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Nairaland Forum / Nairaland / General / Business / Understanding The Cash-less Policy (21635 Views)
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Re: Understanding The Cash-less Policy by Nobody: 2:49pm On Sep 20, 2019 |
Logobenz: In logobenz book it is more convenient to be carrying millions in two Ghana must go upandan market or between customers than in a phone. There must be something I'm missing about the convenience and safety of lugging huge sums of money about. 4 Likes |
Re: Understanding The Cash-less Policy by Thegamingorca(m): 2:50pm On Sep 20, 2019 |
Logobenz: Most community pharmaceuticals out here make 30% profits retailing on all stocks. Imagine running 3 of such with a net take home of roughly 200 each. |
Re: Understanding The Cash-less Policy by Nobody: 2:52pm On Sep 20, 2019 |
Thegamingorca: My man the gamingorca pushing that codeine |
Re: Understanding The Cash-less Policy by Nobody: 2:56pm On Sep 20, 2019 |
Thegamingorca:How do you know this sir? I am not talking of in house pharmacies in hospitals since we know they hike prices of the roof! Do normal pharmacies outside hospitals make that much on a daily? I am not in any health related business but I know a thing or 2 about business and 20% net profit sounds hard to believe. I might be wrong though. 1 Like |
Re: Understanding The Cash-less Policy by Nobody: 3:00pm On Sep 20, 2019 |
ornicus:you are missing my point. I Said to the people that do that,making them carry money in phones can be difficult cause I did that too some years back in cemetery market,Aba as a young boy looking for headway.so I know how those kind of people think and operate. If you reach South one day,holla at a nigga make I take you go Aba make you see what I am saying. These people will want to buy from you and dump a lot of money on you putting you in risk. |
Re: Understanding The Cash-less Policy by openmine(m): 3:01pm On Sep 20, 2019 |
TRIGITIS:Exactly! 1 Like |
Re: Understanding The Cash-less Policy by Mrquote: 3:04pm On Sep 20, 2019 |
Bro are you say those pp over there don't pay custom duit and VAT hmmmm islandmoon: |
Re: Understanding The Cash-less Policy by Nobody: 3:06pm On Sep 20, 2019 |
Logobenz: Na resistance to change. One can make same arguments against GSM vs nitel before adoption.Phone can die anytime, they can steal your phone, etc. These people will want to buy from you and dump a lot of money on you putting you in risk. That format where they pay you late and Rob you later that night. All this cashless has led to sharp reduction in home invasions. 1 Like |
Re: Understanding The Cash-less Policy by Theflint1(m): 3:08pm On Sep 20, 2019 |
When you divide that 20% profit into salaries, rent, office maintenance, gas, and others you'd realize that the 4k each day is a burden. Remember the business has to pay tax too. In a country where the budget for the legislature is rubbing shoulders with that of the police force, this is the wrong policy. Thegamingorca: 1 Like |
Re: Understanding The Cash-less Policy by Mrquote: 3:09pm On Sep 20, 2019 |
In future time some of us here we earn more than this so take Ur shit some were else netpro: 2 Likes |
Re: Understanding The Cash-less Policy by Mrquote: 3:11pm On Sep 20, 2019 |
Have u asked Ur self how the implementation of this have an effect to Ur life. Do u make up to 5hk a Mouth Realdeals: |
Re: Understanding The Cash-less Policy by Nobody: 3:14pm On Sep 20, 2019 |
pocohantas: i think you do not understand what i have been writing down even though banks do have their atm all over the places in the main cities, the main reason why i can use another bank atm is because of convenience Now cbn brought a law that if a customer want to use another bank atm, the bank will charge the customer a service fee of 65 naira if the customer uses that atm more than 3 time but what banks are doing is charging customers that do not bank with them 65 naira for just using their atm once. (if i bank with gtb and decides to use zenith banks atm for convenience sake, i will be charged 65 naira for just using the atm once, that is against cbn directives) |
Re: Understanding The Cash-less Policy by JKisOK(m): 3:14pm On Sep 20, 2019 |
Edu3Again: You really mean 5 out of 6 states actually. Five of the six states earmarked for implementation come from the South. The only Northern state for implementation is: 1. Kano Meanwhile, the policy will swing off in five states of the South: 1. Ogun 2. Lagos 3. Abia 4. Anambra 5. Rivers 1 Like |
Re: Understanding The Cash-less Policy by Mrquote: 3:16pm On Sep 20, 2019 |
Have u actually done a trans and is not complete Do u expect me to give you my goods and I haven't seen any alert bro We have to get some many shit right in this country first Starting from our internet connection Let 4G be 4G Thanks Logobenz: 1 Like |
Re: Understanding The Cash-less Policy by pocohantas(f): 3:21pm On Sep 20, 2019 |
thebosstrevor: Wow! Now I get you. Thought you were against the charges even after exhausting your lifeline. Yes, it is against the directive and I am surprised to read this. I would like to add that it isn't until you use "Zenith" more than 3 times. If you have used Polaris, Union and FBN once each, Zenith would count as the 4th- so charges will apply. Hope this wasn't your case. 1 Like |
Re: Understanding The Cash-less Policy by Nobody: 3:24pm On Sep 20, 2019 |
pocohantas: And once it's not your bank, you can only do 10k max withdrawal per transaction. They must to hammer that 65k. 1 Like |
Re: Understanding The Cash-less Policy by pocohantas(f): 3:33pm On Sep 20, 2019 |
ornicus: Lmao. These banks are crazyyyy! |
Re: Understanding The Cash-less Policy by Nobody: 3:34pm On Sep 20, 2019 |
pocohantas: infact, i am even against the charges, atm and online banking services are suppose to be value added benefits for customers but here in Nigeria since the body protecting customers is docile, the banks have continue to rip off Nigerians but then again banks want people to come bank with them. 3 Likes |
Re: Understanding The Cash-less Policy by EYITEELOG(m): 3:39pm On Sep 20, 2019 |
What is iniquitous about Bank Charges in Nigeria however, is the compulsory nature of many of them; their many titles & how most of d charges apply regardless of your banking habits. You can deposit N1millon into a current account in Nigeria, don’t use... The account at all but come back in 5yrs to meet Thousands has been deducted in numerous charges by the bank. CBN is headed by a Banker who is sympathetic to his constituency (commercial banks) & their need for more profit. Hence even d restrictions imposed by Sanusi that reduced d burden of charges have been reversed by Emefiele... Next Level Intro... Legal Robbery 3 Likes |
Re: Understanding The Cash-less Policy by Theflint1(m): 3:56pm On Sep 20, 2019 |
EYITEELOG: Nigerian banks are not creative...these monies can be collected in a manner that the client gets some form of value. 3 Likes |
Re: Understanding The Cash-less Policy by rexlims(m): 4:00pm On Sep 20, 2019 |
Mopolchi:man I suppose u are an economist cos it is only an economist that sees things both ways. This policy is driven by some bigwigs in d banking industry. Then again who benefits more from this policy is it d govt, d dmbs or d ordinary man. 1 Like |
Re: Understanding The Cash-less Policy by King44(m): 4:09pm On Sep 20, 2019 |
no matter how small u made the charges look theft by trade is still theft those are unnecessary charges they should make rooms for those excess deposit and stop trying to scam people, banks are already making profit by giving out the deposited money as loans etc raking in huge profit is that not enough u said it's just 20 naira times that #20 by the numbers of people who make deposits above that stipulated amount daily,monthly and yearly per bank n c how much they are going to rake in at the end of the day, this is just too much 1 Like |
Re: Understanding The Cash-less Policy by islandmoon: 4:11pm On Sep 20, 2019 |
Mrquote: how many times have you read on the news that customs impound cars in the north like they do in south west cities and Benin express way? 1 Like |
Re: Understanding The Cash-less Policy by pocohantas(f): 4:20pm On Sep 20, 2019 |
King44: I didn't make the charges look small, I only explained the policy. You all should stop transferring your aggressions on me. I am not CBN or their rep. I am not immune to these charges either. The money isn't going to the bank. It goes to CBN. At least you know who to face now. |
Re: Understanding The Cash-less Policy by VajanahDischaj(f): 4:21pm On Sep 20, 2019 |
its high time we start learning crypto currencies. thats just the sure way now. . . intelligent g_boys n hackers use crypto. |
Re: Understanding The Cash-less Policy by Sleevia: 5:00pm On Sep 20, 2019 |
netpro:So what if someone transfers 550k to my bank account electronically, will this charges apply? |
Re: Understanding The Cash-less Policy by pocohantas(f): 5:01pm On Sep 20, 2019 |
Sleevia: NO |
Re: Understanding The Cash-less Policy by netpro(m): 5:05pm On Sep 20, 2019 |
Mrquote: Once you start making 500,000 daily, the charges will be peanuts. As we do say "big man, big wahala". |
Re: Understanding The Cash-less Policy by netpro(m): 5:09pm On Sep 20, 2019 |
Sleevia: No. If the person transfer electronically, it will not be charged for any of you. If he paid cash, the charges will be for the amount above the 500,000. |
Re: Understanding The Cash-less Policy by Thegamingorca(m): 5:15pm On Sep 20, 2019 |
ornicus: |
Re: Understanding The Cash-less Policy by MUHDAI(m): 5:15pm On Sep 20, 2019 |
islandmoon:it is not safe anywhere bro. But maybe, the probability of finding such a car in Lagos is much higher than Kano, hence, Lagos attracts more attention |
Re: Understanding The Cash-less Policy by Sleevia: 5:22pm On Sep 20, 2019 |
netpro:Thank you. I do not do cash business. All my transactions are electronically. When I go to the bank, I see people bundle of money... and I shake my head. One reason is if they are rob now, they will say na village people, neglecting their own stupidity. But I read that some kind of businesses like Filling station are exempted or given some incentives on this. 1 Like |
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