My Only question is what happens to the masses who would hardly have 25k as there balance

Jolake:

I really don't get what all the fuss is about. The banking industry is a perfectly competitive market, at least from the customers' point of view and the customers have a myraid of options as to what bank to transact with. If UBA chooses a corporate strategy that increases miminimum deposit to whatever amount, so be it. And If it sinks them, so be it. If you can't comply with their requirements, move to First bank. Most likely, the accounts that can't maintain the 25K minimum balance are not what keeps the bank alive anyway.

What I see here are just shallow, unobjective analyses and resistance to change, which is expected considering UBA's business model over the years.  If you incorporate your own bank, you can even deposit money into your customers' accounts to please them. Must we always bring sentiments into everything? By the way, UBA exempted salary accounts, which flaws the revolt based on the minimum wage factor.

If UBA is not violating any law or regulatory provision, then let them be and watch what they make of their business. But castigating the bank based on the poor-masses sentiment is at least unfair. The bank is neither the government nor an NGO.

The sad fact is that most people drawing swords at UBA's head would (if not already) implement worse decisions than UBA is now.

For those insinuating the bank's demise; if the bank doesn't die, u may go kill it. Selah!!!!!!

My Problem is what would happen to the masses?And i believe if UBA is doing this maybe the rest banks would cultivate this system sooner,

osas007:

My Only question is what happens to the masses who would hardly have 25k as there balance
My Problem is what would happen to the masses?And i believe if UBA is doing this maybe the rest banks would cultivate this system sooner,

What UBA is simply doing is to reduce/limit the number of people who come into the banking hall for cash withdrawal purposes.

Those who do not have up to 25k have been advised to subscribe to their E-banking products/services. In this case, all withdrawals will be done through the ATM.

FOD:

What UBA is simply doing is to reduce/limit the number of people who come into the banking hall for cash withdrawal purposes.

Those who do not have up to 25k have been advised to subscribed to their E-banking products/services. In this case, all withdrawals will be done through the ATM.

That also hasnt been a satisfactory answer to my questions, Not all masses could understand the Atm services and not every customer likes the ATM, (Due to the way of withdrawing money easily and spent easily lol if you know what i mean)And also i dont think it would reduce any cash withdrawals at the bank, People still get into the banking halls to withdraw cash below that amount because they dont use ATM cards so what happens to this kind of customers?I presume chased them away from the banking system hun?

osas007:



That also hasnt been a satisfactory answer to my questions, Not all masses could understand the Atm services and not every customer likes the ATM, (Due to the way of withdrawing money easily and spent easily lol if you know what i mean)And also i dont think it would reduce any cash withdrawals at the bank, People still get into the banking halls to withdraw cash below that amount because they dont use ATM cards so what happens to this kind of customers?I presume chased them away from the banking system hun?

And i want you to know there are days or urgent need of funds and the ATM isnt in its right order, What happens? God forbid it but in times of Emergency rushing someone into the hospital, You know i simply believe before taking any policy intoo consideration there should always be a creationg of public surveys about what the majority of the customers thinks, shikena,

osas007:

And i want you to know there are days or urgent need of funds and the ATM isnt in its right order, What happens? God forbid it but in times of Emergency rushing someone into the hospital, You know i simply believe before taking any policy intoo consideration there should always be a creationg of public surveys about what the majority of the customers thinks, shikena,

They did their survey, I presume, and realised that customers whose account balances are below the new minimum balance use the banking hall more.

They can still go into the banking hall to withdraw.

I understand that such customers who insist on withdrawing at the counter will be a charged an extra fee of N250.

I hope you understand my point of view, But no worries wont stress much on the issue on ground,

UBA I no get quarrel with una but I don buy safe. Tell una oga uncle Sanusi say I don withdraw all my money I dash una the N1,300 make una take. I bet una go soon close like Mr. Biggs

I guess favour101 has sure falling a victim to what am complaining about, Its just so insane to restrict customers to such amount of funds, doesnt make sense at all, Soon they would close up like Favour101 just said,

osas007:

I guess favour101 has sure falling a victim to what am complaining about, Its just so insane to restrict customers to such amount of funds, doesnt make sense at all, Soon they would close up like Favour101 just said,

How is it insane when you can easily transfer your business elsewhere? UBA is free to define its niche and stick to it in as much as they do not violate any company law or banking guidelines.

People are found of opening their mouth to say rubbish.If you are not cleared on any any thing,the best thing is to ask questions.Some accounts are exempted from this policy(salary,pension,u-care and the likes).UBA is not broke and will never be broke!The whole idea is to de-congest the banking hall and move petty customers to e-products like ATM,U-direct,U-mobile etc.
Kindly note that your account(s) can go below N25 as long as you agree to make use of your ATM for withdrawals.
So,stop castigating UBA as UBA is one of the best banks in Nigeria, confirmed!!!

It is not a directive from CBN but a personal initiate by the Bank Management, to shore up their capital base. Intercontinental Bank once did the same thing, so it is not new. or you can pull your money out from the place, if you felt uncomfortable with new UBA initiative.

This has nothing to do with CBN or Sanusi. Why ranting on cbn instead of addressing the right quarters. This is purely a UBA Policy and may not prompt other banks to do same. But I think its welcomed to tech savvy customers like myself. The question is What happen to the uneducated customers and alike?