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What is the meaning of Negative Acct bal? by THELATTERMAN(m): 8:45am On Oct 15, 2021 |
A friend opened his UBA mobile banking app yesterday, only to see an amount greater than what should be the main balance. Fast forward to this morning, he attempted a withdrawal and it bounced back as insufficient fund. And presently the account balance stands at -4.5k. Nlanders, what does it mean and how can it be rectified? Note: the person has never been involved in any form of loans.
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Re: What is the meaning of Negative Acct bal? by THELATTERMAN(m): 8:46am On Oct 15, 2021 |
Your comments are highly needed urgently, please. |
Re: What is the meaning of Negative Acct bal? by THELATTERMAN(m): 10:04am On Oct 15, 2021 |
Comments, please |
Re: What is the meaning of Negative Acct bal? by SavageResponse(m): 12:57pm On Oct 15, 2021 |
THELATTERMAN: What I think may have happened is that one of the bankers posted a credit transaction to you're friend's account in order to balance his books. Your friend logged in saw the large account balance and withdrew or did a transaction that took out more money than he actually had in his account, now the banker who posted a credit to your friend's account has reversed the posting...this is why the account is now showing a negative balance. Na your friend chop de money! |
Re: What is the meaning of Negative Acct bal? by THELATTERMAN(m): 1:25pm On Oct 15, 2021 |
SavageResponse: In the transaction statement, only the transactions he carried out were displayed. No history of any reversal, credit, nor debit except the ones he carried out personally two days ago. |
Re: What is the meaning of Negative Acct bal? by THELATTERMAN(m): 1:28pm On Oct 15, 2021 |
THELATTERMAN: Attached is the account history. The particular sum that resulted into a negative balance is not in the history. And it happened last night.
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Re: What is the meaning of Negative Acct bal? by SavageResponse(m): 12:25am On Oct 16, 2021 |
THELATTERMAN: Those transactions by the banker in the back office will not be reflected on his bank statement. Those transactions your friend did were for a total amount which is greater that the amount he actually had in his account. The only way your friend can say categorically that his money was stolen is if he can point out a debit item in his bank statement he was not responsible for...I can guarantee you he will not find any! |
Re: What is the meaning of Negative Acct bal? by Incips: 2:32am On Oct 16, 2021 |
Great information! |
Re: What is the meaning of Negative Acct bal? by THELATTERMAN(m): 2:42pm On Oct 16, 2021 |
SavageResponse: Thank you |
Re: What is the meaning of Negative Acct bal? by THELATTERMAN(m): 7:38pm On Oct 20, 2021 |
SavageResponse: What would happen if he doesn’t make a deposit of the said amount into his account as a refund? |
Re: What is the meaning of Negative Acct bal? by THELATTERMAN(m): 7:43pm On Oct 20, 2021 |
THELATTERMAN:After proper investigations, here is what I found: 1. A friend actually transferred the money to his account upon his request. 2. He made a withdrawal of the said amount. 3. The sender’s bank declared the transaction fraudulent for reasons unknown. 4. It was also rumored that all accounts that the sender in talk made a transfer of fund into were placed on negative balances, in the name of fraudulent transaction. Note: the amount in talk here is N5,100 only. |
Re: What is the meaning of Negative Acct bal? by THELATTERMAN(m): 7:45pm On Oct 20, 2021 |
SavageResponse: You seems to be knowledgeable about how the financial houses work. Please, what are your suggestions in this matter? |
Re: What is the meaning of Negative Acct bal? by SavageResponse(m): 4:46am On Oct 21, 2021 |
THELATTERMAN: Well the bank is not necessarily going to arrest him because of this incident but anytime he makes a deposit the bank will first deduct the negative balance amount. If for instance he makes a deposit of N20,000 his account will show a balance of N14,900Cr. The only way he can avoid this is if he abandons that account but this will be rather foolish. The downside of doing this is that the system of the bank might treat the negative balance as an overdraft or loan and will automatically charge interest on that account on a compounding basis therefore in about 2 years the negative balance may increase significantly from N5,100 to N8,000 for instance. My suggestion would be for him to pay in the money especially since he was the one who spent it and not that his money was stolen |
Re: What is the meaning of Negative Acct bal? by THELATTERMAN(m): 11:24am On Oct 21, 2021 |
SavageResponse: Thank you very much. |
Re: What is the meaning of Negative Acct bal? by jom28gy(m): 3:51am On Oct 22, 2021 |
What happened lati |
Re: What is the meaning of Negative Acct bal? by THELATTERMAN(m): 7:22am On Oct 22, 2021 |
jom28gy:I don’t understand |
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