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Do Banks Sell These Mint Notes To POS Merchants? - Business (2) - Nairaland

Nairaland ForumNairaland GeneralBusinessDo Banks Sell These Mint Notes To POS Merchants? (14426 Views)

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Re: Do Banks Sell These Mint Notes To POS Merchants? by limitless777(m): 1:45pm On Feb 23
Toolegit123:
POS merchants are also ordinary Nigerians just like you too lipsrsealed. Just that,na connection separate una two lipsrsealed. And one of the major difference between both of you is that POS merchants ready to press money for banker hand but you'd rather want to stand in the queue to wait for it to get to your turn sad

Press money and watch how mint notes wash your palms cheesy. Sorry, but this is Nigeria for you. A country where almost every single sector strives on corruption sad
STOP supporting crime and criminals. Can you hear yourself or read what you have just typed?
Just imagine!!! Press money! press money!! So convenient, comfortable, and shameless for you to type. You're promoting and advocating for BRIBERY for goodness sake.
Re: Do Banks Sell These Mint Notes To POS Merchants? by Karleb(m): 1:48pm On Feb 23
Because they pay. Banks are all about making money.

They also get to take their charges when you withdraw from their account from POS.

win win win situation baby. cool
Re: Do Banks Sell These Mint Notes To POS Merchants? by Oracleee: 1:49pm On Feb 23
Misplaced priorities if you ask me.


We went for a burial and someone suggested we “mint” ₦50k so we could spray ₦75k.
I asked a simple question: Why throw away ₦20k just to impress people for a few minutes?
I dismissed the mint guy, sat down, enjoyed the party, and after everything, I called our friend and asked for her account number. I sent her ₦70k directly.
Later, I told her I would have sprayed ₦50k at the price of ₦70k
I asked her, Which would you prefer me spraying ₦50k and losing ₦20k to showmanship, or you receiving the full ₦70k?
She said, you this calculating people ehnnn.


That’s my confusion with this culture. Why do many Nigerians place so much value on minting and spraying money just for optics? What exactly does it add prestige? validation? noise?
If the goal is to bless someone, bless them properly.
If the goal is to impress people, then let’s call it what it is.
Sometimes it’s not about being stingy it’s about being intentional.
Re: Do Banks Sell These Mint Notes To POS Merchants? by kingthreat(m): 1:53pm On Feb 23
I went to a wedding and was charged 20k to buy 50k mint notes.
I went back to my seat and transferred the money to the groom's account. He's been more than grateful
Re: Do Banks Sell These Mint Notes To POS Merchants? by femi4: 2:00pm On Feb 23
obembet:
I’ve noticed that almost all the POS merchants in my area always have mint ₦200, ₦500, and even ₦100 notes. Yet, I’ve tried several times to get mint notes myself, especially for important occasions, but they’re nowhere to be found.

Now, POS merchants are charging as much as 35% of your money just to give you mint notes.

Imagine paying ₦20,000 just to get ₦50,000 in mint ₦200 notes.

Why is this currency so easily available to POS merchants but so difficult for ordinary Nigerians to access?

Source: obembe Tosin
With the death to ATM machines, they now channel the mints towards POS guys
Re: Do Banks Sell These Mint Notes To POS Merchants? by Odidigboigbo(m): 2:22pm On Feb 23
writetopoker:
The period you see these mints, go to atm machine you will surely get it, especially Fidelity Bank
Banks does not load 200 denomination in ATM machine, but rather 500 and 1000. In most cases it's 1000 denomination.
Re: Do Banks Sell These Mint Notes To POS Merchants? by AKWATGOLD1(m): 2:30pm On Feb 23
Bulk room teller cannot pay you with MINT, Moreso, bulk room teller do not pay to customer. The custodian of MINT is Operation manager/Head, Teller. Even Branch Manager will have to seek Operation Manager consent for MINT payment for a customer of HNI
floss:
Yes but it’s unofficial… if you have a banker that’s working in the bulk room frequently, he/she can be paying you with mint depending if the branch manager has no interest in it …
Re: Do Banks Sell These Mint Notes To POS Merchants? by floss(m): 2:43pm On Feb 23
AKWATGOLD1:
Bulk room teller cannot pay you with MINT, Moreso, bulk room teller do not pay to customer. The custodian of MINT is Operation manager/Head, Teller. Even Branch Manager will have to seek Operation Manager consent for MINT payment for a customer of HNI
Problem with Nigerians is that they always want to sound politically correct once the perfect opportunity presents itself…. We’re both saying the same thing because such payments using mints needs approval of a higher authority…. I didn’t go into details of being specific on whom because the OP needed clarity “ on how to obtain mint and how to go about it for those interested if banks sell it to POS operatives“
Re: Do Banks Sell These Mint Notes To POS Merchants? by Hassanmaye(m): 2:47pm On Feb 23
obembet:
How can Nigeria get better when almost everyone is corrupt.
shocked shocked
Re: Do Banks Sell These Mint Notes To POS Merchants? by Hassanmaye(m): 2:51pm On Feb 23
SaintLucia:
if you have account with Jaiz Bank,all you need to do is fill the withdrawal slip and tell them you want mint, they will give you. Islamic Banks don't sell local currency be it mint or not because it's Haram.
Oh my God! Including Taj bank??
Re: Do Banks Sell These Mint Notes To POS Merchants? by MaziObinnaokija: 2:51pm On Feb 23
GTB,ECO sef dey dispense new 1000k,500k.
writetopoker:
The period you see these mints, go to atm machine you will surely get it, especially Fidelity Bank
.
Re: Do Banks Sell These Mint Notes To POS Merchants? by MaziObinnaokija: 2:57pm On Feb 23
Best place to get new crispy money nah Event places. @ cheap /reasonable charge.Forget those market/garages/motor parks own..imagine charging almost half of your money like 50/50 angry angry
Re: Do Banks Sell These Mint Notes To POS Merchants? by Softmen: 3:06pm On Feb 23
Oracleee:
Misplaced priorities if you ask me.


We went for a burial and someone suggested we “mint” ₦50k so we could spray ₦75k.
I asked a simple question: Why throw away ₦20k just to impress people for a few minutes?
I dismissed the mint guy, sat down, enjoyed the party, and after everything, I called our friend and asked for her account number. I sent her ₦70k directly.
Later, I told her I would have sprayed ₦50k at the price of ₦70k
I asked her, Which would you prefer me spraying ₦50k and losing ₦20k to showmanship, or you receiving the full ₦70k?
She said, you this calculating people ehnnn.


That’s my confusion with this culture. Why do many Nigerians place so much value on minting and spraying money just for optics? What exactly does it add prestige? validation? noise?
If the goal is to bless someone, bless them properly.
If the goal is to impress people, then let’s call it what it is.
Sometimes it’s not about being stingy it’s about being intentional.
U wan show doings Mr ITK, u carry everything for head Cash wey Una suppose split and spray U come transfer 70k direct from Ur account CUBANA south west come later dey explain yourself give the celebrat 🤣 how stingy and nonsense u are how u take manage funds . I even give up on you while U said the celebrant was a lady
Simp like you (woman wrapa)
Re: Do Banks Sell These Mint Notes To POS Merchants? by patomaniac: 3:19pm On Feb 23
Softmen:
U wan show doings Mr ITK, u carry everything for head Cash wey Una suppose split and spray U come transfer 70k direct from Ur account CUBANA south west come later dey explain yourself give the celebrat 🤣 how stingy and nonsense u are how u take manage funds . I even give up on you while U said the celebrant was a lady
Simp like you (woman wrapa)
na wa o, for someone's own preference of spending his money? why so pained?
Re: Do Banks Sell These Mint Notes To POS Merchants? by uvie66: 3:35pm On Feb 23
obembet:
How can Nigeria get better when almost everyone is corrupt.
....I disagree, it is called demand and supply. If you are a banker on a salary of 250k a month, and working in bulk room, customers come to ask for mint on Regular basis, some are ready to 10k for 100k mint, and others are prepared to pay nothing citing it's their right to have mint, what will you do ?
Re: Do Banks Sell These Mint Notes To POS Merchants? by boxypane: 3:40pm On Feb 23
Report them to the CBN. It's possible the banks in your area is aiding them. But first check your ATM first, it's another way to get mint these days.
Re: Do Banks Sell These Mint Notes To POS Merchants? by uvie66: 3:42pm On Feb 23
limitless777:
STOP supporting crime and criminals. Can you hear yourself or read what you have just typed?
Just imagine!!! Press money! press money!! So convenient, comfortable, and shameless for you to type. You're promoting and advocating for BRIBERY for goodness sake.
....he is not promoting anything, it is what it is, as long as we live in a poor country and people's desires for money is the ultimate then nothing can be done, money is more persuasive than mere words.
Re: Do Banks Sell These Mint Notes To POS Merchants? by dequir: 4:12pm On Feb 23
AKWATGOLD1:
Bulk room teller cannot pay you with MINT, Moreso, bulk room teller do not pay to customer. The custodian of MINT is Operation manager/Head, Teller. Even Branch Manager will have to seek Operation Manager consent for MINT payment for a customer of HNI
A banker is talking. You got it right.
Re: Do Banks Sell These Mint Notes To POS Merchants? by Druss(m): 4:21pm On Feb 23
To me it is only a fool who will spend his or her hard earned money to buy mint notes.
Re: Do Banks Sell These Mint Notes To POS Merchants? by weedfada(m): 4:23pm On Feb 23
In the club, it's 15k for 20k (N200 mint).
Re: Do Banks Sell These Mint Notes To POS Merchants? by Timitete: 5:23pm On Feb 23
In the area i am. there is a bank ATM that dispense mints like 1,000,500 and 200.
These POS guys do go with more than 6 cards to get the 200naira mint cos it cant pay u more than 40k per card.
They now go and be selling it to those who needs it for an extra pay
Re: Do Banks Sell These Mint Notes To POS Merchants? by NaijaCover(m): 5:40pm On Feb 23
Timitete:
In the area i am. there is a bank ATM that dispense mints like 1,000,500 and 200.
These POS guys do go with more than 6 cards to get the 200naira mint cos it cant pay u more than 40k per card.
They now go and be selling it to those who needs it for an extra pay
Which Area Is that?
Re: Do Banks Sell These Mint Notes To POS Merchants? by Cmanforall: 5:52pm On Feb 23
dominique:
They definitely do, they also sell to those that exchange mint notes at weddings or where do those people get those notes from?
How did that culture even start?
I mean selling Naira on occasions?


I’m sure if Soludo or Sanusi is still heading the CBN, these nonsense wouldn’t have become a norm
Re: Do Banks Sell These Mint Notes To POS Merchants? by jaeyking(m): 6:28pm On Feb 23
CBN is trying it's best to curtail such
But as usual there will always be loopholes

All mints are expected to be loaded on ATM terminals

What some do is after loading
People who notice the mint will withdraw as much as they want
More reason on the restrictions on withdrawal limit
Re: Do Banks Sell These Mint Notes To POS Merchants? by Mattswaggz: 10:42pm On Feb 23
Petrzoom:
Who are the people paying 20k to collect 50k.
Maybe not regular customers but it happens like that in some clubs.
Re: Do Banks Sell These Mint Notes To POS Merchants? by Luqso1(m): 12:51am On Feb 24
I need 200 and 500 denomination
post=138558763:
How much MENT, do you need?

If you want 1million naira MENT in 1,000naira Denomination, INDICATE over here.

New Currency Is Everywhere, My Dear, Obembet
Re: Do Banks Sell These Mint Notes To POS Merchants? by NaijaCover(m): 1:50am On Feb 24
Luqso1:
I need 200 and 500 denomination
This Is MR BLOGGER (NAIJA-COVER)
Re: Do Banks Sell These Mint Notes To POS Merchants? by InvertedHammer: 5:35am On Feb 24
obembet:
How can Nigeria get better when almost everyone is corrupt.
/
Nobody wants Nigeria to get better. The only ones complaining are those not plugged into the system

/
1 2 Reply

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