Deductions on sccounts

Nigeria Consumers Staff asked 2 years ago

Banking in Nigeria is becoming more embarrassing every passing day. Frivolous charges with dubious titles are been deducted from customers’ accounts.
Worst among these banks is First Bank Nigeria. After series of deductions at the end of September, I was woken up just now by my phone. Two alerts came in. Lo and behold, it was FBN telling me that OUTSTANDING SMS CHARGES for the month of September has just been deducted from my two accounts. An action which the bank already did towards the end of last month. FBN is fond of making illegal deductions from unsuspecting and hapless customers’ accounts in recent times. These days you don’t get updates from FBN on accrued interests to your account, all you get is deductions in various tags.
I hope Consumer Protection Council/Commission is listening.

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1 Answers
Ojzj answered 2 years ago

The Nigeria Consumer Protection Council needs to wake up. And many Nigerians need to start reporting issues to them as well as pushing up advocacy.
I have 3 accounts with GT Bank Р a Saving, Current and DOM account. If you transfer fund from your Current to Saving or vice versa, you get 2 SMS instead of one which I think makes so sense. In cases like this, a single SMS should do since they are charging for the SMS.
Also if you transfer fund to another person or use an ATM that is not the bank ATM, you get 2 – 3 SMS for the same transaction. One for the actual withdrawal or transfer and others for commission etc.
Since these SMS are not free, why burden customers with multiple SMS charge for the same transaction?
It is unreasonable except if there is a better explanation for this.

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