Banks Stop Cash Withdrawal From Overseas Atms - Business (2)

Banks Stop Cash Withdrawal From Overseas Atms - Business (2) - Nairaland

Nairaland Forum › Nairaland General › Business › Banks Stop Cash Withdrawal From Overseas Atms (20648 Views)

Re: Banks Stop Cash Withdrawal From Overseas Atms by Nobody: 11:21am On Jul 09, 2018

dingbang:
this happens when you have an incompetent CBN governor

No! Inconsistency in policies is done due to re-strategizing, This is necessary to block loop holes exploited by financial intelligent people and business men, If not checked and block , this could diminish the value of currency or too much money in circulation.

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Re: Banks Stop Cash Withdrawal From Overseas Atms by Nobody: 11:22am On Jul 09, 2018

[quote author= post=69204865]Banks have suspended all cash withdrawals from overseas Automated Teller Machines (ATMs), except for customers whose cards are linked to domiciliary accounts funded locally, The Nation has learnt.

Fair enough.[/quote]Please don't take this the wrong way.... You be admin on nairaland?

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Re: Banks Stop Cash Withdrawal From Overseas Atms by erico2k2(m): 11:24am On Jul 09, 2018

GavelSlam:
You deposited Naira, right?

They can limit you on the forex you wish to get from the banks.

Put dollar in and receive dollar.

Im not talking about naira account Im talking Dollar account

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Re: Banks Stop Cash Withdrawal From Overseas Atms by GavelSlam: 11:27am On Jul 09, 2018

erico2k2:
Im not talking about naira account Im talking Dollar account

Your dollar account must have been deposited with dollars, correct?

If that's the case, there's no limit to how much you can withdraw.

Re: Banks Stop Cash Withdrawal From Overseas Atms by Butterflyleo: 11:31am On Jul 09, 2018

GidiWoodsMan:
You're a total idiot. What benefit do the banks add to your life when the 'increase' spending limits on dollars sourced by you?

You need to refrain from calling me an idiot and also need to stop talking stupid.

https://am24.akamaized.net/tms/cnt/uploads/2016/01/batman-slaps-robin-495x480.jpeg

Now to the main issue.

Who told you, you have to source for forex yourself? Do you think the CBN do not know how to systematically roll out policies?

The CBN issued a directive to banks in may this year, instructing them to sell forex over the counter to people

http://thenationonlineng.net/cbn-mandates-banks-to-sell-forex-to-customers-over-the-counter/

This was before what you are reading now in the OP. They were trying to make it all easier but trust Nigerians and their cry baby mentality.

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Re: Banks Stop Cash Withdrawal From Overseas Atms by GavelSlam: 11:31am On Jul 09, 2018

GidiWoodsMan:
You're a total idiot. What benefit do the banks add to your life when they 'increase' spending limits on dollars sourced by yourself?

Before you call someone an idiot, read to understand.

Banks have been encouraging travellers to open and fund dollar accounts, which aside having no spending limits, provide them the flexibility to spend at all times.

So what dollar did you put in that a limit was placed on?

Re: Banks Stop Cash Withdrawal From Overseas Atms by mybestlove(m): 11:32am On Jul 09, 2018

If I can't use my card for my transactions as I need to, why should the bank charge me card maintenance fee?

Nigerian banks are fraudsters. By the end of the year bank directors will share their billions which the unlawful made from we "mumu Nigerians"

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Re: Banks Stop Cash Withdrawal From Overseas Atms by Nobody: 11:34am On Jul 09, 2018

Nukilia:
Inconsistencies in banking policies!

Wow, you not even informed about the economy but quick to critics about what you know nothing of........ Inconsistencies in banking policies is done due to re-strategizing, This is necessary to block loop holes exploited by financial intelligent people and business men, If not checked and blocked , this could diminish the value of the currency or too much money in circulation.

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Re: Banks Stop Cash Withdrawal From Overseas Atms by brodalokie: 11:36am On Jul 09, 2018

This is not new.

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Re: Banks Stop Cash Withdrawal From Overseas Atms by jjmk(m): 12:08pm On Jul 09, 2018

Nukilia:
Inconsistencies in banking policies!

Exactly, too many flip flops.

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Re: Banks Stop Cash Withdrawal From Overseas Atms by Nobody: 12:08pm On Jul 09, 2018

the only reason that i still use FCMB

Re: Banks Stop Cash Withdrawal From Overseas Atms by erico2k2(m): 12:13pm On Jul 09, 2018

aaronson:
No! Inconsistency in policies is done due to re-strategizing, This is necessary to block loop holes exploited by financial intelligent people and business men, If not checked and block , this could diminish the value of currency or too much money in circulation.

This is where you lot get it wrong, these antics are controlled by few individuals, and people who get dollar in lower rate.

Re: Banks Stop Cash Withdrawal From Overseas Atms by erico2k2(m): 12:21pm On Jul 09, 2018

GavelSlam:
Your dollar account must have been deposited with dollars, correct?

If that's the case, there's no limit to how much you can withdraw.

it was not clearly stated, that was what that guy you quoted was trying to say, read the 1st lines and the other bits it does not specify which accounts both cards are linked to. There are cases in the past I have put my holiday money in my dollar account, when I came back, I could not collect even my own money apparently they do not have dollar. I don't trust these folks as they got no one monitoring them.

Re: Banks Stop Cash Withdrawal From Overseas Atms by GavelSlam: 12:33pm On Jul 09, 2018

erico2k2:
it was not clearly stated, that was what that guy you quoted was trying to say, read the 1st lines and the other bits it does not specify which accounts both cards are linked to. There are cases in the past I have put my holiday money in my dollar account, when I came back, I could not collect even my own money apparently they do not have dollar. I don't trust these folks as they got no one monitoring them.

I don't know anything about your bank and the problems they might have had. But I can tell you with certainty that standard chartered bank has never had that problem.

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Re: Banks Stop Cash Withdrawal From Overseas Atms by erico2k2(m): 12:35pm On Jul 09, 2018

GavelSlam:

I don't know anything about your bank and the problems they might have had. But I can tell you with certainty that standard chartered bank has never had that problem.

OK noted, me I nor do with 9ja banks again, whenever I get there I wire my money straight to my savings account, end off, I nor fit shout!

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Re: Banks Stop Cash Withdrawal From Overseas Atms by Nobody: 1:12pm On Jul 09, 2018

nigeria with their back and forth policy.. this has been since 2014!

Re: Banks Stop Cash Withdrawal From Overseas Atms by Grupo(m): 2:23pm On Jul 09, 2018

erico2k2:
how is this fair. imagine $5k in a whole month

A BMC member doesn't understand anything else apart from his ₦30k monthly stipend.

Re: Banks Stop Cash Withdrawal From Overseas Atms by Emmacolinho(m): 3:30pm On Jul 09, 2018

Now i know the meaning of POS wink

Re: Banks Stop Cash Withdrawal From Overseas Atms by erico2k2(m): 4:19pm On Jul 09, 2018

Grupo:
A BMC member doesn't understand anything else apart from his ₦30k monthly stipend.

Noted

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Re: Banks Stop Cash Withdrawal From Overseas Atms by Uwaiwe: 7:14pm On Jul 09, 2018

Since Bubu came into power that Was the first policy he implemented.Since Jan 2016 I have been suffering the embarrassment each time I travel abroad. It sounds so stupid when you tell people abroad that you can't withdraw with Nigerian cards. So stupid a government.

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