₦airaland Forum

Your answers;



1. Yes, they retrieve the policy document when you want to terminate your investment. It's not ur property
2. And I suspect they don't have an up to date record for all ur deposits and hence, they need ur receipts to confirm the payments.

I won't register until we have a functional database





Now here is an unrelated picture

excellentmomma:
Mr, and how many days are in the holiday?

You can't call your bank to stop an "approved" transaction. You can only write for a refund which will take a process and not during the holiday. I have handled POS refunds hands on not copied from cbn site. Lolzz

Admit it when u goof. Your first statement which I replied read
"2. So your friend could not contact his bank to have his card blocked and account frozen immediately the robbers left?"

Blocking his card and freezing his account which money left from is irrelevant in recovering the lost money. It can only protect money left in the account.

So my point is the OP's incidence can happen, the only thing it's not sustainable esp when there are no long hols like we just had.

You are getting this wrong? It's not a competition...There is no prize to be won....

My humble submission is based on what the OP said;

They visited them with POS machines and moved from flat to flat, demanding you make transactions into their account at gunpoint. Once the transaction pulls through, they take your cards, record your pin and they are off to the next flat.

So they only confirmed the PIN and did not drain the account at a go. Correct?

In this way, they drained virtually all the cash in his 3 accounts over the weekend.

This also corroborates the assumption that the transactions on POS happened severally over the weekend and not once.

Can you clearly see the basis why I advised that the account should have been frozen or card blocked.


Approved transaction cannot be stopped? So I thought.


I once innocently paid cash into a fraudster's account and he withdrew it instantly. But I got my money paid, can you imagine?

Please let's put this to rest already or maybe not...

excellentmomma:
Guy I'm a banker and I can tell u this is 2,000% possible.

Let's say they came with just one Pos linked to one of their accounts. And they transferred N200k each from 10 flats, that's N2M.

The other members of the gang also has random accounts loosely opened with porous kyc (rem Naija doesn't have a proper ID system and database, you take whatever the customer presents especially when it's seen as a casual savings account).

Now op said this happened during this long hols, let's assume on Wed 23rd nite.
Now they have, 23, 24, 25, 26, 27, and 28 and even 29th early morning (5, 6 or 7 solid days to conclude their criminal acts)

The 2M gets shared into 3, that's 2 more accs of their gang members, 700k, 700k and 600k.

Next action, withdraw 100k daily from the different accs, some banks allow more. They can do POS purchases as well of goods they can easily sell off.

On the bolded, they have already robbed them of their funds, monies have left their accs to the robbers accounts, is she gonna call her bank to block an empty account? Unless to protect the monies left if any. They don't have the robbers' acc details remember?

So this can happen live.
I have seen where ATM cards are cloned and used to make airline Bleep purchases, esp those days of magnetic strip cards. Nobody can hold the recipient of such Pos transfers liable especially if they actually sell what funds were transferred for. Nobody comes to buy from you and you go asking them for source of funds or if they are criminals.

Dear banker, Has this changed? "The settlement for all POS transactions must be done to the merchant account on T + 1 basis, where T is the date the transaction is performed. "

http://www.cenbank.org/cashless/POS_GUIDELINES_August2011_FINAL_FINAL%20(2).pdf

If your answer is no, then ur premise does not hold water. POS transactions are not settlement immediately, even when your account is debited by the acquiring bank when a transaction is consummated. The merchant's account will only be credit a day after the transaction. So the robbers will not have access to the funds instantly. And I can still call my bank to decline the fraudulent transaction.

ladej:
I haven't either but I know it's scary. if you're tied up before they leave there will be no contact centre till they are far gone.may we pray to live in estates where crime is a thing of the past.I know a guy who a thief robbed him around 7 in the evening. gun point. he withdrew 150k at gun point

what will contact centre do at that point?

make God dey protect us bro.

That's the interesting thing about POS transactions. They are settled at EOD - End of day (about 24 hours). That's why it is called T+1. Except they were tried for the entire weekend.

mscheww

Yes self defense....But wetin the sibling dey look when the drama ensued? Since he could give siuch narrative account





Hope this is not what led to the fatal fight.... I would also have done same.

ladej:
at 2 am. what is this one saying? have you been faced with a gun before?

Not really, but you have shey? So ur point is? Need I remain you that banks have something called CONTACT CENTRE and some run 24 hours.

As prophesied....End time pastors everywhere.

Demdem2:

If u don't the extremely poor in our midst who are in the majority will suffer more. Are u aware that for current status quo, it's the privileged that is complaining and this policy affecting? The aim of govt to to protect the most vulnerable.

I beg to disagree. We have become oblivious of a class of people called MIDDLE CLASS. Yes, we still have them amongst us.

Bloggers, ACCA students, CFA students, Bankers who want to write some professional exam, etc

We can't just suffers everybody to punish the so called privileged.

We have BVN, that will help you disaggregrate the account holders, place your restrictions on the so called privileged and PEP (as Ben Bruce suggested). The cards of corporates can also be blocked. How much debt will I cause GTBANK with $300 daily limit? Mind you less than 75% of the banked use their card online. (not a statistical fact though)

Dee60:
You want to put Naira in your account in Nigeria and withdraw dollars freely abroad! Where would Nigeria have all the dollars to fund that. with the oil price fallen to by more than 60?

Does it occur to anyone that allowining free withdrawal (dollar against naira) will result in huge dollar debt for Nigeria over time?

Is there not an avenue for students to have their fees transferred officially instead of via ATMs?

The protesters need to push their argument clearly. Otherwise, it is simple commonsense that you cannot dollarise your economy, unless you want to pile up debt for future generations. Common sense.

If we had saved forex when oil was USD100 plus, it would have helped a bit. But with dwindling reserve CBN has to look for ways to curb DOLLAR consumption. We just cannot continue to CONSUME what we dont produce and expect FG or CBN to do magic.

Please think before you talk. Read before you comment. Common sense says so..

Can I quickly respond? Why do we have to defend the naira? Why can't the forces of demand and supply give us the true worth of the naira. Even if a free fall is the cost we have to pay for it.

There are several things you need dollars for other than pay for school fees... A thousand and one services are paid for in dollars and we sure don't offer them here.

Let's think about a saner way to battle this? The solution to all economic problems is not embedded in controlling the volume of money in circulation. You and I know that

Please is CBN a regulator or spectator? Because I don't understand why the regulator is trying to distant itself from the draconian foreign exchange restriction? So the banks are now autonomous? . Silence is still golden.

Yeah...that's the best thing to do... don't make them see you coming....Make sure them are calm then attack.

Hope they also asked if it was savings or current account?

I find this hard to believe though. Robbers like physical cash as much as possible.

So imagine they wipe all our accounts over the weekend;

1. How will they withdraw all the fund over the weekend, since there is a limit to how much you can collect via the ATM, even if they transfer to another account or bank

2. So your friend could not contact his bank to have his card blocked and account frozen immediately the robbers left?

chai...Igwe 2pac....Speedy recovery...

http://www.youtube.com/watch?v=WCffouk3BG8

Seen

Too mentally tired to read

Drchristian:
D exact

Picture or....

As prophesied in the good book in revelation.




End time prophet

Drchristian:
My bf has dis exact cloth..hmmmm

The replica shey

Owo ni koko

Shey Dubai na name of the hotel or event centre ni ? What nonsense...

Where is the fight?

see as the face color match the body, leg, knuckles, knees and ankle sef? Better pikin. Not like those fanta face, coke body

damn

Damn

Hope we can get free diagnosis from you and treatment where applicable

I will write something sensible in a bit.


colonization and Neocolonialism Loading....Like if you agree with me....._{(Make me sef us style beg for likes)}






But for the meanwhile, when are we going to exchange Naira for ECOWAS currency abi na US dey do go. Finally, $1 can be equal to N1

who be that man for background?

which is Taye

And not a single picture or video of this thing happening

Run to?



Some people for the camp go begin form landlord.


What's the plan for the IDP? Keep them there permanently or is there no plan to rehabilitate them and integrate them with the society

Very unfortunate