Outrageous Bank charges

[Milz]

One of the ways which people bypass all these irregular charges made by banks on the deposit in your account is by buying cryptocurrencies which appreciate over time, but lately the government has placed a ban on depositing and withdrawing to local banks which I feel is crude.

 

[Neeta313]

Honestly those charges can be draining, sometimes like there's always something they ate saying just to deduct money from your account, the good thing is some financial platforms have come up like the likes of piggy vests and others, where you can save your money there and no charge will be deducted, If care is not taken people will stop saving their money in banks because the charges is becoming too much.

 

[redpogi16]

Outrageous bank charges. Well alot of Banks really charge alot of money for there bank charges like monthly maintenance fees, card fees and lot more. Some Banks even remove money from someone account without a valid reason. Some people might even pay for card delivery and at the end one will still go to the bank themselves to collect the card.

 

[Bookwormlux1]

All the commercial banks in my country have a way of deducting a monthly charges on their customers accounts. This charges include; ATM maintenance fee, SMS alert charges and VAT. How do you see all this charges?
Is there a way of bypassing all or any of these charges?
Kindly share your opinion.

This is very common with Nigerian banks and things like this made a lot of us to keep our money in crypto currency wallets, but they have decided to still ban crypto currencies to frustrate us. It is not fair for them to be deducting charges.

 

[Ub40]

This is a very important topic that is worth talking about. The banks maybe making thier money with these deduction but they are just too much. The worst part is when there is no genuine explanation why these outrageous deduction are made. This is not good for business at all. That is my opinion.

 

[Nurudeen]

It's just very disheartening that the commercial Banks are milking the money of their customers and the Apex bank have nothing to say about this issue. This happens too in my own country and the customers using this commercial Banks pay a lot for charges

 

[Sotherefore]

seriously this thing is very serious because I cannot even imagine a point in which I'm always charge 1000 naira every month as a maintenance fee which is not fair at all they should try and do something about it because it is discouraging people from saving money that is why I save most of my earning in cryptocurrency

 

[Olubayo12]

All the commercial banks in my country have a way of deducting a monthly charges on their customers accounts. This charges include; ATM maintenance fee, SMS alert charges and VAT. How do you see all this charges?
Is there a way of bypassing all or any of these charges?
Kindly share your opinion.

Normally, all these banks make much of their profits from the so-called charges levelled on people's accounts, this is a reason I normally don't use alert messages on my account, imagine paying a whooping sum of N1600 for sms alert in just a single month... how much is gonna remain?

 

[Trojan8]

Most banks are so profit oriented that they don't even care about their customers welfare. Some are ready to milk your account dry with ridiculous charges all in a bid to post record revenues later. I feel the apex bank should do something critical about how some banks charge their customers. I am saving my money with you, getting the lowest returns possible and yet you are still cutting from it.

 

[Seun4luv]

Banks keep hiking their fees tgis need to stop. We need to stay on top of the situation. I believe the government needs to urgently address the matter of these outrageous bank charges with immediate effect.

 

[kayode10]

Bank is a legal institution set up to indirectly make the customer of their money legally. Banking system as device various means to extort money in all angles from their customers. It is even written in their agreements that if anything happens to your bank account, irrespective of the person involved, bank will not take responsibility for any loss associated with your account. The money they charge customers is to exorbitant if we add them up.

 

[Richard92]

This is really so disturbing for businessman outrageous charges by banks. These charges reduce your money instead of additional interest and this sometimes discourage some small-scale business owner from saving their money in the bank.

 

[Yan]

All the commercial banks in my country have a way of deducting a monthly charges on their customers accounts. This charges include; ATM maintenance fee, SMS alert charges and VAT. How do you see all this charges?
Is there a way of bypassing all or any of these charges?
Kindly share your opinion.

Bypassing it won't be the answer as it would be illegal but probably there's a way to reduce the charges, I don't know, we can only beckon upon the country's government to help reduce the charges so as not to affect individuals. By the way you could do most of your transactions on crypto wallets whereby they don't charge you monthly for card maintenance fees and other weird charges like that.

 

[Kamon c4]

This is true. Almost all commercial banks in my country does this to every customer. This is the reason why I don’t bother saving my money instead I invest them. It’s outrageous and uncalled for but there’s little or nothing that could be done to it

 

[Blessedsam60]

These bank charges are alarming too especially here in Nigeria. Added to the aforementioned charges we have; Stamp duty charges, miscellaneous and others. This is the main reason why most people have started banking their money in crytocurrencies and the CENTRAL BANK OF NIGERIA is fighting against people using cryto as a substitute for banks.

 

[Veetos12]

Bypassing it won't be the answer as it would be illegal but probably there's a way to reduce the charges, I don't know, we can only beckon upon the country's government to help reduce the charges so as not to affect individuals. By the way you could do most of your transactions on crypto wallets whereby they don't charge you monthly for card maintenance fees and other weird charges like that.

Bypassing it won't be the answer as it would be illegal but probably there's a way to reduce the charges, I don't know, we can only beckon upon the country's government to help reduce the charges so as not to affect individuals. By the way you could do most of your transactions on crypto wallets whereby they don't charge you monthly for card maintenance fees and other weird charges like that.

Thank you so much for this beautiful piece of advice. Sincerely I don't have the intention of bypassing these charges, just that it is frustrating watching my hard earned money being deducted anyhow. With the cryto wallet you just talked about i think that may not be possible because of the new rule against it in Nigeria

 

[idhans]

All the commercial banks in my country have a way of deducting a monthly charges on their customers accounts. This charges include; ATM maintenance fee, SMS alert charges and VAT. How do you see all this charges?
Is there a way of bypassing all or any of these charges?
Kindly share your opinion.

It doesn't interest me saving money in Nigerian banks these days anymore because of huge charges. Maybe that is why they are banning cryptocurrency in the country so that people can save money for them.I don't advise anybody to save money in Nigerian banks couple with the devaluation of Naira right now.

 

[Yan]

Thank you so much for this beautiful piece of advice. Sincerely I don't have the intention of bypassing these charges, just that it is frustrating watching my hard earned money being deducted anyhow. With the cryto wallet you just talked about i think that may not be possible because of the new rule against it in Nigeria

Yeah that is actually true I'm actually a Nigerian also and I feel that that crypto ban is frustrating, it seems our country is kind of backwards and I don't understand why. Maybe you should try one of those financial apps with wallet included like PayPal, opay...so your bank account will be empty while all your money is in the wallet and if you need it you can easily transfer from the wallet to your bank account before withdrawing your money.

 

[Alexandoy]

I remember when the 1st bank installed the first ATM machines here sometime in 1985 there was a surcharge when you use the ATM. There was only 1 bank with an ATM for several years before the others followed suit. That may be the same charge by the bank for the ATM maintenance because it is expensive to maintain the machines. However, if there are other banks that do not charge for the ATM use then you just transfer your account there.

 

[EMMANUEL]

There has being a very serious issue concerning this problem of outrageous charges, you see lately I was forced to go to the bank to make a complaint concerning this because there has a rigorous issue. Although some of the fees can not be refunded back to you the fact still remains that you logged a complaint.