₦airaland Forum

Good day fellows. I don't just know why I feel so much afraid of putting much money into all these online banking account....
I am sooo afraid of if they should fold off today, who will I hold responsible of my cash. Will I hold Nigeria apex bank responsible.
I think the CBN should make a national comments and tell Nigerians if we are good or at our own risk if we do business with them.
And pls can anybody who has a clear vast experience in the banking sector advise us on this platform maybe we are safe.
Thank you all... and God bless

How much do you have that online bank will run with?

My fears too.

I downloaded one but never used it all this while.

Yesterday for the first time, a customer was finding it difficult to transfer to my uba so i opt for my opay acct.

Before i say jack, money don enter.

To move the money to my uba acct now, wahala start. Keep telling me failed due to verification bla, bla....

I tried nin, my bank acct, my phone no,,,, all no go.

At last i had to send the money to someone who has opay acct, and i was debited immediately.

Dont understand why i av that verification problem, but am never gonna use that again.

Foodqueen:
My fears too.

I downloaded one but never used it all this while.

Yesterday for the first time, a customer was finding it difficult to transfer to my uba so i opt for my opay acct.

Before i say jack, money don enter.

To move the money to my uba acct now, wahala start. Keep telling me failed due to verification bla, bla....

I tried nin, my bank acct, my phone no,,,, all no go.

At last i had to send the money to someone who has opay acct, and i was debited immediately.

Dont understand why i av that verification problem, but am never gonna use that again.

Oga verify your email and house address to start enjoying it

FINTECHS are here to stay. It's about time we start getting used to them.

To play safe, you can just make sure you don't have more than N500k in their accounts/wallets. Most of them are insured by NDIC and that is the insured amount.

I've been using Carbon, OPay, Payday & Fairmoney for a while now but keep my savings with different commercial Banks. So, you can spread yours as well and avoid/minimize 'concentration risk'.

Personally, I ensure my total balance with each FINTECH doesn't exceed N200k. Na where my risk appetite reach be that oo

ecolime:
FINTECHS are here to stay. It's about time we start getting used to them.

To play safe, you can just make sure you don't have more than N500k in their accounts/wallets. Most of them are insured by NDIC and that is the insured amount.

I've been using Carbon, OPay, Payday & Fairmoney for a while now but keep my savings with different commercial Banks. So, you can spread yours as well and avoid/minimize 'concentration risk'.

Personally, I ensure my total balance with each FINTECH doesn't exceed N200k. Na where my risk appetite reach be that oo

Imagine my bank deducting 4k from my account just for sms charges for a month

Stephaniegold:
Imagine my bank deducting 4k from my account just for sms charges for a month

4k a month is on the high side . For commercial banks, you can always deactivate sms alert (has its risks though) and strictly adopt mobile/online banking. You use their APP to confirm customers deposits/payments.

Stephaniegold:
Imagine my bank deducting 4k from my account just for sms charges for a month

If you are using a smart phone, why not ask your bank to send you notifications through mail? It's my preferred option for more than 2years now