₦airaland Forum

ryusufu:
I've done a transaction of $10.45 on my access visa card, N2,173.60 was deducted, that translate to N208/$....

tumababa:
Well as at 4:30am Tuesday 21st. Stanbic is ₦ 199.5 to a $. All my other accounts are being cleared into stanbic as i type.

cyif2003:
made a transaction yesterday nd i got an alert today gtb charged me 205.99 naira to $1

jerrygome:
Same here...GTB charged me 205.9991 for a transaction I made on 20/4/2015
Got the debit alert today 21/4/2015

Updated to first post.

jesbu:
Please making payment through PayPal or debit card Which is cheaper?

It's basically the same, just that by default, if it's not dollars. The currency is converted into dollars and u could end up paying more. Use PayPal because it is easier and the merchant would be charged for receiving payments. lol.

Good day guys. I'm back in Nigeria now. So the thread will run as has been. Sorry for the silence, was busy. I will update the first post ASAP. Cheers!

cyif2003:
made a payement yesterday nd i was debited today. gt charged me 207.85 per dols. on d high side. so furious

ryusufu:
I did transaction on eBay today evening 17th april,..... $3.05 and they charge N628.30..... So they still charge N206/$.... The card is Visa..... Sorry it's Access Bank

Updated.

mayorall:
. Funny boss.

Thespecialone:
Gtbank
N205.99/$
Mastercard
Today.

Adebayolove:
Mine was a little higher. Made 2 payments today.
gtb N206.41/$ (PayPal)

I'll go with the non PayPal one. Who knows, maybe urs was converted, or PayPal charges or whatever really.

Hey Guys! I won't be in Nigeria this weekend, I'm travelling. So pardon me if there's a dip in response time or updating the first post this weekend. I'll be very busy over the weekend, regardless I'll check in as much as i can. But would be back next week, God willing. And I'll make sure everything is updated. Cheers!

mayorall:
FBN visa prepaid. #205/$. Today.

Thanks Mayor. Added in first post.

Mizzzbeee:
FBN dats first bank rite sir?

mayorall:
Yes ma.

Lol. U ppl know how to respect in this thread oh.

Ahmed4002:
has any got this email.

Dear Valued Customer, 

Central Bank of Nigeria's (CBN) Review of Spending Limits on Naira MasterCard  

We write to inform you of the Central Bank of Nigeria's (CBN) decision to reduce the FX spending limit on Naira MasterCard from $150,000 to $50,000 per annum.This means that you can spend up to $50,000 in a year using your GTBank Naira MasterCard when abroad (shopping online at foreign stores, ATMs and POS).In addition, the daily cash withdrawal limit for the Naira MasterCard has also been reduced to $300 per day.Please see below the new limits for both spending using your Naira MasterCard and cash withdrawal abroad:

Lol. CHANGE IS HERE! E never start.

Jeffy1206:
Stan ready to answer those questions lol... The that I called just dey over ask me questions, ended up with her for like 13minutes of call. The worst is that I called

I did mine via email

30 mins ago.
"Your Mobile Banking profile is now fully activated. You can do real-time transfer to any Bank, Pay Bills & Buy Airtime directly from your Bank Account."

Got my mobile banking working, but same error. sent them an email.

@jeffy1206 yh they always ask these questions. Tiring tho...

Mizzzbeee:
Stanley pls any update on ecobank..... P.S. Zenith asnt refunded me so deir official rate remains 208.9 .... New Bank Union bank wud update the house tomorrow

I forget sef, i did a transaction today. Ecobank. Dollar rate = 214.38.
Lol. UNION BANK?! This 21st century? Do they even have ATM Cards? Lool. I have NEVER seen a Union Bank ATM Card, Ever! I'll visit the museum tomorrow to see it :p
========================================================
@Time2Smile and @danniyal

Please any updates on FCMB and Keystone respectively?

Jeffy1206:
I think this the limit they were talking about... Tried to send 59000 on my mobile banking, below pic is the message I got.

I have called them to lift it, they promised to call me back which I'm very sure they will

They called me twice today about my mobile banking p. Still not sorted. Anyways, did they get back to u yet?

seaboyzen:
check it

Okay, so what are we looking at? Official rates on an app?

worldgee101:
Good job u r doing here! Keep Nigeria informed!

If you want something done right, do it urself right?
Lol, Cheers mate!

I told you all yesterday or so about the whole PayPal converting my 150.5 pounds to 228 dollars and eventually making me pay 1,100 naira higher. Well this morning, i got an alert showing even a higher figure by 434.91. When i contacted stanbic, their response was this.

"Dear Mr. Stanley,
Thank you for your feedback.
Please be informed that our inquiry into your feedback reveals that a transaction of $230.79 (N46,042.61) consummated at PAYPAL *ASOSCOMLTD Great Britain on 14 April, 2015 was successful and same was debited from your account on 16 April, 2015.

Kindly note that the aforesaid transaction is different from that of $228.61 (N45,607.70) consummated at PAYPAL *ASOSCOMLTD  Great Britain (same merchant) on 14 April, 2015 which was previously placed on hold.
We also confirm that the referred hold of $228.61 (N45,607.70) has been released into your account.
Thank you"

Which in plain English means that, in the 2 days that these funds were on hold, PayPal's dollar value rose so 150.5 pounds was converted into $230 instead of the initial $228.

REMINDER: When buying from PayPal, opt for ur own bank's (card issuer) conversion rate and not PayPal own. Now I've lost a total of 1,500 from this transaction. You don't have to lose too. Cheers!

worldgee101:
Date : 16th April 2015
Currency : $
Bank : Diamond bank
Exchange rate : 204.03
Time: 03.44hrs & 07.49hrs.

terrymason:
April 16th
aliexpress payment
$34>>>>>#7004
$1>>>#206
time>8:45am
bank:access-bank

Thank you. Both updated to first post.

kandrus:
Finally I got the Standbic ibtc bank atm, requested for Mobile banking.but the lady
Seems to be a novice at it.even the mother's maiden name part, she was reluctant to collect the form back,telling me it was not necessary,I had to explain to her.i just hope
She does it.how long does it take to activate the Internet banking?

Mhen these processes can take anywhere between 1 second to 200 years, just depends on how well u follow up to make them follow through.

Just follow them bumper to bumper with
Calls - ‪012709676‬
AND
Emails - cardqueriesWA@stanbicibtc.com

Hopefully urs gets sorted out quicker than mine. about 3 weeks now, still on the mobile banking matter. i think I'll get the text today tho.

solaceTK:
Eventually Access credited my account today, however l still need CBN email address l still want to take action against Access because when l made payment l was debited #208 per dollar but when the money was refunded they credited it with #199 per dollar. Those guys are bunch of old sons of b i t c h e s. The dubious acts is completely unacceptable

I think it's worth fighting. But to tell u the truth, you might not get that money back. Every bank seems to be refunding at 199. Well, Diamond went as low as 194.02

piscesgem:
UBA Naira Debit MasterCard
Ebay paypaymen: $ 101
Charge: # 20,705.99
Rate: 205.009802

Updated to first post.

Jeffy1206:
yes here it is...

The wait continues...

Jeffy1206:
This is their platform... Any additional information? @Stan

Le me is jealous. Lol. Anyways, i don't think there's anything else. Btw, did you get a text message saying that your mobile banking was ready? It you did, let me see it or at least, paste the contents.

Forwarded Stanbic an email showing that PayPal refunded the money back to my account just yesterday evening. And 8:30am this morning, i got the refund.

However, For $1.95 I was debited 389.03 and the refund is 388.05. Which confirms that Stanbic also processes refunds at a lower rate.
Debit was 199.5 and Credit (refund) - 199. Not too much to cry about, at least not until their dollar charge increases. Cheers!

Temihatz:
Gtb master card 2day:
204.99
Charged for aliexpress transaction.

Updated in the first post.

EUGENE4GOO:
You mean mobile banking, they are not charging #4 .

They will always charge u N4 every time u receive an alert concerning an action on ur account, be it debit or credit.

Jeffy1206:
@Stanley, although I received the message that I should call customer service to remove limits... But after launching the app there was no restriction. Just give them a call.

I love the app wasted my money on that gtb yeye token

They called me and told me that they only started to process my own on Monday 13th. And i hear it takes 3 working days to complete. They also sent a mail saying i should give them till the end of business today which is the 3rd working day. i think... So I'll wait

ATTENTION: If you use PayPal to make payments alot, there is an option where you can select to use your bank's conversion rate instead of PayPal converting it to dollars and charging it to your card. for this transaction i will quote below,

Stanley08:
Stanbic on twitter adviced today's rate as 295.68 so i guess... £150.5 = 44499.84.

I was charged N45,607.70 instead because of PayPal converted 150.5 to $228.61.
So i had to pay 228.61 x 199.5 = 45,607.695
Instead of 295.68 x 150.5 = 44,499.84

Could have saved = 1107.9 naira if only i chose the second option in the photo below.

Take this into consideration next time you are making a PayPal payment that is not in dollars. Cheers!

EUGENE4GOO:
@Jeffy, How did you do it? They are not debiting your account for sms alert. I deposited #2500, they alerted me that my account has been credited with #2500. When I log in to my i-banking I discovered that they have debited #4 for sms alert that my account had been credited. So instead of #2500 I saw #2496 in my account.

Yep! Dats how it is, they debit you immediately after u get the alert. I think i prefer the monthly one. But i think this is how it is with Stanbic and can't be changed.

solaceTK:
l already forwarded the mail from PayPal confirming the refund 2 days ago. l honestly think l have provided every document or evidence they need. They are just being daft.

As i said, somethings take time.

biggboy:
Diamond bank are exploiting me oo! Dey charged $1 to #204.077938 and refund me with $1 to #194.074889..... Time to migrate to Stanbic IBTC bank.

Lol. Diamond did me 204.08 -> 194.02. Stanbic did 199.5 -> 199.

Thespecialone:
Lol team stanbic is getting bigger.

We will soon start charging them. Lol.

Jeffy1206:
My mobile banking finally up and running...Also my ibanking no much difference at all...

My money was not touched as I first thought.

Mine isn't working, it says that Limits hasn't been set for this transaction type. If the diamond bank procedure is anything to go by, then i have to visit the bank and fill a form to set a limit on my mobile banking. Can u remember setting a limit?

I got the refund barely 10 minutes after they called me, and I've already spent it on Asos. Lol. Paid with PayPal this time and it went through without issues. Even tho I'm yet to get an exact confirmation of how much i was charged as Stanbic doesn't serve an alert to you until the money is actually debited, stanbic on twitter adviced today's rate as 295.68 so i guess... £150.5 = 44499.84.

I'm not a big fan of not getting immediate alerts nor debiting 4 naira immediately after every alert but i can't say too many bad things about stanbic if i tried. Not yet at least. Lol.

Jeffy1206:
don't you think is still early? Try to contact PayPal too, they will also help you and contact your nearest branch...

If It shows that the refund has been completed on PayPal, then there's nothing much PayPal can do for him really

solaceTK:
Thanks dear for your advice, however l have already mailed Access twice but they are not saying anything reasonable, they said they will investigate before they do anything further. let me allow this week to pass after which l will send a mail to PayPal for confirmation before escalating the matter

Access Bank (Ghana tho) took as long as 17 days to process a refund for me one time. Sometimes, these things just take time sadly. The best you can do is send them proof that the refund has been done on PayPals end and they should release the funds to you. Fowards emails from PayPal to them, screenshots showing transaction refunds and anything really. Forwarded a failed mail from Asos to StanbicIBTC and they started peocessing the release of my funds immediately and dat was just yesterday. They just called me now to tell me that the funds would be released in the next hr. These documents /evidence helps speed up the said 'investigation'.

EUGENE4GOO:
Date : 14th April '15
Currency : $
Bank : UBA (Africard)
Exchange rate : N204.20
Cost of item: $1.19
Amount debited: #243

This is just for me to test what they are charging now.

Lol. High time we heard something on UBA. Thanks mate. Updated to first post.

Plus, i can confirm that StanbicIBTC remains at 199.5. And it was a PayPal transaction. Stanbic sent me the value, 3,447.36. And dollar amount is $17.28. Exactly 199.5.
Paypal's reply says that Merchant will pay the charges.

Jeffy1206:
then I'll withdraw my statement then.

Oh well, only Ecobank i know doesn't do that.

Jeffy1206:
Yes for bigger transactions, you are going to feel the thing ... I think for refunding purpose, I'll give it to gtb. They even pay higher for me if it naira gain power excerpt they have changed though... But I can trust them on that.

Someone swore he lost 8K to GTB when getting a refund.

frebor:
No, the merchant pays the transaction fees.

Fees also apply if you receive any payment for goods or services.The standard rate for receiving payments for goods and services is 3.4% of total cost.

There is a fee to send money as a personal payment using a debit card or credit card. The fee, for example, in the U.S. is 2.9% plus $0.30 USD of the amount you send.
The sender can pay the fee or pass it on to the recipient. If the recipient doesn't want to pay the fee, they can choose not to accept the payment.

Refer to the fees section on the user agreement page for specific details: https://www.paypal.com/al/webapps/mpp/ua/useragreement-full?locale.x=en_AL

Thanks for this info bro. I just did a paypal/ebay transaction ($16.69). I will know when the alert comes in.

Jeffy1206:
Lol Stan, I think they just decide to remove #1 instead... I need not complain here at all, instead of maybe refunding at #194 or so... I like it

If i pay 199,500 ($1000) and i get a refund of 199,000 naira. I don't think i'll cry. I'll just not call anybody for 1 or 2 days. My credit money don go Stanbic be that

Elemental:
@chinosxl, I've called several times today at different times, I don't know why you are ignoring my calls. If there is a problem with you refunding me, then let me know. Deduct the shipping fees from my refund and send me the rest. I've waited 4 months for this refund, don't you think its high time I got it

4 whole months! Oga chinosxl, how far now?!

idokojerry:
Chinosxl why the increase in your exchange?when did you start fixing foreign exchange rate? The official rate is at N199. Even at that,banks now charge as low as N208/$.
I expect you to address us on likely changes before effecting them.
Please address this issue.

Even StanbicIBTC charging 199.5 for like over 2 weeks now...

Between yesterday and today, StanbicIBTC pounds rate dropped from 299.77 to 294.59.
However, i placed an order on Asos and it was successful on Stanbic's end (as the funds was put on pending) but Asos declined the card for some reason. Sent an email to Asos to know what the problem is, clearly not Stanbic tho.

Can anyone confirm that paying merchants using ur card on paypal costs more or the merchant pays receiving cost?

HAD A CRAZY DAY TODAY, I HAVE VISITED THE THREAD 3 TIMES BUT NO STRENGTH TO TYPE. LOL.

jerrygome:
GTB 1PM 12TH APRIL MasterCard online @ aliexpress N204.99888268 per $

frebor:
Date : 13th April '15
Currency : $
Bank : Gtbank (Mastercard)
Exchange rate : N204.99

Thanks for the update guys. @frebor gets the mention on first page cause of it's a later date.

koredex4love:
Access 206 as at today!

Thank you for the input. However this was reported earlier so doesn't get an update on the first page. Regardless we want this page to stay 'as up to the minute' as possible. Lol. Don't hesitate to let us know about any future transactions. Thank you.

Mizzzbeee:
Bank: Fidelity
Currency: $
Date: 12th April
RATE: 204.2 PER $1

biggboy:
Diamond bank as at 3:39PM 13th April 2015, $1 = #204.0779238

Thanks for the info, both updated to first post

Jeffy1206:
From stanbic refund policy... They just refunded same amount to my account see pic below.

Lol. Bro, na calculator u use snap this picture? I can't see anything yo! U were debited 389.03, and it looks like 388.05. Which means they give you dollar at 199.5 and process refund at 199. Well, i don't know if there is too much to complain about there...