

This is a new one.

If u are a sane mind please say no to apc but if u are a fool continue to support and vote for them.

faceland:


Go and do a one man protect. I would love to read your story on Nairaland front page of how police reconstructed your face from a black man to a Chinese. Who knows, you might inspire someone.

Ok sir

Omooba77:


That is what we get because we are too tribalistic and sentimental added to docility

Not only docility but poverty and death. Nigerians are the worst I have ever known in terms of the stupid sentiments of all forms.

Pavarottii:

It's just started ... Stop misinforming people ... We never see anything.... As long as people still support d govt ... Ki lo kan mi...

Now they av done
VAT
Toll gate
Depositing of cash
Telecommunication tax
Increase in light by January
Now POS
and some hidden charges in our account
Increase in bag of rice

And all this to impoverish the common man... Day never break for those still supporting... Fuel price increase is coming soon by December...
They have about 10 more before next level finish... Den buhari third tenure , they will add another 10.. By that time we will revolute by force. And in all of these the recurrent expenditure for the executives has increased .. We never start ... People will apologise to GEJ.

Next level things

...⛑� 'revolute' spotted. 'Treasonable felony 'loading. He must also be a money launderer.���

Pavarottii:

It's just started ... Stop misinforming people ... We never see anything.... As long as people still support d govt ... Ki lo kan mi...

Now they av done
VAT
Toll gate
Depositing of cash
Telecommunication tax
Increase in light by January
Now POS
and some hidden charges in our account
Increase in bag of rice

And all this to impoverish the common man... Day never break for those still supporting... Fuel price increase is coming soon by December...
They have about 10 more before next level finish... Den buhari third tenure , they will add another 10.. By that time we will revolute by force. And in all of these the recurrent expenditure for the executives has increased .. We never start ... People will apologise to GEJ.

Next level things

better apology... ...the next level fools are all quiet..

isthatso:


what makes you think they are stupid?

The question you should ask is what is their motive?

If they are genuine in taking the country forward then they are stupid but the blame will lie on the people who voted for stupid people. When they were campaining did you ask serious questions? most likely no...because the focus on most of the electorate is which part of the country the candidates come from, and which religion.

If they are not sincere in moving the country forward, then they are not stupid because all they care about is themselves and this is not a stupid act from their point of view because it gives them more money to loot.

As you can see in both cases the real stupid people are the people who vote for these leaders.

very apt..

JubrinElSudan:
Interesting and I withdrew with my current account ATM card yesterday via POS. I have deleted the Alert they sent, I didn't check if they charged the #50

its theirs the deduct from, they do it lump sum at the end of the day. Total number of transactions above 1k x N50

Enjoy the change

Pavarottii:

It's just started ... Stop misinforming people ... We never see anything.... As long as people still support d govt ... Ki lo kan mi...

Now they av done
VAT
Toll gate
Depositing of cash
Telecommunication tax
Increase in light by January
Now POS
and some hidden charges in our account
Increase in bag of rice

And all this to impoverish the common man... Day never break for those still supporting... Fuel price increase is coming soon by December...
They have about 10 more before next level finish... Den buhari third tenure , they will add another 10.. By that time we will revolute by force. And in all of these the recurrent expenditure for the executives has increased .. We never start ... People will apologise to GEJ.

Next level things

3rd tenure gini? .... its impossible

charlesELIKIBA:


3rd tenure gini? .... its impossible

All these ones is increasing won't u av said impossible? Av u seen anyone or group succcessfully protested against this govt?

Oh