₦airaland Forum

Shakitibobo:
Hi Guys, please let's stop all this. Really, can we get real for a moment!!! We can not all gang up and destroy our own indigenous companies under the guise of error in exchange rate. things are tough all over the world right now. companies are laying off to stay afloat and the few ones we have, we want to sue them to court and let me guess...... HUGE SUMS OF MANEY ABI? Banks are not Tech companies, they really on other companies to provide technical support and as bad as we hate to admit it, systems fail once in a while.

Due to a system error, they sold dollars at N199, if it were your own business, wont you recoup the loss. We all cant complain about Buhari badmouthing Nigeria where we also are doing the same thing. dragging the bank to twitter or facebook will only shortsell ourselves to the rest of the proud and convince them that we do not have a banking industry that is strong. if we do this, how will we now attract the foreign investment to grow the Naira. MTN, GLO, Airtel have all had several system failures and debited credit from our phones... My DSTV (PREMIUM) expired and I wasn't disconnected, the next time I paid, the instantly debited me and I understood. didn't go around creating a fuss over it. These things happen but doesn't give us the right to destroy our own... just my thoughts sha!!! lets build the economy and grow the Naira (we need these companies to achieve that)

GTB you guys ought to be a lot more careful by the way

God Bless

It is this type of thinking that will further frustrate this country. I f you truly love your country you will consider what is best for her, a company that does not give priority to its customers has never been good for any country, we do not want from frying pan to fire. YES we want indigenous companies, but we do not want rogues who will come and syphon us of our hard earned currency. BANKS NEED to be transparent so customers can have faith in them. One of the reasons you cannot carry your money to the bank for them to invest for you the way people do in other countries is because a good majority of our banks are crooks and transactions with them are always shady.

ENOUGH IS ENOUGH.

WE have the power to make a CHANGE by protesting what is unjust and unlawful. LETS MAKE THE CHANGE, we do not need to wait for BUHARI.

Shakitibobo:
To what end... I stand by my earlier adumbration.....don't destroy what our own... all this mess today is simply because we lost our oil money and failed to diversify our economy. Let's drag the institutions through mud and destroy them as well and what next...... I might be GTB today, but nothing stops it from happening to you tomorrow. Banks rely on other companies for Tech support, it is totally out of the control, you can do all you humanly can but some times sytems just fail and there is nothing you can do about it #SupporttheNairatoGrowtheEconomy

Today is no banking day!!!!! Yippee!!!!

So this is your best form of defense? It shows how pathetic you are.
Take USD to GTBank and tell me how much its changed for? Then come back and rephrase your analogy of black market and killing indigenous companies. We are saying NO TO GTBANK SCAM and you are here saying........

softtouch2:
Are you aware people call GTbank CC to confirm this rate when all these happened?
And CC confirmed it to be the new rate for the day.

What if GTBank refund all your $ transaction today, and redebit your account @ 800 Naira to a $ , what will you say? ... GTBank has all the right?

Its people like the guy you quoted that shout Nigeria is bad yet they will give reasonable explanation to dummies like themselves on why it should be bad. Stop trying to educate such m****ns. Its a waste of time.

Shakitibobo:
To what end... I stand by my earlier adumbration.....don't destroy what our own... all this mess today is simply because we lost our oil money and failed to diversify our economy. Let's drag the institutions through mud and destroy them as well and what next...... I might be GTB today, but nothing stops it from happening to you tomorrow. Banks rely on other companies for Tech support, it is totally out of the control, you can do all you humanly can but some times sytems just fail and there is nothing you can do about it #SupporttheNairatoGrowtheEconomy

Today is no banking day!!!!! Yippee!!!!

We don't want to build our economy on corrupt practices. Bad eggs has to be removed for economy to move forward so gtbank has to pay for their act. I believe gtbank has their tech support who should have disconnected from the network when they noticed the anomaly but it never happened because it was a deliberate act from gtbank to rip their customers off.

holuphisayor:
Wow, this issue is being discussed on silverbird tv right now.

If is true then that is good.

Please show me the email or advert jingle GTB has ever sent you to inform you they now charge higher than Black Market.

GTB should pay for it's "system anomaly " as it is no fault of its customers.

Please tell me, if the rates were #199 and a "system anomaly " made them charge customers at #299, would they ever refund those customers? Would they even call it an anomaly? Wouldn't they just say "rates are not static, that was the rate for the weekend "

You might want to mind your business and leave those who were affected to find a solution to this.

Just know that "makan makan loyenkan".

Phony200:
Y'all claimed to be misled. Did GT send you an email and advertise to you that they were running a dollar promo? 50% off all Intl purchases? You saw an opportunity and you used it! Why are you all crying wolf? I'd like one person to take 2 minutes to read the TERMS AND CONDITIONS of GTB per transactions on your account. There is absolutely no basis for a lawsuit, even a simple customer service complaint. Did GTB steal your money? No! Na una dey go bank wey teller miscount money give una dey give testimony say God don bless you. No! It is not a blessing, it was an anomaly which the bank moved to correct once it was noticed. I've seen COT charges that were 3 years old recovered on accounts. Did a customer step up to say, Oh GTB, please you have not charged your COT for last month? Oh GTB, something is wrong with your system, I noticed rates are lower than usual. In case you don't know, same thing applies to wrong postings on your account. If money is wrongly paid to your account, go ahead and withdraw it and spend it all and see if you won't be sued for fraud.

By all means, please keep signing and screaming GT scam and see what comes out of it.

Shakitibobo:
Hi Guys, please let's stop all this. Really, can we get real for a moment!!! We can not all gang up and destroy our own indigenous companies under the guise of error in exchange rate. things are tough all over the world right now. companies are laying off to stay afloat and the few ones we have, we want to sue them to court and let me guess...... HUGE SUMS OF MANEY ABI? Banks are not Tech companies, they really on other companies to provide technical support and as bad as we hate to admit it, systems fail once in a while.

Due to a system error, they sold dollars at N199, if it were your own business, wont you recoup the loss. We all cant complain about Buhari badmouthing Nigeria where we also are doing the same thing. dragging the bank to twitter or facebook will only shortsell ourselves to the rest of the proud and convince them that we do not have a banking industry that is strong. if we do this, how will we now attract the foreign investment to grow the Naira. MTN, GLO, Airtel have all had several system failures and debited credit from our phones... My DSTV (PREMIUM) expired and I wasn't disconnected, the next time I paid, the instantly debited me and I understood. didn't go around creating a fuss over it. These things happen but doesn't give us the right to destroy our own... just my thoughts sha!!! lets build the economy and grow the Naira (we need these companies to achieve that)

GTB you guys ought to be a lot more careful by the way

God Bless

This is one of the issue why foreign investors will never come to invest in our economy, a place with no consumers' right. Will you invest your money in an institution without security? I've been having waivering mind about GTBank before this time, but this #GTBankScam has made me reason to put my capital elsewhere.
It is an eye-opener GTBank can wake-up one day and started telling me story-for-the-gods.

It is obvious, GTBank is living in past glory.

Whoever among GTBank IT staff that came up with such corporate scam has done more harm than good.

Tho' I'm not a victim of this #GTBank-199-to-a-$ scam, but I sympatized with my Nigerian brothers who were robbed by same financial institution that ought to protect their finances.

The only way to get the attention of gtbank is through social media. Trust me.
banks hate it when you try to tarnish their image on social media.

holuphisayor:
The only way to get the attention of gtbank is through social media. Trust me.
banks hate it when you try to tarnish their image on social media.

Yea, that is true. By now the hashtag should already be trending on twitter
#GTBankScam

When will this move to front page? If it's "I love him or her pls help" you will find it on front page ASAP . Anyway am with you guys full throttle, the only reason I did not fall for this scam is because I lost my debit card , as such could not use my card in Florida, otherwise I would have been sorry by now.

I agree. Use all available legal means to stop this nonsense. You can sue them if you feel you have a case. Dicuss with your lawyers first and determine the way forward. Most banks will gladly settle out of court to avoid the public scandal. Also if you go to court and win, Gtbank will be the one to pay your legal fees but court cases take a while and it takes a toll on your resources.

Please start gradually. I advise everyone involved to send a mail and cc who you need to. Cc ur lawyer in the mail. These mails will prove correspondence with gtbank. Explain the inconvenience their "banking error" has caused you etc. Let the correspondence run for a while before you take the next step.

Gtbank once provoked me to almost sue them. I went through pains to deactivate sms alerts years back. Only for me to to recently withdraw some money from the ATM and a prompt came up that my phone number is not in their system. I was shocked. Anyways computer nor dey lie so I updated my phone number and they asked if I wanted sms alert. Then I saw the fraud and promptly clicked NO. Lo and behold sms alerts started rolling in.

For two months they could not undo it inspite the several calls and office visits and emails. More scam. I promptly told them that if they charge me for the sms alerts without any evidence of me clicking yes, then it would result in a suit. I finally told them to delete my number from the system which solved the issue or so they said. No sms charge till today. Dem no born dem.

Same thing with airtel. Sent them mails severally to remove my line from postpaid. Went to the office to fill a form too. After 4 months I sent a final mail and did the necessary CC. I gave them 3 days to undo it. In 24hrs my line commot for postpaid. Dem no born dem.

Am still confused self, made an order of approx 134$ on Friday 27th february and was initially charged close to 40,500 then on saturday a refund of 13k+ was made so I thought I was been refunded based on the fact that the previous transaction was wrong. On Monday 29th February, made an order of approx 20$ was waiting for SMS to state their charge only to receive an SMS stating a negative 5k plus.
I never thought a bank could allow it's customer run into debt while it's not a loan.

Has the twitter tag been launched? We need to bombard them from all angles.

The twitter tag should be lunch please.... So we can start from they..

GTBank must be mad. Am in here

Let us launch the twitter hash tag #Gtbank scam

Let's see those rip-off thieves for everything they're worth!

einsteine:
Jokers, all of you. One has to be a fool and/or a thief to believe a bank would sell AUTONOMOUS dollars at a price BELOW interbank rates. As if that's not enough, you all went ahead to make bigger than usual purchases because you wanted to take advantage of an error on the part of the bank.

Don't presume to know what exactly you don't have facts for. A few weeks ago, just before the naira crashed, I was at my bank and asked what the card rate was; I was directed to the lady in charge of transactions on Dom accounts, specifically at opebi branch of gtb, from the customer service desk on the 1st floor.

When I asked her, after several reluctant and vague answers, ranging from: it's not static, to its determined by the merchant you are making purchase from (as in seriously! A merchant outside the shores of a country sets the exchange rate for a financial institution within the country?! ) to which I told her as much and told her: see take a good look at me: do I look stupid, or is there something about me that tells you I'm uninformed? She then reluctantly said within a whisper, that it's 199, excluding other processing fees. So I walked out of the bank, asking myself if she was right or was just like a lot of banking staffs, clueless and afraid to admit it.

I totally forgot about the whole incident anyways, especially after seeing varying rates on abokifx.com. But when a friend mentioned he was just charged at that rate for sending money via paypal, I felt wow! So she wasn't clueless after all and decided to get me a blackberry passport, which I had been eyeing for sometime now. After making the transaction, I was billed @202.44, which was in line with what a friend said she got billed using UBA, and that was that, until around 12am Monday morning when I got a new alert for the same transaction, now recalculated at 299.something and my account was now in negative of 16k+ which would account for 299/$ but by 12noon same day, another debit alert was placed, thereby doubling the negative balance to 33k+...so they are now what? Charging twice? Or its another 'system anomaly' and we still have to bear that a well?

Truth be told, even at the recalculated rate, it's still a good buy for me, although I woulda done better using ma stanbic. But what irks me is the nonchalant attitude of our banks, especially GTBANK, which doesn't seem to realize they are just living on past glory.

Now they have put the cart before the horse and sending out mails of apology to a handful of peeps, after debitting their accounts to negative balances. The apology and explanation shoulda come first, and a notice of reversed charges given or a request to decline the transaction on behalf of the customer if he/she says the new rate is not affordable.

That would have been the customer-oriented / customer-centric thing to do. If they don't want to absolve the losses. It's not rocket science...

Shakitibobo:
Hi Guys, please let's stop all this. Really, can we get real for a moment!!! We can not all gang up and destroy our own indigenous companies under the guise of error in exchange rate. things are tough all over the world right now. companies are laying off to stay afloat and the few ones we have, we want to sue them to court and let me guess...... HUGE SUMS OF MANEY ABI? Banks are not Tech companies, they really on other companies to provide technical support and as bad as we hate to admit it, systems fail once in a while.
Due to a system error, they sold dollars at N199, if it were your own business, wont you recoup the loss. We all cant complain about Buhari badmouthing Nigeria where we also are doing the same thing. dragging the bank to twitter or facebook will only shortsell ourselves to the rest of the proud and convince them that we do not have a banking industry that is strong. if we do this, how will we now attract the foreign investment to grow the Naira. MTN, GLO, Airtel have all had several system failures and debited credit from our phones... My DSTV (PREMIUM) expired and I wasn't disconnected, the next time I paid, the instantly debited me and I understood. didn't go around creating a fuss over it. These things happen but doesn't give us the right to destroy our own... just my thoughts sha!!! lets build the economy and grow the Naira (we need these companies to achieve that)
GTB you guys ought to be a lot more careful by the way
God Bless

So because the baby is crying whilst having his/her bath, he/she should be thrown out with the bathe water? We should settle for mediocrity cos wetin? It's a 9ja company? Abegi!!! If we want this beloved country of ours to reach its maximum potential, then we have to hold ourselves to a higher standard and not settle for business as usual!


@phony200: ur NL handle says it all...no need for further comment.

brokewaist:
It is this type of thinking that will further frustrate this country. I f you truly love your country you will consider what is best for her, a company that does not give priority to its customers has never been good for any country, we do not want from frying pan to fire. YES we want indigenous companies, but we do not want rogues who will come and syphon us of our hard earned currency. BANKS NEED to be transparent so customers can have faith in them. One of the reasons you cannot carry your money to the bank for them to invest for you the way people do in other countries is because a good majority of our banks are crooks and transactions with them are always shady.

ENOUGH IS ENOUGH.

WE have the power to make a CHANGE by protesting what is unjust and unlawful. LETS MAKE THE CHANGE, we do not need to wait for BUHARI.

i support you

Infinitikoncept:
Its people like the guy you quoted that shout Nigeria is bad yet they will give reasonable explanation to dummies like themselves on why it should be bad. Stop trying to educate such m****ns. Its a waste of time.

word

Bookiemart01:
Please show me the email or advert jingle GTB has ever sent you to inform you they now charge higher than Black Market.

GTB should pay for it's "system anomaly " as it is no fault of its customers.

Please tell me, if the rates were #199 and a "system anomaly " made them charge customers at #299, would they ever refund those customers? Would they even call it an anomaly? Wouldn't they just say "rates are not static, that was the rate for the weekend "

You might want to mind your business and leave those who were affected to find a solution to this.

Just know that "makan makan loyenkan".

please kindly provide d so called TERMS AND CONDITIONS SPECIFIED ABOVE And let us point out the facts for you and in case you dont know, you havent seen people complain doesnt mean people dont complain when we have a need to stand physically you il see all the facts you claim havent seen then

mavinc4u:
It looks like gtbank has started sending out mails regarding the issue.

i didnt get any o

toluxa1:
We should tweet at them with the hash tag #GtbankScam and also post on their Facebook page. Trust me, that's the best way to get their attention.

agree totally

einsteine:
Jokers, all of you. One has to be a fool and/or a thief to believe a bank would sell AUTONOMOUS dollars at a price BELOW interbank rates. As if that's not enough, you all went ahead to make bigger than usual purchases because you wanted to take advantage of an error on the part of the bank.

this wouldnt v been fun nor would d necessary organs involved known of this if people like you arent here to oppose the will of the people

mployer:
Well, I sympathize with you guys because most of you probably bought things you didn't really need that much, all because of the low rate. But I like being realistic, I stay with what works, not what I FEEL should work.

Saying you called GT customer care can't take you anywhere since GT didn't send you any mail with regard to the new rate you are talking about. If you are close to bankers you will understand that financial transactions are not authorized by oral instruction. You can tell your subordinate to do a transaction and he will decline requesting a mail to that effect. So, if you have a recent mail from GT stating the new rate, we can start from there.

Again, if the rate is 299, there is no rule that says you must be debited 299 at once. They can choose to debit you 199 first then 100 later. You only have a case against convenience of the system not legality of the system.

Lets not get too emotional about this and start throwing insults. I am just trying to make Ben Bruce #commonsense.

Been doing these transactions with GTB and other banks for years now. When you make International transactions, GTB holds funds for these transactions (called blocked funds which you can see if you log onto your Internet Banking portal on a laptop/desktop). When the merchant you purchased from requests for their money, it is that day they release the funds and you are finally debited. E.g you make a purchase on Amazon on February 24th 2016 and GTB exchange rate is 299/$. The Merchant did not ship out your item till February 26th 2016 , hence requested for the funds on same 26th. On 26th, GTB's rate was going for 199/$, that is the day you would be debited at 199/$ irrespective of what the rate was the initial day of purchase. So no, they do not charge you half one day and charge the rest of it later as you said or suggested. Yes you may say their system had an error which they sent a mail claiming that was what occurred over the weekend but it's not the fault of customers and customers should be compensated measurably not punished. This is why people are complaining. There are other issues they have e.g they never informed customers of additional fees because you selected payment in Naira when shopping on sites like Amazon ( you can choose to check out in Naira). Instead people woke up to seeing unanswered debits and some kept quiet. Diamond bank on the other hand, blocked that option, so that when you call customer care, they tell you to check out in $ instead of charging extra fees. Even though Diamond charges 336/$ they went about that a better way though they are more pricey than other banks.

Back to the matter, do tell, if you purchase a car on Friday from me for 2M and on Monday and I call telling you I miscalculated so I need an extra 1M, how would you feel? #There is no rule by CBN saying banks cannot charge the official rate for international transactions.

Phony200:







Question: If over the weekend, GTB has issues with the ATM system and withdrawals were not reflecting on your balance, so you mean people like you would go ahead and keep withdrawing your daily limits on all your cards and in your right mind conclude that since the bank made an error, your christmas has come early? You know what is right, you know the rate GT charges for card transactions. Why does it shock you to be charged the correct amount The hilarity is just too much.

i v said it before and i il again say it . no one is aware of the rates until transaction has pulled through if u call CC u il hear "we arent aware of the current rate especially on weekends we can only give you the last working day of tge weeks rate”

Everyone should calm down and resolve this issue with GTBank amicably.

Wish you all the best! !!

mavinc4u:
Your comparison does not make sense. If a bank should have such an issue and did not disconnect their cards as a maintenance issue then it means their customer's money is not safe with them.

you are on point . at this stage i suggest we creat a group be it facebook or whatsapp and make a collective move as we il always have agents of delay and distraction trying to toy with our collective goal

Phony200:
The funds you were debited initially came from your account. Are you telling me that if your card was not restricted to a daily/monthly limit, you would have gone on to spend $10,000 just because the rate was showing ₦199? The ATM withdrawal comparison is the same. If you have ₦5,000 in your account and go ahead to withdraw ₦5000 and you notice your balance is still ₦5,000, then you try another 5k and it goes, then 20k and it goes through again, will you complain when you find your account in -₦30,000 when the error is rectified?

Say you go to your neighbourhood grocery store and got charged lower than your purchase amount on Monday, and then you go back on tuesday and try to check out and you notice you were debited the total of Tuesday's shopping and the difference from the computer error on Monday, would you think you have grounds for a fraud argument because according to you, since they had a maintenance issue, they have to bear the loss and you have to bear the "miraculous provision offering"? No Ma'am, I disagree.

The analogy is sound. Denial is futile.

says who

mavinc4u:
It surprises me that someone like you would type such gibberish. Where you sleeping when people called gtbank customer care to confirm the rate and they confirmed it to them. Why would you confirm A only for you to do B.
Your point is baseless because customers have access to their card and can decide when or when not to make payment. Relate gtbank issue with what happened at the black market last week. You need to think wisely.

well said

papy4real:
@Phony200. Read your posts and i think you work for GTB with the way you're defending them. This whole issue is common sense trust me and this clearly shows part of the reason why Nigeria cannot progress because we are our own problems.

I know of an ecommerce site that had technical issues that allowed customers pay zero shipping fee online at checkout over a period of 3 days...this company and the team that made the mistake had to bear the cost because it was no fault of the customers. This is a clear example of taking RESPONSIBILITY of your mistakes.

When you're a business dealing with active customers who makes use of your service(s) 24/7, you just have to be careful, pay full attention to detail and create no room for mistakes because it can cost you losses which is exactly what happened to GTB over the weekend. Why didn't they block cards instantly when they discovered the error??

And guess what? They decided to take it all on their customers because they simply feel they can do as they like without being questioned which i'm sure they can't do in the UK or any other sensible Western country.

You talked about customer shopping when they knew the normal FX rate. The questions are:

1. ARE FX rates the same across all banks?
Ans: NO

2. DO GTB send daily mails informing customers of their FX rates?
Ans: NO

3. Did they send a mail when the anomaly was discovered informing customers to shop at their own risk?
Ans: NO

4. Did CBN give banks the liberty to set their own rates and can banks set their FX at any price(199-less than black market price)
Ans: YES

5. Could the weekend rate have been a deliberate attempt to attract more card user, make them spend more than usual and then charge them the usual GTB rate afterwards knowing fully well that customers would just rant and keep shut later?
Ans: YES

Banks simply set the rate as they want which varies daily. Therefore, don't blame customers that shopped or withdrew money within that period cos it is non of the customers business.

N.B: I don't even have a GTB account but the truth just needs to be told. Its high time Nigerians show this guys that they can't keep treating us like illiterates.

BE ELIGHTENED

you took the words and thought right out of me

Are you sure you read and understand what I wrote?

gbodimowo:
please kindly provide d so called TERMS AND CONDITIONS SPECIFIED ABOVE And let us point out the facts for you and in case you dont know, you havent seen people complain doesnt mean people dont complain when we have a need to stand physically you il see all the facts you claim havent seen then

Here is it again so you know we are on the same side. My account is on negative atm.

Bookiemart01:
Please show me the email or advert jingle GTB has ever sent you to inform you they now charge higher than Black Market.
GTB should pay for it's "system anomaly " as it is no fault of its customers.
Please tell me, if the rates were #199 and a "system anomaly " made them charge customers at #299, would they ever refund those customers? Would they even call it an anomaly? Wouldn't they just say "rates are not static, that was the rate for the weekend "
You might want to mind your business and leave those who were affected to find a solution to this.
Just know that "makan makan loyenkan".