The Many Faces Of Bank Charges Paid By Nigerians - Business (3)

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The Many Faces Of Bank Charges Paid By Nigerians - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / The Many Faces Of Bank Charges Paid By Nigerians (41733 Views)

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Re: The Many Faces Of Bank Charges Paid By Nigerians by Oluwapresley(m): 6:36pm On Oct 25, 2019

FaithFighter:

Dear Solomon8144,

If you have any issue with Ecobank (or any other bank for that matter), it's in your best interest u reach the bank on any of the aforementioned customer service points (Branch, Social Media handles, Call Centre-07005000000, Livechat on Mobile App and Web) for amicable resolution. That would be a better alternative than giving the bank (or any other bank) a bad name.

I agree with you Faithfighter

I also have not had any issues with Ecobank especially as regards unexplained deductions.

As suggested by Faithfighter, try getting in touch with any of the quoted helplines.

1 Like

Re: The Many Faces Of Bank Charges Paid By Nigerians by Angelfrost(m): 6:37pm On Oct 25, 2019

RealLordZeus:

I totally agree! I can't even account for their charges again, I ve decided to set aside #500 for them every month. Corporate robbers

The way banks are going, na to return to old school pattern of home or underground savings.

1 Like

Re: The Many Faces Of Bank Charges Paid By Nigerians by liverpudian9(m): 6:40pm On Oct 25, 2019

These are the various source of income banks made from various types customer

Re: The Many Faces Of Bank Charges Paid By Nigerians by Binturong: 6:41pm On Oct 25, 2019

I was surprised when Access bank told me I have to leave #5000 as my balance yesterday, another scam is that if you do a transfer and it fails or bounce back,banks will still charge you if it is inter bank

1 Like 1 Share

Re: The Many Faces Of Bank Charges Paid By Nigerians by Oluwapresley(m): 6:44pm On Oct 25, 2019

CaptainMitch:
Its my salary account and my only bank account that has an ATM card attached to it so I rely on this for most of my transactions. I will be switching to GTBank I use email alerts for this account and they are quite efficient, I hardly have failed transactions.

Well, I can't say about GTB. Although I have an account with them, I hardly ever use it as my Ecobank accounts (Salary Account and Savings Account) have been superb. Funny enough I was having a discussion with one of my friends who works with a financial institution and maybe I should just share our chats. Second thought, naaah.

Hopefully, the issue with sms gets solved and you get back to enjoying Ecobank... Cheers boss!

Re: The Many Faces Of Bank Charges Paid By Nigerians by deltateam: 6:47pm On Oct 25, 2019

dre11:

https://www.dailytrust.com.ng/the-many-faces-of-bank-charges.html

The bank charges discussed here are not exhaustive. Let us know what you think as you make comments.

First bank is exploiting customers by imposing ATM verve card on them. I hate them!

Re: The Many Faces Of Bank Charges Paid By Nigerians by deltateam: 6:48pm On Oct 25, 2019

Oluwapresley:

Well, I can't say about GTB. Although I have an account with them, I hardly ever use it as my Ecobank accounts (Salary Account and Savings Account) have been superb. Funny enough I was having a discussion with one of my friends who works with a financial institution and maybe I should just share our chats

Banks exploit customers through these phony charges and use it to pay their workers and stay profitable.

2 Likes

Re: The Many Faces Of Bank Charges Paid By Nigerians by Nobody: 6:51pm On Oct 25, 2019

lmm4real:
Access Bank comes to mind easy, those guys are just bad. I had to abandon the account for them

lwkmd

Re: The Many Faces Of Bank Charges Paid By Nigerians by bikerboy1(m): 6:53pm On Oct 25, 2019

noblealuu:
What is vexing me is that I was charged ₦50 extra for a bread of ₦450 I bought via POS today.

I have told the salesperson that next time I'm coming I'll do cash payment.

That ₦50 will make more sense to give to the street beggars in lieu of crooks in Banks and govt...

Wait!!! Do they charge you 50N when you use POS?

Re: The Many Faces Of Bank Charges Paid By Nigerians by don4real18(m): 6:59pm On Oct 25, 2019

UBA charges N11 for transferring to other banks with its app unlike others that charge N50+

Re: The Many Faces Of Bank Charges Paid By Nigerians by Nobody: 7:05pm On Oct 25, 2019

Homeboiy:

I don't have your time

Cc solomon8144
Captainmitch

Homeboiy don vex

Re: The Many Faces Of Bank Charges Paid By Nigerians by 1money: 7:10pm On Oct 25, 2019

Imagine N65 everytime you withdraw from another bank ATM.

Is it now a crime to use the nearest ATM to your house?

1 Like 1 Share

Re: The Many Faces Of Bank Charges Paid By Nigerians by Oluwapresley(m): 7:11pm On Oct 25, 2019

1money:
Imagine N65 everytime you withdraw from another bank ATM.

Is it now a crime to use the nearest ATM to your house?

Hahaha.... It is a crime oooo

Re: The Many Faces Of Bank Charges Paid By Nigerians by nextstep(m): 7:14pm On Oct 25, 2019

These charges sef... one wonders why use a bank...

You can recover 100% of the money you put away under your bed or in a piggybank.

But this is not quite accurate... if I want to send money to somebody, I can either do it electronically, or enter transport to go to bank to get money (especially if I don't have ATM card). The I enter transport to meet the person. The time and transport are not zero cost... some of my money will get spent on that physical transfer. The limits for depositing and withdrawing (5% total: 3% for you, and 2% for the person who will inevitably deposit it), cash actually serve as deterrent, so people will just transfer money without the intermediate cash stage.

What I don't understand is why transfers are not significantly cheaper? There's a charge to transfer no matter the amount, yet the cutoff for cash starts at 300k. Meaning it's zero change to physically move 100k, yet about 2k to transfer that same amount electronically. That's what's making my head itch.

2 Likes

Re: The Many Faces Of Bank Charges Paid By Nigerians by nextstep(m): 7:16pm On Oct 25, 2019

These charges sef... one wonders why use a bank...
I pay for ATM, then pay to withdraw from another bank (after 3x), then also pay my own bank 2% for withdrawing (albeit above 500k)...

You can recover 100% of the money you put away under your bed or in a piggybank.

But this is not quite accurate... if I want to send money to somebody, I can either do it electronically, or enter transport to go to bank to get money (especially if I don't have ATM card). The I enter transport to meet the person. The time and transport are not zero cost... some of my money will get spent on that physical transfer. The limits for depositing and withdrawing (5% total: 3% for you, and 2% for the person who will inevitably deposit it), cash actually serve as deterrent, so people will just transfer money without the intermediate cash stage.

What I don't understand is why transfers are not significantly cheaper? There's a charge to transfer no matter the amount, yet the cutoff for cash starts at 500k. Meaning it's zero change to physically move 100k, yet about 2k to transfer that same amount electronically. That's what's making my head itch.

1 Like

Re: The Many Faces Of Bank Charges Paid By Nigerians by amagugm: 7:26pm On Oct 25, 2019

I left#6000 in an Access bank account and when l noticed how they were cutting it l refuses to increase the deposit.
They continued deducting the money until they exhausted it. I abandoned the account with them. They called me severally, send many enticing messages but I never returned. I was so disappointed when they had to acquire my bank recently and l find myself in their net again.

3 Likes 1 Share

Re: The Many Faces Of Bank Charges Paid By Nigerians by Nobody: 7:31pm On Oct 25, 2019

My zenith bank account is already telling me -#550 give it a few weeks it'll get to -#2000

Re: The Many Faces Of Bank Charges Paid By Nigerians by lmm4real: 7:51pm On Oct 25, 2019

akinjojo1234:

lwkmd

Access na corporate ole.

Re: The Many Faces Of Bank Charges Paid By Nigerians by mchenryking0(m): 8:26pm On Oct 25, 2019

And we have regulator that conspire to defraud it citizens what a pity

1 Like 1 Share

Re: The Many Faces Of Bank Charges Paid By Nigerians by Greenback: 8:32pm On Oct 25, 2019

Coneheaded structures are dumb and mute.....they dare not complain for fear of their masters......if it was Gej now they would long have turned attack dogs....they will foam so tey till they transform into mouka foam

grin

lzaa immhotep bastardmod adaibeku greenback

1 Like 2 Shares

Re: The Many Faces Of Bank Charges Paid By Nigerians by mhizpearlysneh(f): 9:06pm On Oct 25, 2019

dre11:

https://www.dailytrust.com.ng/the-many-faces-of-bank-charges.html

The bank charges discussed here are not exhaustive. Let us know what you think as you make comments.

u didn’t mention d charge on statement of account #20 per page

Re: The Many Faces Of Bank Charges Paid By Nigerians by LZAA: 9:06pm On Oct 25, 2019

Greenback:
Coneheaded structures are dumb and mute.....they dare not complain for fear of their masters......if it was Gej now they would long have turned attack dogs....they will foam so tey till they transform into mouka foam

lzaa immhotep bastardmod adaibeku greenback

1 Like 2 Shares

Re: The Many Faces Of Bank Charges Paid By Nigerians by centboy123456(m): 9:27pm On Oct 25, 2019

tot:
Conclusion: Nigerian consumers are being ripped off from different angles.

In other countries, banks even pay you to move your accounts to them and in some cases pay you a token amount each month as a reward. Nigeria's case is the direct opposite. What a shame.

which countries those that tell me

Re: The Many Faces Of Bank Charges Paid By Nigerians by fireback: 9:29pm On Oct 25, 2019

vibbb:
Naija banks na scammers when it come to unnecessary charges.

and EFCshit is busy shouting yahoo boys, yahoo boys, where as the real yahoo boys are the banks.

Re: The Many Faces Of Bank Charges Paid By Nigerians by rumaabk(m): 9:48pm On Oct 25, 2019

You forgot to add a letter of non indebtedness fees which is #3000 charged by zenith bank.

1 Like 1 Share

Re: The Many Faces Of Bank Charges Paid By Nigerians by Nobody: 10:14pm On Oct 25, 2019

don4real18:
UBA charges N11 for transferring to other banks with its app unlike others that charge N50+

you are not a good liar.

Re: The Many Faces Of Bank Charges Paid By Nigerians by Rodeoz(m): 10:22pm On Oct 25, 2019

Which bank are you now using?
I want to port too.

lmm4real:
Access Bank comes to mind easy, those guys are just bad. I had to abandon the account for them

Re: The Many Faces Of Bank Charges Paid By Nigerians by ForbesHomesNG(m): 10:28pm On Oct 25, 2019

It's all fraud everywhere. Our politicians frauds us...even our so-called leaders do worse.

Re: The Many Faces Of Bank Charges Paid By Nigerians by kikelomojessy(f): 10:40pm On Oct 25, 2019

They just keep debiting ones acct, what can sombori do nah. If I keep money in the house everyone will know and demands will start before you know no kobo go remain cos my siblings dey use eye know how much I charge and how much be my gain. thats why I prefer customers to pay into my acct but still I have headache with it also, person pay into my acct dey will deduct, I transfer they will still deduct.

With money in the bank I can close my eyes and say no money to house wahala until regular monthly needs arise but money for my hand dont have value, it just keep vanishing.

Re: The Many Faces Of Bank Charges Paid By Nigerians by Kenneth10110(m): 10:47pm On Oct 25, 2019

FaithFighter:

Hello Homeboiy,

Don't know what made u reach this conclusion about Ecobank. Please do accept my apologies.

I have a current and savings account with them. Besides been my most favorite bank, I've found them to be quite ethical and considerate in their dealings with customers, charges inclusive.

Rather than painting a wrong picture of the bank, why not visit any of their branches, social media handles, LiveChat on their Mobile App and website or Call centre (0705000000) to have ur issues resolved.

Thanks for your consideration.

Probably a staff

Re: The Many Faces Of Bank Charges Paid By Nigerians by abbiboy: 11:00pm On Oct 25, 2019

noblealuu:
What is vexing me is that I was charged ₦50 extra for a bread of ₦450 I bought via POS today.

I have told the salesperson that next time I'm coming I'll do cash payment.

That ₦50 will make more sense to give to the street beggars in lieu of crooks in Banks and govt...

Do u live in nigeria,na pple like ur type full nigeria,proposed tax increment am sure u dont know...gullible citizen since 1990

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