Tuska:


your own Nah your own. No dey chock eye for another man pot.

Obrigardo:


Na village you dey? I have relatives in the US, I visit frequently and have biz interests there.. And even if you haven't set foot outside your village, sometimes I'm in the states, and same time im affecting your life in your tiny cave in your nigerian jungle

Obrigardo:
So what do we do, protest?

In other news, trump is confirmed to be a pathological liar, once again and again and again.....

Obrigardo:
So what do we do, protest?

In other news, trump is confirmed to be a pathological liar, once again and again and again.....

BLESSICA:
To 4uk dey hungry me.

tot:


You must have opted for this. The point is for a BASIC bank account which provides the normal services of keeping money and acess to free ATM, there is no charge.

I see nothing wrong in the OP comparing Nigeria to the UK, what extra services are Nigerian banks providing to be charging such ridiculous amounts? Even after covering diesel and operating expenses, what are the remaining charges for exactly?

Obrigardo:


pray God takes him away before enough carnage that will spread here and scatter us, which is already in motion by the way

Marpol:


You don't need a safe bro, keep your money in USD!

abnot:


A typical ATM in the U.K. is powered by public electricity . In Nigeria backup power is provided along with security. What is the average cost of funds in U.K. ? What is the cost of Data ? These ATMs are computers constantly sending and receiving information to complete transactions. All these adds to the factors of production. Are ATM machines and spares manufactured in Nigeria ? In U.K. most spares are available in U.K. or within the EU where customs duty and other import fees are waived . MasterCard and Visa charges on majority of the cards used are settled in dollars (what is the strength of the local currency?) . If you run a bank in Nigeria how will you fund all these ?

Nigerians in diaspora always come online making comparisons here and there in the process condemning things. If a typical British bank comes to operate in Nigeria and replicate the model they operate they will not survive the Harsh environment

Built2last:
They should keep reaping off the masses. when they are ready they will rise against the establishment

I have been in UK for 7 years doing business. I have never been charged for debit card, Cheque book issuance or any stupid sms or account maintenance charge and all banks in UK are light years ahead of Nigerian banks.

Here, you call them you need card, they issue in 3 days with no charge.

CBN should introduce Walking into the bank charge. our people will pay and come online to rant

tot:


So it requires N22bn (N22,000,000,000) to acquire all these IT infrastructure?

Built2last:
They should keep reaping off the masses. when they are ready they will rise against the establishment

I have been in UK for 7 years doing business. I have never been charged for debit card, Cheque book issuance or any stupid sms or account maintenance charge and all banks in UK are light years ahead of Nigerian banks.

Here, you call them you need card, they issue in 3 days with no charge.

CBN should introduce Walking into the bank charge. our people will pay and come online to rant

Mexyz:
Access Bank should be number 1
Awon ole gbogbo

playapayaski:


Na thief dem b o, mata tire man.. Access bank own na 175 monthly, so I closed the account after complaining severally.. Now na gtb dey ram me hard. Its unfair

BLESSICA:
To 4uk dey hungry me.

Kubernetes:


Let me give u an example.
If bank A has a total of 2m customers.
If monthly maintenance fee is 1% of every withdrawal.
If everyone amongst the 2m customers withdraw just #5000 in a month.

Now this 2m customers will be charged mnt fee for that month.
=1%×#5,000= #50

Now for 2M customers
= 2,000,000×#50
Now Gross mnt fee=#100M
If the expenses incurred by the bank in terms of maintaining the channels in which these #5k was taken by the customers(e.g atm, USSD,app,otc) is #30M.
It simply means the net monthly mnt fee income for the bank is #70M.

This #70M revenue stream is added to other streams like interest loans,alert charges,float income etc to added to the total net income of the bank.Its from this total income that preferred share holders are paid,retained earnings are ploughed back, technology is upgraded and dividends are shared.

Probably they should reduce it to 0.2%.
Note that's it was when COT was cancelled that the banks brought mnt fee in order to remain in biz.

Built2last:
They should keep reaping off the masses. when they are ready they will rise against the establishment

I have been in UK for 7 years doing business. I have never been charged for debit card, Cheque book issuance or any stupid sms or account maintenance charge and all banks in UK are light years ahead of Nigerian banks.

Here, you call them you need card, they issue in 3 days with no charge.

CBN should introduce Walking into the bank charge. our people will pay and come online to rant