₦airaland Forum

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...

Jeffy1206:
Yea my point exactly... It's better at the end of the month

Different banks, different policies and procedures.

tyconcepts:
Date : 13th April '15
Currency : $
Bank : Access Bank
Exchange rate : 206

Thanks for the Info. Updated to first post.

Jeffy1206:
I don't like this their sms charge... Look like extortion to me must I always call them to know my balance

Lol. It's not extortion. I just rather have them collect it at the end of the month.
Btw, Stanbic still sent those 2 alerts today and it is now showing on my Internet banking statement online. Who knows whether it was pending only because it was weekend. Because i know that PayPal debits then refunds. It's not supposed to be a pending. Now let's see how much they refund.

busky101:
Access bank ghana? Is stanbic's mastercard credit or debit card?

Mastercard is debit. Credit (Current account only) is VISA

Jeffy1206:
@ Stanley, I forgot to mention it then

Lol. Okay, remember to report on that Paypal refund. Even tho, the way it looks, there won't be an alert. The money would just appear back in ur account as it seems to be a pending authorization.
And btw see the pic below, it's form my internet banking statement, They charge for the sms alert IMMEDIATELY! Lol.

Jeffy1206:
yes I was told earlier though. That's when I complained about no alerts for transactions.

And u didn't now share it, u wicked oh. If say hypertension kill me, my blood for dey ur head. Lol.

laplace12:

Bro this no be politics section nah. We are one Nigeria here
I stay in Maryland, maybe I will try one here.
Pls I'm sorry for all the tribalistic comments. I am not like that naturally, its just that I can't help it when I see such threads

Lol. I didn't see anything tribalistic tho. But it's all good mate. Abeg try maryland stanbic. I'm sure it would be fine. Cheers!

busky101:
Hv been following this thread right from day one, i finally have a query tho..... Pls apart from uba africard is their any other bank that has a credit card similar to africard for making and receiving payments directly to the card involved

I think Access Bank Ghana mentioned something similar so u can try them, i'm not sure tho. But my advice is that u attach it to an account. Join Team Stanbic.

laplace12:
All these stanbic blessings, hope it gets to me oo
Hope they won't change like access the moment I open my own account?

Lol. That's why we don't want you at our bank.Please don't join. JK bro. I'm sure u'd like it mate. And I'm sure the branch you choose won't be as dumb as mine

@jeffy1206 Stanbic just called me and explained to me that they don't send alerts for Pending transactions, until the transactions are completed. And dats why we didn't get for the PayPal transaction. That the merchant didn't come for the money yet so they can't send an alert yet. PayPal usually takes it and refunds so i wonder why this is different. According to Stanbic, this PayPal transactions are pendings and not completed transactions and really the photo i posted yesterday supports their argument. The guy dat called also ended by saying that i made a valid point about sending alerts about pending transactions and he will take the idea up to the stakeholders and see if it's possible to advance their sms alert platform. Here is the follow-up email he sent below tho. Cheers!

"Dear Mr. Stanley,
Thank you for this feedback and time over the telephone.
Do accept our sincere apology for every inconvenience this experience may have caused you.
Following our telephone conversation, please be advised that we may be unable to transmit transaction notifications for pending transaction at this time.
This service is currently unavailable.
We however note the importance of this service to you and will continue to strive to ensure that we render the best service obtainable within the industry to our clients at all times.
Thank you for your valued patronage.
Best Regards"

Mizzzbeee:
that is y dey r called customer care they are
meant to know or find out.... If dey dont know den who will Nyway next week
starting my trip to Stanbic Ibtc

Hopefully urs would go smoother than mine. I'm sure it would. I think it's just mobile banking dats left for me. Hopefully charges on my atm card will show up on my statement there because weirdly, doesn't show on Internet banking one. U just know that money is pending tho.

Jeffy1206:
They always send weekly statement of account

Apparently yes,i got one today at 6:04pm, what time did you get urs? i don't know if I like it or not yet. Lol. I think i like it till my mobile banking is ready

Jeffy1206:
No wonder I see my balance dropping from each sms sent to me...

Lol, if i may ask, is there any other way u get to know ur balance except through the alerts?

Mizzzbeee:
AliExpress transaction today 3:45am $29.36 was charged 6134.23 on zenith bank mastercard
6134.23/29.36 =208.93 per $1...... So angry at zenith rite now I hope dey refund me later like sinebaba ..... This was after I took a trip to the bank to ask their customer care the rate of dollars to naira using master card and d lady told me 199

Most banks will give u official rate. Dats why i always ask Stanbic the amount charged on the mastercard. Instead of just asking the exchange rate. But seems they misunderstood ur query, or genuinely didn't have the answer. It's possible. I think i'll stick to stanbic for sometime, at least i'm kinda happy with their closeness to customers and availability of info, especially how they reply tweets on twitter.

Jeffy1206:
@Stan, I saw some people with recent charges can you update them to first page?

What recent charges mate? Only the Zenith one reported above that i will make effect to right now.

Jeffy1206:
imagine that... I would prefer sms alert immediately
N.B I was told that on internet banking, 4 naira is charged on every sms sent on a transaction.

Ecobank does it, diamond bank does it. So i wouldn't worry about that too much. Yes. 4 naira is charged on every alert u receive. Ecobank charges at the end of the month. I think Stanbic charges immediately from what i saw in my mini-statement on my internet banking profile.

PayPal charged my card twice as i requested for the code twice. Anyways, the photo below confirms that Stanbic charges 199.5 per dollar.

389.03 / 1.95 = 199.5

Updating in first post.

EUGENE4GOO:
I opened it yesterday and got my account no. Then I proceed register internet banking online, which is working now. I still waiting for my card may be next week

Ah! Yesterday, and today ur internet banking is working. Omo, na Stanbic CEO open ur account for u? Mine took soo long. Anyways it's working now.

@jeffy1206, stanbic called me and told me the PayPal code, now my card is confirmed on PayPal. Lol. Those guys are funny, instead of send alert you are calling and sending statements to people just to confirm PayPal code. They have resources oh.

Jeffy1206:
from the statement they sent . I edited it in the pic I posted earlier on.

Okay, that makes sense. i will have to wait for that too then. I asked them to send it, and they said that they would. I think they reply emails in batches. On several occasions i have received replies on different issues from cardserviceswa and customercare at the same time. The guy that called me this morning said he was gonna send my statement to me. Still waiting. It doesn't show on the internet banking transaction list. Imagine. SMH. Then wats the point of Internet banking if you can't view ur full statement? Even the original adding of beneficiary didn't work for me. Lol na the scam own dey work.

dragnet:
meaning I don't know how to do the calculation?

Why are u now feeling so insecure about this small thing? When values seems alot diff, i usually ask people to post dollar and alert values just to be sure, for clarification as you told @Mizzzbeee. Ask anybody, i do it all the time. Anyways sha thank you for your info. Sorry o sha!

EUGENE4GOO:
Congratulation. Looking forward getting my own.

Cool. Hope u don't have too many problems like me. My Internet banking is ready. Used it, but can't find the PayPal charges. I've actually requested twice.

dragnet:
$1=N197.89 via GTB naira mastercard past 10am. today

EHN! You say what? Lol. Please post dollar value and alert value. Thank you.

Jeffy1206:
Oh Thank God... But those people no dey tia for form o

I don't know what this means, but yes. I've added my card to PayPal but didn't get any sms alert so I'm waiting for my statement i asked for. How did u get it? The PayPal code.

Just got this mail from StanbicIBTC a few mins ago. And now my card works. Finally, After 100 years!

"Dear Mr. Stanley,
Thank you for your patience while our resolution lasted.
Do accept our sincere apologies for the inconvenience this has cause you.
Please be informed that your account has been regularized.
Kindly initiate a transaction and share feedback with us.
Thank you for banking with us.
Best regards"

Jeffy1206:
Stanley I guess they didn't process your update form or at least properly... Visit another branch cos it's obvious that this branch is confused.

First thing Monday. Another branch.

opeyemmmy:
Bro, it's a fact. If for ANY REASON your refund isn't processed at the rate transaction is done, it can't be less than the bank's buying rate, which for a while has been N199.

Lol. I get ur point. Your logic makes PERFECT sense. But i am also telling u that Diamond Bank charged me 204.08 and processed refund at 194.02. Bro, I like facts so much, maybe too much.

warrenweste:
and this evening again fidelity bank charged me 204.3.... and i wonder why they are taking long to make your card active,m thinking of opening their corporate or sme business account

I swear i have no idea why! I just don't know why, we have exchanged at LEAST 10 emails each and 5 phone calls each, all to no avail. The punchline is always we will get back to you.
Last email says

"Dear Mr. Stanley,
Thank you for bringing this feedback to our notice.
Please be informed that we noticed that your account has been temporarily restricted due to some outstanding documents yet to be submitted.
Kindly allow us till close of business today to enable us provide an update on the necessary documents to be submitted.
We sincerely apologize for any inconvenience this experience might have caused you.
Best regards."

And I have already submitted every document possible oh! At least, everything @jeffy1206 submitted.
OR DOES STANBICIBTC WANT MY WAEC RESULT TOO??!!

opeyemmmy:
If you aren't getting any joy with your card, you can send a mail to cardqueriesWA@stanbicibtc.com or call their emergency customer care 012709676... no waiting time.

Lol we have been exchanging emails and talking on the phone like long term lovers since Tuesday. They have even called me back on some occasions. The love is strong, but no benefits. LOL.

jerrygome:
This yeye Aliexpress seller just made me lose money. I made an order and GTB charged me N208 per dollar. The olodo seller decided not to ship. Transaction was automatically cancelled after some days and GTB refunded me @ the rate of N199.5 per dollar. I just lost more than N8 per dollar because the olodo Chinese decided not to ship even when he confirmed that he will

Abeg oh. Before them go vex drop one or two things on us abeg.

Jeffy1206:
Eyaa sorry for that Stanley... I think the woman who attended to me is a guru after all immediately I entered and met her...

Me: morning, pls I want to update my account to enable...didn't finish
Woman: ok you want to use your card for online transactions?...
After that I knewit will go smoothly.
Is it Lagos you are doing your own or where? @ Stan

Yes. Lagos oh.
After the weekend, if all isn't right yet, i will visit a different branch, dats for sure. Fingers crossed all will be right.