Outrageous Bank charges

[Ralphjoe]

The amount of charges on our bank account in my country is just so outrageous, there are just too many charges. Once it will be getting to the end of the month I will just put my mind down that definitely I will get like three charges from my bank. This charges affect the usage of money in my account in that I may need a certain amount of money to do something but once this bank removes their charges the amount won't be complete again.

 

[Husnainali]

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[Clara]

Saving your money in banks in my country is like the worst thing one can do. Banks are ready to take everything off if they are allowed to and the government policies also encourage that.The end result is that banks are trying to make up for lost revenue by hiking the fees that they can adjust until consumers get fed up. Let's go over a few of the fees that are getting out of hand.

 

[Veetos12]

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.

Hmm. Are you losing trust in Nigerian banks by saying I should withdraw all my money into a safe wallet. How safe are this wallets too. Hope it is not going to be a case of from frypan to fire because I don't trust Opay application too.
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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.

I feel like crying to know CBN can give such an order to commercial banks when they know that all this banks are milking our accounts dry all in the name of bank charges which are not necessary to me. I just hope this issue is resolved soon.

 

[Kelly5]

Trust me if there was a way we all can by pass these bank charges, every one of us world have not put our monies with any banks as we speak. But here we are at their mercy. Today one charge for ATM monthly fee. Same day another charge for ATM usage. Funny

 

[Setfragil]

It is good to charge for the services rendered by the bank, it's this service charge that keeps them in business. SMS charges, debit card maintenance charges, VAT charges are supposed to be charged on a monthly basis but they were being charged on weekly basis unjustifiable. The Nigerian government should look into it as a matter of urgency..

 

[Sariana23]

Banks in themselves have this way of discounting for the different operations that you carry out in these accounts. In my country they discount for each operation, transfers to different banks, mobile payment, operations with credit and debit cards, SMS alerts, VAT, maintenance and any request made online. We just have to accept it or declare the use of that benefit.

 

[Eodine]

Bank charges can be really frustrating and the charges never keep coming but recently I was told to open an account with micro finance banks like carbon, kuda and I don't incur charges.

 

[tuna89]

If you live within a Country which has a government that rarely listens to its people, then there are no ways of by passing such, one way is to lay complaints which is a 50-50 way of preventing such unnecessary charges else, there may be no solutions, the banks have lots of disadvantages than advantages and we just have to live with them.

 

[Mostee501]

As long as you bank with any of the commercial banks,you can't escape such charges,that's one of the means the use to profit from customers.There are other banking sectors like the likes of opay,you don't get charged for anything and you get discounts in operating some services.

 

[Sincerem]

My dear, their is no way we can bypass this ridiculous charges from our local bank accounts. The charges are very unnecessary, it seems the best way banks makes money from its customers most.

 

[Jesuyemi 08]

Saving your money in banks in my country is like the worst thing one can do. Banks are ready to take everything off if they are allowed to and the government policies also encourage that. Apart from that, the currency also keeps depreciating each time which will make the money almost useless by the time you will be withdrawing. The best thing to do is to keep investing

The stamp duty is the most annoying part of this charges. How can I pay for stamp duty as a sender and the receiver too? That is not cool at all.

 

[Victor001]

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.

The fact is we cannot stop bank from collecting their normal charges the best we can do is to make complaints because we don't pay them for keeping our money.

 

[Cash%]

This is more reason i stores my money in crypto currency. Because i cant withstand the high charges i pay almost every month ,for me its not fair ,and i hope its been adjusted and something is done about it

 

[Sheyemanu]

I have to say, you are right, bank charges are outrageous and they keep increasing. You are really correct about your point of view and it feels as if banks are trying to rip people pff for any amount the receive or send

 

[Psalmseen]

This modernized money laundering and theft called charges is so alarming and saddening that it's increasing each day. Some times, you would be expecting a particular amount as statement from the bank but unfortunately, you'll be sent a lower value as statement. This needs to be curbed

 

[alberello75]

Well, a little while ago, I replied to a user, who was denouncing more or less the same thing, inherently to the banks.
I firmly believe that banks all over the world are scandalous multinationals, with the aim of making money to already millionaires peoples (such as off-shore accounts), but certainly nothing good for us, small account holders!
Maybe the money, in my opinion, would be better to deposit it in online wallets at no cost (or almost).

 

[Lyrrex]

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 true. I think the best way is to save your money in crypto.

 

[Setho]

Since when I started saving money in the bank, there has always been some deductions mostly at month end and some are even unaccounted for and that is why I even prefer to save my money in crypto currencies.

 

[Good-Person]

Saving money into local banks can be a really big headache. They charge you high fees and irritate you a lot. I remember having a bad experience that was related to opening an in bank. I opened an account at a local bank in my area and they were having great problems closing my account when I asked them to close my account. They also charge high fees when it comes to making transactions and ordering a cheque book.