Mystiq07:
bank

Stanbic

M nt talking abt paypal. Its ebay account and i dnt think i did anything wrong. I was asked to verify my account in which i wasnt to do so dat day. I'm using nigeria paypal account.

lordkay10:

What actually led to the restriction. ......which country's PayPal are u talking about?

kasala don burst. 220 from 212? chai yawa don happen na wa ooh gbege don drum

Futurewiser:
kasala don burst. 220 from 212? chai yawa don happen na wa ooh gbege don drum

Member of this great house:Stanbic rate = First Bank rate?

I think its right time we start campaign against these banks exorbitant rates on mastercard via various social media.

Stanbic ibtc bank 5$ charged 1100naira
220/1$

GTB and First Bank charged 220 15Sep.

Stambic is now #220/$

Ha... Bet Y!

And those Stanbic Mobile personell just met me in class and i opened the acc. I would still still go ahead sha.

Tomorrow migth be a better day!

Stanbic just charged me 220 also for a PayPal transaction.

agentakins:
Stambic is now #220/$

is there any standard chartered customer here, please what is your rate? I need to close my Stanbic ibtc account.

mavinc4u:
is there any standard chartered customer here, please what is your rate? I need to close my Stanbic ibtc account.

What's good about SC?

mavinc4u:
is there any standard chartered customer here, please what is your rate? I need to close my Stanbic ibtc account.

219.45

mavinc4u:
is there any standard chartered customer here, please what is your rate? I need to close my Stanbic ibtc account.

Nor bother, na 225+ range (even when we were enjoying 199.5 with stanbic) , & leave 1st bank inconsistency alone ooo, Na so dem lie to my friend that their rate was 199.5 in july, sunday they'll do 220, tuesday 217, wed it will be 237 naira, when she calls (intn'l call fa ) to complain, they will tell her " IT'S MASTERCARD RATE FOR THE DAY"

Sister, just curse stanbic & stay put.

What stings is that I'm supposed to send money to a friend to get my baby some supplies since 2wks but been foot dragging...

Have to do it today or tomorrow cos i read on the biz thread that a devaluation to 220 is imminent in the next few weeks...

God will help us.

modath:


Nor bother, na 225+ range (even when we were enjoying 199.5 with stanbic) , & leave 1st bank inconsistency alone ooo, Na so dem lie to my friend that their rate was 199.5 in july, sunday they'll do 220, tuesday 217, wed it will be 237 naira, when she calls (intn'l call fa ) to complain, they will tell her " IT'S MASTERCARD RATE FOR THE DAY"

Sister, just curse stanbic & stay put.

What stings is that I'm supposed to send money to a friend to get my baby some supplies since 2wks but been foot dragging...

Have to do it today or tomorrow cos i read on the biz thread that a devaluation to 220 is imminent in the next few weeks...

God will help us.

Don't mind the guy talking about devaluation to 220, he is making that noise because of Stanbic rate. Meanwhile people should expect alot of anomalies using Stanbic card. I noticed alot of things from that bank after their website upgrade on Sunday.

tumababa:


unfortunately, still the cheapest..

GTB Sept 15th Transaction: $1 = ₦ 220

Unity bank is 221

gowaga68:

What's good about SC?

There is nothing good about any of them. I am just looking for bank with lowest rate jare

mavinc4u:


There is nothing good about any of them. I am just looking for bank with lowest rate jare

you will have to Wait for a very very very loooooooooonnng time

i have some dollars say about 250$ which i can help any purchase items dt can cover that amount. I will do at 217 to 1$

softtouch2:


GTB Sept 15th Transaction: $1 = ₦ 220

are you sure gtb won't charge you at the end of the month for international transaction fee ?

tumababa:


are you sure gtb won't charge you at the end of the month for international transaction fee ?

They dont

Is there anyone here that can explain to me how I can fund my dollar account or help me fund it?

Bookiemart01:
Is there anyone here that can explain to me how I can fund my dollar account or help me fund it?

Domiciliary account I guess? If you need inflow then I can transfer to you at the rate of 260 per $1

mavinc4u:

Don't mind the guy talking about devaluation to 220, he is making that noise because of Stanbic rate. Meanwhile people should expect alot of anomalies using Stanbic card. I noticed alot of things from that bank after their website upgrade on Sunday.

Yep, I used the ATM on sat with standbic card and got the following reply. "Action selected not available at this time please retry"
Na so my $200 take disappear o and the bank is telling me it would take 45 days to get it back

tumababa:


are you sure gtb won't charge you at the end of the month for international transaction fee ?

I haven't seen such kind of fee before... this is just POS purchase

softtouch2:


I haven't seen such kind of fee before... this is just POS purchase

Ok

Adebayolove:
You won't see the exchange rate on the site. You will get to know the rate from the transaction alert you receive from your bank.

Please is it proper for GTB to use different rates when you're making payments and when you're receiving payments?
For example, I did a transaction on aliexpress that failed to go through. The seller refunded the money. GTB used #220 as exchange rates when I was paying, then they used 199 to refund.
Is this the proper thing? Cos I want to take it up with them.
Valuable inputs are welcome

AmenJoan:


Please is it proper for GTB to use different rates when you're making payments and when you're receiving payments?
For example, I did a transaction on aliexpress that failed to go through. The seller refunded the money. GTB used #220 as exchange rates when I was paying, then they used 199 to refund.
Is this the proper thing? Cos I want to take it up with them.
Valuable inputs are welcome

its not proper please do take it up and you will get your full refund am speaking from experience.

mavinc4u:

Don't mind the guy talking about devaluation to 220, he is making that noise because of Stanbic rate. Meanwhile people should expect alot of anomalies using Stanbic card. I noticed alot of things from that bank after their website upgrade on Sunday.

pls what did u noticed, share with me, I noticed change on their website after the upgrade. thank

Here's what my research has shown.
A bit of background to this first. Debit and credit cards can be used wherever you see the Mastercard or Visa symbol, depending on what your card is branded. But, when you use it overseas, your card issuer has to translate your purchase into Naira– the base currency of your card. There are two factors that have an effect:
1. The card issuer's exchange rate. If you look at any credit card, it'll have a MasterCard or Visa logo. This is the card issuer, and both set their own exchange rates, which is the rate your bank gets when you use a card overseas.
2. The non-Naira transaction fee. This is set by your card provider - i.e. your bank e.g. GTB or Stanbic
So, when you spend overseas, your bank or credit card provider first uses the wholesale rate set by MasterCard or Visa on the day you make the purchase to make the exchange. Then it adds its commission, typically between 2.5% and 3% for most banks in Europe and North America, but for Nigerian banks they are charging way more than that, even up to 15%. You will also see other fees for cash withdrawals which are fixed at a maximum of N420 by CBN but some banks like Access charge N240.
If you look at the rates charged by Master card and visa to the banks, it comes to N199+, but less than N2000 right now, but in turn the banks charge us N220 or more, representing 10% or more. That's where the problem lies. The banks are making unwholesome profits as foreign exchange fees. That's why you typically see when you get a refund, it's usually at the rate they were charged by visa or MasterCard and unless you complain, they chop the foreign exchange fees.
Excuse my pun, but the banks are laughing to the bank!