₦airaland Forum

VAT on Service Charges
In line with regulatory directive, please be informed that a Value Added Tax (VAT) of 5% would be charged on all cards-related services.

For more information or enquiries, Please call our 24/7 dedicated FirstContact Center on 0700FIRSTCONTACT (0700-34778-2668228), 01-4485500, 0708-062-5000. SMS Short Code 30012 or email firstcontact@firstbanknigeria.com.

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ok o

The burden is becoming too much; this change na wahala oh; the little people have is still being collected through various taxes............Bye bye to banking be this oh

People would quietly resort to locally safe-keeping their own cash..

Demand cash payment for goods and services.

No more 'I'll pay to your bank account' would be preferred.

Cash tinz loading

Abbeyme:
People would quietly resort to locally safe-keeping their own cash..

Demand cash payment for goods and services.

No more 'I'll pay to your bank account' would be preferred.

Cash tinz loading

You get it my brother; but why all these policies at this time now; government should please put human face to their governance oh.

Omooba77:
The burden is becoming too much; this change na wahala oh; the little people have is still being collected through various taxes............Bye bye to banking be this oh

Use ur mind bros and stop wailing. Jonathan was planning a all-round VAT increase to 12% before he was thrown out. This is a 5% for ATM related services alone. I believe it wouldn't affect overall transaction amounts significantly.

Standing5:
Use ur mind bros and stop wailing. Jonathan was planning a all-round VAT increase to 12% before he was thrown out. This is a 5% for ATM related services alone. I believe it wouldn't affect overall transaction amounts significantly.

You are still blaming Jona..........your trade mark lie.......God bless Nigeria

Hmmmmm.. This'll discourage konga,jumia customers who do prepaid for their order. Na pay on delivery most of them go dey do now.

U can imagine, when u pay #200k and u're charged 10k for vat. Chai!

we haven't seen the blessings of N50 stamp duty they are talking VAT again.


and they want us to go cashless?

Dear Valued Customer,

 

Thank you for contacting FirstContact.

 

We acknowledge the receipt of your mail.

 

Kindly be informed that cards-related services implies to card transactions that attracts service charge and an example of such card related service includes ATM Cash Transfers.

 

This attracts a transfer fee of N100 hence, service charge of 5% on the N100 transfer will be applied on the card initiated transaction.

 

Please do not hesitate to contact us if you require additional information.

 

For further enquiries on FirstBank’s products and services please call/e-mail FirstContact through the details below:

 

0700 FIRSTCONTACT (0700-34778-2668228)

01-448 5500

0708-062-5000

firstcontact@firstbanknigeria.com

chiefkpokp:
Dear Valued Customer,



Thank you for contacting FirstContact.



We acknowledge the receipt of your mail.



Kindly be informed that cards-related services implies to card transactions that attracts service charge and an example of such card related service includes ATM Cash Transfers.



This attracts a transfer fee of N100 hence, service charge of 5% on the N100 transfer will be applied on the card initiated transaction.



Please do not hesitate to contact us if you require additional information.



For further enquiries on FirstBank’s products and services please call/e-mail FirstContact through the details below:



0700 FIRSTCONTACT (0700-34778-2668228)

01-448 5500

0708-062-5000

firstcontact@firstbanknigeria.com

better.

chiefkpokp:
Dear Valued Customer,

 

Thank you for contacting FirstContact.

 

We acknowledge the receipt of your mail.

 

Kindly be informed that cards-related services implies to card transactions that attracts service charge and an example of such card related service includes ATM Cash Transfers.

 

This attracts a transfer fee of N100 hence, service charge of 5% on the N100 transfer will be applied on the card initiated transaction.

 

Please do not hesitate to contact us if you require additional information.

 

For further enquiries on FirstBank’s products and services please call/e-mail FirstContact through the details below:

 

0700 FIRSTCONTACT (0700-34778-2668228)

01-448 5500

0708-062-5000

firstcontact@firstbanknigeria.com

Thanks for this clarification my brother. God bless

The clarification is good. But the problem in Nigeria is that the banks will still do as they like after those clear transactions.

That is how stamp duty that should only affect current accounts, affected salary account and savings account of some people I know. If you complain nothing will happen.

So don't be surprised when they collect VAT for extra-judicious services.

My major gripe is not the collection. It is:

A. There is zero accountability. No one knows where the money is going to. It may be in CBN today, Ministry of Finance tomorrow, and used to finance PMB's junketing the next. No questions asked, no replies given.

Their own na jor to collect on the pretext that there is no funds. If there is no fund, can't you at least tell us what it is for? Is it to finance the budget deficit, or to finance the welfare scheme, or to bail out the states, or to fund the useless trips, or to pay for Aso Rock rent?

You've not told us what you are using the stamp duty for? You've not told us what you are using the 8 naira per liter of petrol profit you are gaining for? You've not told us what you are using the recovered loot for? Now you want to collect VAT? Tomorrow, you will come with another charge without telling us what you have used the previous revenue for? And Nigerians will keep quiet. Nigerians deserve what is coming to them. When clothe don tight them finish, them go remember say dem get mouth...

-Lord