Una Don forget say govt just dash una money?
So una feel say dem no go collect am back?

ignis:

Come and beat us.

No Madam/Sir, it's really not necessary. Besides, I don't hit people.

Lucas4903:
It is thesame in Canada. Be sure u have money in your account before any transaction. If it fails. You will be penalized $45CAD. For me this move isnt strange. But to be candid na who no get money suppose they fear this move or how this move affect Iya Ebuka for market or Iya Ikimot. Even Bala wey dey sell groundnut will not bulge about this. But for the banked population we sure know the rules. If u agree to have a transaction done through the banks, then be sure u have money to pull it through.
#JustMyThoughts.

Many of those people commenting don't understand the issue

techmo:



Direct debit transaction that's what the thread reads... Are direct debit transaction only cheques?!

.

Yes, which is subject to the transaction you made or initiated knowing fully well you have no money or monies wont be available @ d maturity of such transactions with the intention to cheat or defraud.

In other words it means if you have an existing fund in such account before initiating such transaction you wont be charged

Na wah oo for how some pple dey comprehend somfinz sha

[quote author=Globad post=96239748]

How is the country wicked for this?

Shouldn't a dud cheque or a failed transaction come with charges or a penalty? What of the charges incurred by those two processed it? Who will pay?

If you don't have enough balance in your account, don't issue a standing order or direct debit, or cancel the one you have issued.

It is irresponsible to issue or sustain a direct debit on unfunded accounts. It's also criminal if it's for a service that you have already enjoyed.

On this one, I don't see why Nigeria is a wicked country as you have said unless you're willing to educate me on it.[/

Government at all levels in Nigeria do not pay salaries as at when due. What happens to a government officials that has set up a direct deposit and government fails to pay him/her his/her salary as at when due? Are you saying the account holder should be penalized or what should be done in this case. Educate me pls thanks.

Globad:


How is the country wicked for this?

Shouldn't a dud cheque or a failed transaction come with charges or a penalty? What of the charges incurred by those two processed it? Who will pay?

If you don't have enough balance in your account, don't issue a standing order or direct debit, or cancel the one you have issued.

It is irresponsible to issue or sustain a direct debit on unfunded accounts. It's also criminal if it's for a service that you have already enjoyed.

On this one, I don't see why Nigeria is a wicked country as you have said unless you're willing to educate me on it.

Yes you’re right, but what of instances where the you have the required amount in your account, but the bank makes those irritating 15/20 naira deductions and you didn’t receive a notification and you initiate a transaction, it fails and you still get charged because of this policy

Bossontop:
Wickedness of the highest order!!!...... Make dem kukuma start dey buy coffin for all of us for dis country......

Na only you them go buy coffin for

Globad:


How is the country wicked for this?

Shouldn't a dud cheque or a failed transaction come with charges or a penalty? What of the charges incurred by those two processed it? Who will pay?

If you don't have enough balance in your account, don't issue a standing order or direct debit, or cancel the one you have issued.

It is irresponsible to issue or sustain a direct debit on unfunded accounts. It's also criminal if it's for a service that you have already enjoyed.

On this one, I don't see why Nigeria is a wicked country as you have said unless you're willing to educate me on it.

Government at all levels in Nigeria do not pay salaries as at when due. What happens to a government officials that has set up a direct deposit and government fails to pay him/her his/her salary as at when due? Are you saying the account holder should be penalized or what should be done in this case. Educate me pls thanks.

Karlovich:
, From all of us at vulturebbqgrills we thank you our darling daddy for the extreme wickedness you have bestowed on your adopted country. Everything has been turned upside down since you assumed the rigged position, the hardship is immense and affecting every single sector and they are emulating your wickedness and heartless character. Happy birthday to Goodluck Jonathan, may your days be long

this Buhari's government is full of idiots and foolish people... Nonsense everywhere

haha

Bossontop:
Wickedness of the highest order!!!...... Make dem kukuma start dey buy coffin for all of us for dis country......

InvisibleB:


The guy does not post all that bullshit anymore with that account. What happened?

Their darling daddy has abandoned them

Pious101:
They are thieves

How?

Karlovich:
, From all of us at vulturebbqgrills we thank you our darling daddy for the extreme wickedness you have bestowed on your adopted country. Everything has been turned upside down since you assumed the rigged position, the hardship is immense and affecting every single sector and they are emulating your wickedness and heartless character. Happy birthday to Goodluck Jonathan, may your days be long

Mehn u be writer...best comment ever

NSF fee.

am still waiting for bicycle license number

Well Said... For those alarmed or worried by the news because they saw "direct debit".

Direct debit is very different from regular debit transactions or online pos transactions. its an instruction you give to your bank via online or in person to debit your account on a particular date every month or till you cancel eg pay dstv 15k every 3rd of the month. dstv tried to take that money every 3rd and if it fails due to insufficient funds, then cbn says you will be charged

Less than 1% banking nigerians use direct debit instructions so this news does not really affect a lot of people fussing over it

INTEGRITYA1:
The policy is for "Standing Order" transactions. Is not for every failed transactions as many people misinterpreted it.

Like if you instruct your bank to debit from your account to make third party transaction on your behalf, let said every 25th of every month; your bank should make payment of 50k to so so account.

Make sure before 25th your account is credited to effect the transaction, if not you will be charged if bank should try that transaction as been instructed and failed due to lack of fund in your account.

Globad:


How is the country wicked for this?

Shouldn't a dud cheque or a failed transaction come with charges or a penalty? What of the charges incurred by those two processed it? Who will pay?

If you don't have enough balance in your account, don't issue a standing order or direct debit, or cancel the one you have issued.

It is irresponsible to issue or sustain a direct debit on unfunded accounts. It's also criminal if it's for a service that you have already enjoyed.

On this one, I don't see why Nigeria is a wicked country as you have said unless you're willing to educate me on it.

Thank God you know you need to be educated on it, in short you need to be schooled thoroughly like a toddler. A dud cheque is not in any way a mutually synonymous comparison to a failed debit transaction. Mr A. has 2.1m in his account. Then someone else transfers 5m to him. In his mind, his balance is 7.1m, but due to bank and their fraudulent ways, some charges are deducted without him knowing. And then you literally have a situation where these crooked banks are running 2 balances side by side: LEDGER balance and Account balance. Later he tries to transfer 7.1m because he was seeing ledger balance of 7.10159m, but the transaction fails, because he has 7.1m + N159 in his ledger account but his actual money is 7.095m due to some bank charges magically deducted lowkey. The transaction fails. Now CBN wants to penalize the customer for that and deduct money again. Is that not wickedness like that Techmo guy said?

So if someone mistakenly type one million naira now which is above the person's balance, that means the person is in gobe.


How are these useless buffoons thinking about these policies self?

Globad:


How is not having enough balance in your account to support your own instruction not intentional?

Do you know the implications of this for the provider of the service you have enjoyed?

Why can't you cancel the instruction if you don't have enough money?

On the other hand; CBN is going to close down the standing order aspect of Nigeria banking.

When there is no longer a president but presidency.

Globad:


How is the country wicked for this?

Shouldn't a dud cheque or a failed transaction come with charges or a penalty? What of the charges incurred by those two processed it? Who will pay?

If you don't have enough balance in your account, don't issue a standing order or direct debit, or cancel the one you have issued.

It is irresponsible to issue or sustain a direct debit on unfunded accounts. It's also criminal if it's for a service that you have already enjoyed.

On this one, I don't see why Nigeria is a wicked country as you have said unless you're willing to educate me on it.

Why border yourself, most of this guys dont read they only make comment on headlines

techmo:


In UAE, on my NBAD account never am I charged a penny for any transaction, and this is because all transactions are basically handled electronically, and my deposited fund is invested frequently giving. Them required profit to run the Banking Software Finacle needed for simple transaction

Why charge customers for a failed transaction when this can happen for various reasons which are not intentional



.

The policy applies only to unfunded accounts. It will not apply when transactions fail due to other reason like network problem.

Summary is that dont initiate transaction or issue cheques, when accounts are not funded.

This can be avoided

alizma:

Do you understand the policy or you just type without clear understanding? The government is protecting your interest and you call that wickedness, what type of human being are you?
The new policy is targeted at people that issue cheques knowing fully well that they don't have money in their account or that they will not be able to find the account before the maturity of the cheque.
In developed countries, cheque is as good as cash because you dare not issue cheques against unfunded account but here in Nigeria, people see cheque as a professional way of rubbing business partners. They collect goods and give you cheque knowing fully well there is no money in the account.

No you are wrong. It is not about cheque, it is about standing by order.

All of you must know , they used to do this in the UK, and eventually they stopped, and the courts orded the banks to pay people back all the money they were charged.

Since the UK still runs Nigeria, they are trying to do to you, what has been accepted to be an error in UK.

Stop playing victim at all times. If you have a standing instruction on your account, you should be responsible enough to ensure that it's funded at the right time.

I think we really need to understand stand what CBN is driving at, before labasting the government.

This move has it merits and demerits.
For any establishment that pays her employee using salary account, would not find this funny.
If at the time you always pay your workers and there's no fund for such, and the bank have a standing order to always pay at a certain date. It means the establishment would not only be paying for the normal charges but as well this extra charge. This is not fair at all.

But for those found of issuing DUD cheque it's a good move to checkmate this habit

Raydos:
LOL i know this will deteriorate to this level, I literally stopped using Bank Last Month, I withdrew all my money!!

What prompted me to this, is because last month, I had no money in my account, So I saved up #2,000, and to my greatest surprise I received credit alert which says, "#1,950 has been deposited to your account, #50 was deducted!!!! I was like WTF??


A couple of days later, I went to withdraw #1000, and then again, #50 was deducted from my account, So this people literally bill me for every transaction I make!!


What kind of exploitation is that?? This country Is so fùçkēd up, Since Crude oil is becoming worthless now, Government are looking for ways to Exploit the citizens by all means to further continue their Looting!!


I will rather buy a piggy bank and saved up my money in there!!

Me nko. Fcmb. During corona, I had no money 900 in the bank. I did no transactions. Months later after lockdown when I wanted to run the acct it was - 3750! I wrote them email and tweeter. Till today no response. Immediately someone paid money in, they took the 3750!

Questions:

1. What happens when the transaction doesn't go through because of banks' technical issues?

2. What if the transaction doesn't go through because of network providers issues?

3. What if you write a check against a date as a government worker and the government doesn't pay on time or pays late?

Those who are making comparisons with Canada and other developed countries shouldn't forget that these countries experience seamless online and mobile transactions and their governments neither owe workers' salaries nor pay late.

It seems a majority of people commenting did not read the article.

People will soon embrace other alternatives for saving wealth. Doing business or exploring crytocurrencies

Globad:


You dey mind them?

Our thinking is slightly warped..... I ṣee those wey dey yarb you....... Unfortunately, they cannot see pass their nose......... Just ignore them, biko........

Dear fellow Nairalanders, I greet you all in the name of our loving God, who wishes that we prosper even as our souls prospers. Please, read this carefully and enjoy the typo errors therein if at all you come by one. This is just to enlighten us that as the bible has stated it would happen, so it is happening before our very evey. The government of the whole world, spearheaded by the USA, and our religious leaders are leading us all to pay allegiance to the Pope of the Catholic church in apostasy so as not to escape the wrath of God spoken of in Revelation 13 & 14. We were promised a lot in 2020, little did we know that 2020 is the beginning of the end. If doubt me, I pray it will not be too late for you to discover the truth so as to be set free. Covid-19 was the launch pad on which all of the schemes are going to be executed before God will punish them all in the final battle of the Great Controversy. See this video as a further prove of another lockdown that is in the pipeline before the forceful vaccination starts.
https://www.youtube.com/watch?v=8L-y33ZdlYk.
We will all be forced to worship on Sunday as a way of desecrating God's 7th day Sabbath. Take heed and wake up, Covid-19 was patented in 2015 for this purpose. As it was said to be a sabbath for the earth to rest, search for facts online. Persecution is here, little wonder why the government is killing the masses with every opportunity they get, secretly or openly. Jesus said when we see this things, we should know that this is the beginning of sorrow but we have to be of good courage, fearless, and die for the his sake to gain eternal life. Still wondering why the "compulsory" vaccine is priority to the Nigerian government amidst ASUU Strike, corruption, incessant killing, protest against injustice and bad governance, high cost of living, Boko-haram, Herdsmen, bad road, police brutality, epileptic power supply, banditry, etc.- https://www.nairaland.com/6254317/osinbajo-acquiring-covid-19-vaccine-citizens.
They ate the tools of the evil spirit at work in men. Let's turn to God now, even as the signs of Christ's coming are so glaring. The conditioning system - wearing of nose mask, the use of hand sanitizer, social distancing, and the lockdown are their "draconian" safety measure put in place to control us as puppets and dummies. NOTE: Covid-19 is a political virus that never directly killed anyone, persons with underlying ailments, depression, fear, and suicide are what killed people as the its victims a very high chances of recovering. Reduce or avoid taking sugar, it reduces the power of the antibodies as such, when an ailment like Covid-19 strikes, there will be no antibodies to fight back, and when the person dies, irrespective of the cause of the death, all is attributed to Covid-19. Thereby making it more popular and dreaded. Fear has killed more people than Covid-19 and the bible has said the hearts of men will fail for fear. For we wrestle not against flesh and blood but against principalities and powers, and rulers of darkness in high places. May God open our eyes to see and turn from our wicked ways, and to endure the unavoidable hardships, so as that we won't miss heaven in Jesus' name.